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Review Keywords Analysis

  1. United States
  2. Best Mortgage Brokers
  3. Mortgage Brokers in Virginia
  4. Chesapeake
  5. Mortgage Affordability Calculator
1 · Your income
2 · Down payment
3 · What you can afford
Step 1 of 3

Mortgage Affordability Calculator Chesapeake, VA

How much house can you afford in Chesapeake? See your maximum price, monthly payment and pre-approval estimate. Free, instant, no credit check.

Updated · current rates and lending limits

Add your partner's income if you're buying together.

Car loans, credit cards, lines of credit, student loans. Not rent.

Property tax are for this state.

An estimate, not a mortgage approval or pre-approval. A mortgage broker confirms your real number.

Top-rated mortgage brokers in Chesapeake

Ranked by TrustAnalytica from verified reviews · see the full Top 10 list →

1

Atlantic Bay Mortgage Group

Atlantic Bay Mortgage Group focuses on guiding first-time homebuyers through the mortgage process with clear communication and responsive support. Their team assists with home purchases and refinancing, taking time to explain each step. Customers appreciate their approachable, knowledgeable service, though some note the process can require patience.

View Profile
(757) 819-0301
Open 9:00 AM - 5:00 PM
638 Independence Pkwy #250, Chesapeake, VA 23320
2

Briggs Team Lending - Taylor Briggs

Known for clear communication and helpful guidance throughout the mortgage process, Briggs Team Lending - Taylor Briggs offers a range of home financing options tailored to individual needs. Clients appreciate the team’s proactive updates and smooth handling from pre-approval to closing, making home buying less stressful and more transparent.

Services & Prices
Pre-Approval Quoted per loan
Loan Structuring Quoted per loan
Closing Process Assistance Quoted per loan
View Profile
(757) 663-1473
Open 00:00 - 23:59
505 Independence Pkwy #240, Chesapeake, VA 23320
General Services
Mortgage Services
3

The Broker - Mortgage Experts

The Broker focuses on providing low rates and fees while guiding clients through the mortgage process with clear communication and educational resources. Their team assists with everything from pre-qualification to closing, aiming to simplify financing for both first-time buyers and experienced investors. Customers appreciate their professionalism and support, though some note the process can… more...

The Broker focuses on providing low rates and fees while guiding clients through the mortgage process with clear communication and educational resources. Their team assists with everything from pre-qualification to closing, aiming to simplify financing for both first-time buyers and experienced investors. Customers appreciate their professionalism and support, though some note the process can feel intense at times.

Services & Prices
Home Purchase Assistance Quoted per loan
Property Showings Quoted per loan
Market Analysis $200 - $400
View Profile
(757) 642-5078
Open 9:00 AM - 5:00 PM
1407 Stephanie Way Ste D, Chesapeake, VA 23320
General Services
Home Buying
4

Tim Lee Loan Officer with RW Towne Mortgage

RW Towne Mortgage focuses on personalized home loan guidance, helping clients navigate changes smoothly throughout the process. The team offers attentive support and clear communication, making mortgage decisions more manageable. Customers appreciate the professional approach and the ease of working with the agents.

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(757) 236-3747
Open 8:00 AM - 8:00 PM
628 Cedar Rd, Chesapeake, VA 23322
5

Whitney Oertel Senior Mortgage Loan Officer with Towne Mortgage

Known for responsive communication and guidance beyond regular hours, this mortgage team helps clients navigate loan options with clarity. They assist with various mortgage types and rate strategies, supporting first-time buyers through to closing. Customers appreciate their promptness and thorough explanations throughout the process.

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(757) 620-2888
Open 9:00 AM - 5:00 PM
128 Battlefield Blvd N, Chesapeake, VA 23320
Where they are 10 on the map Click a pin for the profile and directions
6

Chace Cooper with TowneBank Mortgage

TowneBank Mortgage blends a hometown approach with modern technology to offer personalized mortgage solutions. Their team handles a range of loans, including purchases, refinancing, and construction, with a focus on clear communication and efficient processing. Customers often note a smooth experience and helpful guidance throughout the loan process.

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(757) 377-5367
Open 9:00 AM - 5:00 PM
1312 Greenbrier Pkwy, Chesapeake, VA 23322
7

Vantage Point Mortgage

Vantage Point Mortgage specializes in helping clients close home loans quickly, even under tight deadlines. The team offers mortgage brokerage services focused on clear communication and a smooth process. Customers appreciate their professionalism and responsiveness, though some note the experience depends on timely cooperation.

Services & Prices
Home Purchase Loans Quoted per loan
Refinance Loans Quoted per loan
Cash-Out Refinancing Quoted per loan
View Profile
(757) 600-4222
Open 8:30 AM - 6:00 PM
1545 Crossways Blvd Suite 250, Chesapeake, VA 23320
General Services
Mortgage Services
8

Marcie Ellis Richard at CrossCountry Mortgage

CrossCountry Mortgage emphasizes a seamless, transparent home financing experience backed by a strong technology platform and a knowledgeable team. They offer a range of loan options including conventional, FHA, VA, and jumbo loans, guiding clients through purchases and refinancing. Customers appreciate the clear communication and supportive service throughout the process.

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(757) 560-6012
Open 8:30 AM - 5:00 PM
445 Battlefield Blvd N # G, Chesapeake, VA 23320
9
View Profile
(757) 222-2149
Open 8:30 AM - 5:00 PM
1435 Crossways Blvd, Chesapeake, VA 23320
10

Mortgage 757, LLC

Mortgage 757, LLC focuses on guiding first-time homebuyers through the mortgage process with attentive support and clear communication. The team helps clients navigate challenges while keeping them informed and comfortable every step of the way. Customers appreciate the personal care and responsiveness throughout their home financing journey.

Services & Prices
Market Analysis Report $200 - $300
Home Inspection Coordination $150 - $250
View Profile
(757) 581-0325
Open 9:00 AM - 5:00 PM
517 Baylor Ct, Chesapeake, VA 23320
General Services
Property Evaluation

Chesapeake Mortgage Statistics

Home-purchase lending in Chesapeake City County and home costs in Chesapeake, VA (latest HMDA and Census data)

Lenders made 3,639 home-purchase loans in Chesapeake City County in 2025 (average about $397,000) and denied 267 — 7% of decided applications, compared with 11% across Virginia, according to federal mortgage data (HMDA, CFPB). In Chesapeake, the median home is worth $378,400 and 75% of owners have a mortgage, paying a median $2,142 a month (Census ACS 2020–2024).

Home-purchase loans, 2025
3,639▲ 3%3,523 in 2024
Denial rate
7%VA 11%
Median home value
$378,400VA $383,700
Monthly cost with a mortgage
$2,142median · VA $2,127
Refinance loans made (Chesapeake City County, 2025)
2,463 · 1,825 in 2024
Home-improvement loans made (2025)
732
Average home-purchase loan
$397,000 (VA $452,000)
Owners with a mortgage
75% · 29% of them spend 30%+ of income on housing
Median household income
$95,373 (VA $93,170)

Source: CFPB / FFIEC Home Mortgage Disclosure Act (HMDA) data, 2024–2025 loan applications in Chesapeake City County (originated vs denied); home values and costs: U.S. Census Bureau ACS 2020–2024. Compiled by TrustAnalytica.

How this Chesapeake mortgage affordability calculator works

Lenders look at your debt-to-income ratio. Housing costs (principal and interest, property tax, homeowners insurance and mortgage insurance) should stay under about 31% of your gross monthly income, and housing plus your other monthly debts under 43%. The calculator finds the highest home price that passes both tests with your down payment, on a 30-year fixed loan.

Virginia rules and numbers this calculator uses

Debt-to-income
31% for housing and 43% total, the FHA standard and the long-time Qualified Mortgage limit. Some conventional loans go higher with strong credit and savings.
Down payment
At least 3% on a conventional first-time buyer loan (3.5% on FHA). Under 20% down, private mortgage insurance of about 0.6% of the loan a year is added to the payment.
Property tax
About 0.75% of the home's value a year, the Virginia average for owner-occupied homes (2024 Census ACS).
Insurance
Homeowners insurance assumed at $150 a month; it varies a lot by home and location.
Rate
Starts at 7.40% (Freddie Mac 30-year average, October 2026). Change it to the rate you have been quoted.

An estimate, not a mortgage approval or pre-approval. Your credit, income type, the property and the lender all change the answer; a mortgage broker confirms your real number. Sources: Freddie Mac Primary Mortgage Market Survey (October 2026), U.S. Census Bureau American Community Survey 2024 property tax data, FHA and CFPB debt-to-income guidance.

Frequently asked questions

10 questions
How does the mortgage affordability calculator work?
It estimates the highest home price you can qualify for based on income, debts, down payment, and interest rate. It includes PMI and property tax.
What is the debt-to-income ratio for mortgages in Virginia?
Lenders often cap housing costs at 31% of gross income and total debt at 43%. Some loans allow more with strong credit.
How does a 7.40% interest rate affect affordability?
Higher rates increase monthly payments, reducing the home price you can afford. Rates change weekly, affecting estimates.
What is the minimum down payment for first-time buyers in Chesapeake?
Conventional loans require at least 3%, FHA loans 3.5%. VA and USDA loans can allow 0% down for eligible buyers.
How does PMI affect my mortgage in Virginia?
With less than 20% down, PMI adds about 0.6% of the loan per year. It can usually be removed once the loan balance is below 80% of the home's value.
How do debts reduce the mortgage amount I qualify for?
Higher monthly debts reduce the amount available for housing costs, lowering the home price you can afford.
What is the property tax rate in Virginia?
Virginia's property tax is about 0.75% of the home's value annually, based on 2024 averages for owner-occupied homes.
What's the difference between mortgage pre-approval and pre-qualification?
Pre-approval involves verifying income, debts, and credit, giving a more accurate estimate. Pre-qualification is a preliminary estimate without verification.
How much house can I afford on a 100k salary in Chesapeake?
The calculator estimates based on income, debts, and other factors. Lenders typically cap housing costs at 31% of gross income.
What does a mortgage broker do?
A mortgage broker connects borrowers with lenders, helping find loan options and rates that fit the borrower's needs.

General information, not financial advice — consult a qualified professional.