Virginia Closing Costs

Closing costs can be a bit confusing for pretty much anybody, whether you are a new homebuyer, an experienced one or a refinancing homeowner. They are basically expenses that come with the mortgage loan process. Since mortgage loans are offered by lenders, closing costs are also charged by and paid to lenders. But there are third party fees involved. Lender’s costs include loan origination fees, while third party costs are things like appraisal fees, survey fees, title insurance and taxes among others.

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Average closing costs range from 0.9% up to around 5% of the total loan amount. The average amount in Virginia is $2,127 for a $200,000 mortgage. That is just slightly more than 1% of the loan amount and a bit higher than the national average of $1,847. Note that not all lenders have the same items on their closing costs so you can expect that the value can vary from one lender to another.

Also, the location of your house will play a role in determining how much you will pay. Of course appraisers, surveyors and other third parties charge differently for different areas. If you want a more accurate Virginia closing costs estimate, contact Moreira Team and we will give you a breakdown of each item based on your type of loan, property, and location.


It is worth mentioning that in Virginia you don’t necessarily have to pay the closing costs upfront. The lender can roll them into your mortgage loan and offer you a “no-cost” loan. But you still have the option to pay all or part of the costs when making your down payment. Moreira Team can help you get a loan that matches your current financial health. If you can’t raise money for Virginia closing costs we will assist you in getting a no-cost loan. Give us a call today.