Summary answer: On a $700,000 home in Reston with 10% down at today's rates (around 6.65%), expect a total monthly payment of roughly $5,000–$5,300 including principal, interest, property taxes, insurance, PMI, and the mandatory Reston Association HOA dues. This is a realistic scenario for Reston — $700K sits comfortably above the median, in range for a larger single-family home.
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The full breakdown
| Cost Component | Estimated Monthly Amount |
|---|---|
| Principal & interest (10% down, $630,000 loan, 6.65%) | ~$4,050 |
| Property tax ($700K home, ~$1.22/$100 combined) | ~$710 |
| Homeowners insurance (estimate) | ~$150 |
| PMI (10% down, conventional) | ~$220–$260 |
| Reston Association HOA dues (estimate) | ~$100–$150 |
| Total | ~$5,230–$5,320 |
Why the HOA line matters more in Reston than elsewhere
Unlike many NOVA markets where HOA fees only apply to specific communities, Reston Association membership is essentially universal across the community — factor this into your monthly budget regardless of which specific neighborhood you're considering.
How your down payment changes this
- 20% down — eliminates PMI, saving $220–$260/month, but requires $140,000 upfront
- VA loan, 0% down — no PMI regardless of down payment, but a higher loan amount
Get your exact number
Reach out once we've identified a target property and I'll run your real numbers, HOA dues included.
For more Reston buyer and seller questions, visit our Reston real estate hub.