Maura Stevens with the FOCUS on NoVA team brings you this month’s edition of What You Get For, a series where we take you through a property we recently sold and we break down the costs of owning a home in that price range.

Today we are looking at a single family home in the Ashfield community of Fairfax.  This property is located in the Woodson High School pyramid and is a short distance to the restaurants and shops of Fairfax City. It is a 4 bedroom 3 bathroom home that sits on almost a ½  acre lot. The home has hardwood floors throughout the main level, an updated kitchen, recessed lighting and a large family room on the lower level.

Here is the breakdown of costs to buy a home in this price range – assuming an interest rate of 6.5% and annual taxes of $8,585 and using the George Mason Mortgage Calculator:

5% down payment = $40,375 and your monthly mortgage payment would be $5,975

10% down payment = $80,750 and your monthly mortgage payment would be $5,559 

20% down payment = $161,500 and your monthly mortgage payment would be $4,903

If you are looking to purchase a home in Fairfax or have questions about living in Fairfax feel free to get in touch.