Summary answer: On a $650,000 home in Lorton with 10% down at today's rates (~6.65%), expect a total monthly payment of roughly $4,710-$4,750 including principal, interest, property taxes, insurance, and PMI. This is a highly realistic scenario for Lorton, sitting right around several recent median readings.
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The full breakdown
| Cost Component | Estimated Monthly Amount |
|---|---|
| Principal & interest (10% down, $585,000 loan, 6.65%) | ~$3,762 |
| Property tax ($650K home, $1.1225/$100) | ~$608 |
| Homeowners insurance | ~$140 |
| PMI (10% down) | ~$200-$240 |
| Total | ~$4,710-$4,750 |
What a VA loan changes here
With $0 down, your principal and interest payment on the same $650,000 home rises somewhat since you're financing the full amount, but you eliminate PMI entirely — often netting out to a similar or even lower total monthly payment depending on your specific rate and whether you're assuming an existing lower-rate VA loan.
How this compares if you assume an existing VA loan
If you assume a seller's existing VA loan at a below-market rate (some Lorton sellers are actively marketing this option), your principal and interest payment could run meaningfully lower than a new loan at today's rates — genuinely worth exploring for the right listing.
What to bring to your lender conversation
Come prepared with your last two years of tax returns, recent pay stubs, and a list of any other debts or assets — the more complete your picture upfront, the faster and more accurate your pre-approval will be. Lorton's genuine mix of townhomes, condos, and single-family homes on varied lot sizes means your lender should also know which property type you're targeting, since this can affect loan program eligibility and appraisal requirements.
Get your exact number
Reach out once we've identified a target property and I'll run your real numbers.
For more Lorton buyer and seller questions, visit our Lorton real estate hub.