Mortgage payment estimates, closing cost breakdowns, and first-time buyer programs for Virginia homebuyers.
Pre-filled with Virginia medians. Adjust for your property.
Estimated closing costs based on Virginia tax rates and fees.
The median home price in Virginia is $400,000, with property taxes averaging 0.82% annually. Virginia's property tax rate is roughly in line with the national average.
Closing costs in Virginia average $6K (1.5%% of purchase price). The state charges a 0.25% transfer tax on real estate transactions, which modestly adds to closing costs. Homeowners insurance runs approximately $1,700 per year. This is within the normal range nationally.
Virginia offers the Virginia Housing DPA Grant for first-time buyers: Up to 2.5% grant. Contact your state housing finance agency or a HUD-approved housing counselor for eligibility details and application steps.
Virginia is a higher-cost market. At $400K median, buyers need significant savings or strong income. Down payment assistance and competitive rate-shopping become especially important.