Virginia closing cost calculator
Virginia buyers pay recordation tax twice when they finance: about 0.33% of the price on the deed and about 0.33% of the loan on the
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Same loan and costs, different prices. Useful for weighing
A Virginia purchase, worked out
The calculator opens on $405,000, about the median value of an owner-occupied home in Virginia ($403,500, 2024 Census estimate), with 20% down on a 30-year conventional loan and a closing on
The buyer brings about $91,772: $81,000 down and $10,772 in closing costs, 2.7% of the price. Virginia’s taxes on the buyer come to $2,430 of that: recordation tax on the deed $1,350, recordation tax on the mortgage $1,080. The monthly payment comes to about $2,555, with property
| Down payment | $81,000 |
|---|---|
| Origination and lender feesest. | +$3,240 |
| Appraisalest. | +$700 |
| Lender’s title insuranceest. | +$500 |
| Owner’s title insuranceest. | +$1,418 |
| Settlement or escrow feeest. | +$600 |
| Recording feesest. | +$250 |
| Recordation tax on the deed | +$1,350 |
| Recordation tax on the mortgage | +$1,080 |
| Property tax credit from the sellerest. | −$3,750 |
| Homeowner’s insurance, first yearest. | +$2,025 |
| Prepaid interest (27 days)est. | +$1,558 |
| Property tax escrow (3 months)est. | +$1,013 |
| Insurance escrow (2 months)est. | +$338 |
| Home inspectionest. | +$450 |
| Cash to close | $91,772 |
Estimates are tagged “est.”; Virginia’s taxes follow its rules. A “−” is a credit, like the seller’s share of this year’s property tax where it’s paid after
At other prices
Virginia’s buyer taxes: the recordation tax on the deed (0.333% of the price); the recordation tax on the mortgage (0.173% to 0.333% of the loan, by amount). Each row has 20% down on
| Price | Virginia’s buyer taxes | Closing costs | Cash to close | Monthly payment |
|---|---|---|---|---|
| $250,000 | $1,500 | $7,897 | $57,897 | $1,597 |
| $500,000 | $3,000 | $12,710 | $112,710 | $3,153 |
| $750,000 | $4,500 | $17,975 | $167,975 | $4,730 |
| $1,000,000 | $6,000 | $23,300 | $223,300 | $6,307 |
| $2,000,000 | $12,000 | $44,599 | $444,599 | $12,613 |
Buying in Virginia: what to know
Taxes buyers pay
Virginia buyers pay state recordation tax of $0.25 per $100 on the deed plus a local tax of one-third of that, about 0.333% of the price in total. Financed buyers pay the same rate again on the loan’s deed of trust. A $400,000 home with a $320,000 loan pays about
Grantor tax
Virginia’s grantor tax is $0.50 per $500 (0.1%) of the price or value, whichever is greater, not counting loans that stay on the property, and the seller pays it unless the parties agree otherwise. Northern Virginia localities add a regional WMATA capital fee of 0.1% and a congestion relief fee of 0.1%, both paid by the seller, for about
Title insurance
The owner’s policy is optional in Virginia, and the buyer customarily
Who runs the closing
Virginia closings are handled by settlement agents, either attorneys or licensed title and settlement companies. An attorney isn’t required, and the seller usually pays
Property taxes and escrow
Virginia property tax is set by each locality. Many bill semiannually around June 5 and December 5 for the calendar year, but schedules differ, so the proration direction depends
Local differences
Northern Virginia (localities in the regional transportation authority, including Fairfax, Arlington, Loudoun and Prince William counties and Alexandria): two extra seller-paid fees of 0.1% each. The local recordation tax has been confirmed for Fairfax County and is
Buying in Virginia: questions
What is the recordation tax in Virginia?
Virginia buyers pay $0.25 per $100 to the state plus a local tax of one-third of that, about 0.333%, on the deed, and the same on the deed of trust
Is my mortgage taxed in Virginia?
Yes. Unlike D.C. and Maryland, Virginia taxes the purchase loan’s deed of trust, about 0.333% of the loan for
Who pays for title insurance in Virginia?
The owner’s policy is optional in Virginia, and the buyer customarily pays for it, along with
How much are closing costs in Virginia?
On a $405,000 home with 20% down on a conventional loan, the calculator’s estimates put a Virginia buyer’s closing costs at about $10,772, or 2.7% of the price, and cash to close at $91,772. Virginia’s taxes on the buyer come to $2,430 of that: recordation tax on the deed $1,350, recordation tax on the mortgage $1,080. Lender fees, insurance and the rate vary, so put in your lender’s Loan Estimate for
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Sources
Virginia’s rules were checked against these on
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Further reading
All posts
What buyers pay at closing in every state: lender and loan fees, title, buyer-only taxes like Florida's note stamps and New York's mortgage
Every line on a seller net sheet explained: commissions, payoffs, title, transfer taxes and prorations, with a worked example and every
Every state's transfer tax, checked: 36 places charge one, 15 don't, and on a $400,000 sale it runs from $40 to $16,000. Who pays
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