Mortgage Calculator MLcalc

Mortgage Calculator /With Taxes and PMI /District of Columbia

District of Columbia Mortgage Calculator

Set to District of Columbia’s own property tax rate of 0.63% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($146,600)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$4,336
Monthly payment
$3,737
Principal & interest
$385
Taxes
$214
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $586,400 Interest paid $759,047
20262056
Total of 360 payments$1,560,937
Principal$586,400
Interest$759,047
Taxes$138,540
Insurance$76,950
HOA fees$0
P&I 86.2% Taxes 8.9% Insurance 4.9%
15- vs 30-year term at 6.58%
15-year
$5,134/mo P&I
$337,720 total interest
30-year · current
$3,737/mo P&I
$759,047 total interest
The 15-year term saves $421,327 in interest. Which term is right for you?

What these numbers come from

Median home value
$733,400
Median tax bill
$4,594
Effective tax rate
0.63%
Rank of 51
35th highest

District of Columbia taxes property at about 0.63% of value against 0.89% nationally. On a $733,000 home that is $159 a month less than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across District of Columbia home prices

20% down, 30-year fixed at 6.58%, with District of Columbia property tax of 0.63% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$440,000 $352,000 $2,243 $231 $2,603
$587,000 $469,600 $2,993 $308 $3,472
$733,000 median $586,400 $3,737 $385 $4,336
$917,000 $733,600 $4,676 $481 $5,424
$1,100,000 $880,000 $5,609 $578 $6,507

The gap between the P&I column and the last one is what a mortgage quote leaves out. In District of Columbia taxes alone add $385 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $522 $3,215 $599 $585,878
Sep $525 $3,213 $599 $585,353
Oct $528 $3,210 $599 $584,826
Nov $531 $3,207 $599 $584,295
Dec $533 $3,204 $599 $583,762
2026 $2,638 $16,048 $2,993 $583,762
Jan $536 $3,201 $599 $583,225
Feb $539 $3,198 $599 $582,686
Mar $542 $3,195 $599 $582,144
Apr $545 $3,192 $599 $581,598
May $548 $3,189 $599 $581,050
Jun $551 $3,186 $599 $580,499

Refinancing in District of Columbia

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

District of Columbia home loans in detail

Washington DC Mortgage Overview

The nation's capital is a beautiful place for anyone to live. It's also quite costly, which means financing programs are very helpful for first-time and subsequent homebuyers. If you're in the market for a loan in Washington DC, here are your options.

Washington DC conventional loans

You need just 3 percent down if you're a first-time homebuyer, but 5 percent if you've owned a home before. Conventional loans require a 660 credit score and low debt ratio. You will pay PMI with the lower down payment, but you can cancel it when you owe less than 80 percent of the home's value.

Washington DC FHA loans

FHA loans don't require great credit. You can get a loan with just a 580 score for a 3.5 percent down payment and a 500 - 579 score if you put down 10 percent. FHA loans have mortgage insurance for the life of the loan, but you get flexible underwriting guidelines in return.

Washington DC VA loans

Veterans of the military can secure 100 percent financing with a VA loan. All you need is a 620 credit score and proof you have enough money to cover your bills. The VA looks at your disposable income too so they know you can cover the daily cost of living. VA loans don't have mortgage insurance, but they have a funding fee.

Washington DC USDA loans

If you can't get an FHA loan, consider a USDA loan. You don't have to live in the middle of nowhere

  • just a rural area as deemed by the USDA. Your income must fall within the USDA guidelines. If you are eligible, you can get a 100 percent loan, which means you don't need a down payment.

First-Time Homebuyer

Programs in Washington DC

Home Purchase Assistance Program

This is an interest-free loan that helps first-time homebuyers buy their first home. You may receive up to $80,000 in gap financing and $4,000 for closing cost assistance.

Employer-Assisted Housing Program

This 0% deferred loan provides District employees with the funds to buy a home. You don't owe any payments until you sell the home or refinance the loan.

District of Columbia mortgage FAQ

How much is property tax on a home in District of Columbia?
District of Columbia homeowners pay an effective property tax rate of about 0.63 percent of home value — the 35th highest of the 50 states and DC. On the state's median home value of $733,400 that works out to roughly $4,618 a year, or $385 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced District of Columbia home?
At $733,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $3,737 a month. Adding District of Columbia property tax of roughly $385 a month and an estimated $214 of homeowner insurance brings the full payment to around $4,336.
What loan options are available in Washington DC?
Washington DC buyers can use conventional loans with 3 percent down for first-time buyers or 5 percent for repeat buyers and a 660 credit score, FHA loans with a 580 score and 3.5 percent down or a 500 to 579 score with 10 percent down, VA loans offering 100 percent financing with a 620 score, and USDA loans with no down payment in USDA-designated areas.
What assistance programs exist for first-time buyers in Washington DC?
The Home Purchase Assistance Program gives first-time homebuyers an interest-free loan for gap financing plus separate help with closing costs. District government employees can also use the Employer-Assisted Housing Program, a zero percent deferred loan with no payments due until you sell the home or refinance the mortgage.
What is the minimum down payment in Washington DC?
First-time homebuyers in Washington DC can put just 3 percent down on a conventional loan, while repeat buyers need 5 percent. FHA loans require 3.5 percent down with a 580 credit score or 10 percent with a lower score, and eligible buyers can skip the down payment entirely with a VA or USDA loan.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.