Virginia Closing Cost Calculator

Both parties pay closing costs in Virginia, but the costs are different. Buyers typically pay lender fees, title insurance, appraisal, home inspection, prepaid taxes and insurance, and recording fees. Sellers pay the agent commission, grantor (deed) tax, settlement attorney fees, and any prorated taxes or HOA dues. Virginia is seller-friendly in that the grantor tax is the seller's responsibility, and there is no transfer tax charged to the buyer.

The Virginia grantor tax (also called the deed tax) is $1.00 per $500 of the sale price, which equals 0.2% of the sale price. It is paid by the seller at closing. For example, on a $400,000 sale, the grantor tax would be $800. In Northern Virginia and Hampton Roads, there is an additional regional congestion relief tax of $0.15 per $500 (0.03%) on top of the state grantor tax.

Virginia buyers typically pay between 2% and 4% of the purchase price in closing costs, depending on the loan type and locality. This includes lender origination fees (~1-1.5% of the loan), title insurance, appraisal ($400-600), home inspection ($350-500), settlement attorney fee ($400-800), recording fees ($50-100), and prepaid items such as property taxes, homeowners insurance, and prepaid interest. VA loan borrowers also pay a VA funding fee (0.5% to 2.15% depending on down payment), while FHA borrowers pay an upfront mortgage insurance premium of 1.75%.

Yes. If the property is located in a Northern Virginia locality (Arlington, Fairfax, Loudoun, Prince William, Alexandria, Falls Church, Manassas, or Manassas Park) or a Hampton Roads locality (Chesapeake, Hampton, Newport News, Norfolk, Portsmouth, Suffolk, Virginia Beach, Williamsburg, or James City County), the seller pays an additional $0.15 per $500 of the sale price. This regional tax was established to fund transportation improvements and is collected at settlement alongside the state grantor tax.

There are several strategies to lower closing costs in Virginia. You can negotiate a seller credit (the seller pays a portion of your closing costs, subject to loan-type limits). VA loans allow sellers to contribute up to 4% of the sale price toward buyer closing costs. Shop around for title companies and lenders, as fees can vary significantly. Look into VHDA down payment assistance programs which can cover some upfront costs. Finally, consider a no-closing-cost loan where the lender covers fees in exchange for a slightly higher interest rate.