Closing Costs When Buying a Home in Virginia: The 2026 Breakdown

Closing costs are the second biggest surprise for Virginia home buyers, right after the down payment. In 2026, buyers in Hampton Roads typically pay 2% to 5% of the purchase price in closing costs on top of their down payment. On a $400,000 home, that is $8,000 to $20,000 in cash at settlement. Here is exactly what that money covers and where it goes.

The 2% to 5% Range, Explained

The total depends on your loan type, your lender, and the city where you buy. Conventional buyers usually land in the middle of that range. The biggest line items are lender fees, title work, and the taxes Virginia charges at the closing table. I tell every buyer looking at homes for sale in Hampton Roads to budget for closing costs from day one, not after the offer is accepted.

What You Are Actually Paying For

• Loan origination fee. What the lender charges to process your mortgage, typically 0.5% to 1% of the loan amount.
• Appraisal fee. Usually $400 to $700, covering the independent valuation the lender requires.
• Home inspection fee. $400 to $600, paid separately but part of the same budget picture.
• Title insurance. The lender's policy is required; the owner's policy is optional but strongly recommended.
• Title search and settlement fees. The title company's work verifying ownership and running the closing.
• Recording fees. What the county charges to record the deed and the mortgage, usually a few hundred dollars.
• Prepaid items. Escrowed property taxes and homeowners insurance, plus prepaid interest.

The Virginia Taxes at Closing

Virginia collects two real estate taxes at closing, and buyers and sellers split them. Buyers pay the state recordation tax: $0.25 per $100 on the deed, plus $0.25 per $100 on the mortgage amount, and cities can add up to one third of the state rate on top. In most Hampton Roads cities that works out to roughly $0.33 per $100, or about $2,400 on a $400,000 home with a typical mortgage. The grantor's tax, $0.50 per $500 of the sale price, is the seller's tax in Virginia, not the buyer's, though the parties can agree otherwise.

How VA Loans Change the Picture

For military buyers, VA loans cap the origination fee at 1% and ban junk fees. The VA funding fee is 2.15% of the loan for first-time use and 3.3% for subsequent use, and it can be rolled into the loan instead of paid upfront. Veterans with a service-connected disability are exempt. VA buyers can also ask sellers to cover up to 4% of the purchase price in concessions, which in a balanced market often covers most of the closing costs. Our VA loan guide for Hampton Roads explains the process in full.

Negotiating Seller Concessions

In a balanced market like the one Hampton Roads is in right now, seller concessions are common. Buyers can ask the seller to credit a few thousand dollars toward closing costs as part of the offer. It is a standard negotiation, and it can cut the cash you need at the table dramatically. A real estate agent Virginia Beach buyers can trust should be running these numbers before you write an offer, not after. Our buying guide covers how to build seller concessions into your offer strategy.

The Bottom Line

Plan for 2% to 5% on top of your down payment, read your Closing Disclosure line by line, and negotiate concessions before you sign. After 24 years and over 1,000 transactions in this market, I know the lenders, title companies, and inspectors who do the job right, and I will help you put together a clear picture of your total costs before you make an offer. If you have a specific question about your situation, the FAQ page covers a lot of them, and I am always one call away. Talk soon.