Closing on a home in Virginia
The taxes, the closing rules, and the programs Virginia buyers and sellers are entitled to — whether anyone at the table mentions them or not.
The Virginia basics
Layered recordation taxes: the buyer typically pays state deed recordation tax ($0.25 per $100) plus a local third; the seller pays the grantor tax ($0.50 per $500), with additional regional taxes in Northern Virginia and Hampton Roads.
Attorneys or licensed settlement agents may close (CRESPA). You have the legal right to select your own settlement agent — Virginia says so explicitly.
Virginia Housing offers statewide down payment assistance grants (not loans — grants) for eligible first-time buyers, plus DPA second mortgages.
What to watch for in Virginia
Virginia law gives the buyer the explicit right to choose the settlement agent. If anyone tells you the closing 'has to' go through a particular company, they are wrong on the law.
Virginia's Wet Settlement Act requires funds to be disbursed within two business days of settlement — a seller waiting longer than that for proceeds should ask why.
Recordation taxes stack (state + local + regional in some metros): get the full recording-cost picture on your Loan Estimate, because it varies meaningfully by locality.
Questions Virginia buyers ask
Is there a transfer tax when buying a home in Virginia?
Layered recordation taxes: the buyer typically pays state deed recordation tax ($0.25 per $100) plus a local third; the seller pays the grantor tax ($0.50 per $500), with additional regional taxes in Northern Virginia and Hampton Roads.
Do I need an attorney to close on a house in Virginia?
Attorneys or licensed settlement agents may close (CRESPA). You have the legal right to select your own settlement agent — Virginia says so explicitly.
What down payment assistance is available in Virginia?
Virginia Housing offers statewide down payment assistance grants (not loans — grants) for eligible first-time buyers, plus DPA second mortgages.
Worth reading before any closing
- The Rate Lock Trap: What Homebuilders Won't Tell You About New Construction
If your new construction home isn't finished before your mortgage rate lock expires, you could lose your deposit AND face a payment jump of $500 or more per month. Here is what you need to know before you sign.
- That $100-a-Month Savings on Your Mortgage May Be Sitting in Your Credit File Right Now
VantageScore 4.0 is now live for conventional loans — here's how to find out if your lender is hiding a lower rate from you.
- Your Right to Negotiate Real Estate Commissions Just Became Real. Here's How to Use It.
The NAR settlement that took effect August 17, 2024 gave home buyers and sellers something they always had on paper but rarely used: real power to negotiate agent commissions. Here's what changed, what it means for your closing, and exactly how to use it.
- Deed Theft Is Spiking. Here's What Could Disappear From Your Closing If You're Not Watching.
Complaints jumped 240% in two years. A new NYC office is fighting back. Here's how to protect your title before someone steals your house out from under you.
- Your FHA Pre-Approval Just Jumped $17,000
FHA loan limits for 2026 are now $541,288 baseline — up $17,000 from 2025. Here's what that means for your buying power and what to do before you lock your rate.
- Wire Fraud Is Hitting 1 in 20 Home Closings. Most Buyers Have No Idea They Are the Target.
Criminals now steal $70,000 or more per incident using AI and spoofed emails. Here is the one rule that stops almost every scheme.