Down payment
The portion of the price you are not financing.
Part of cash to close, not a closing fee.Virginia buyer closing costs
Buyer Closing Costs Calculator: How Much Cash Will You Need?
You give me the numbers you know. I’ll help you separate your down payment, closing expenses, reserves, deposits, and credits—before the Loan Estimate arrives.
Start with the right total
Closing costs are not the same as cash to close.
Closing costs are the lender, title, government, insurance, and prepaid expenses tied to the transaction. Cash to close also includes your down payment, then subtracts deposits and credits already working in your favor.
Down payment + closing costs − deposits − credits = cash to closeYour lender’s final Closing Disclosure controls. This is an educational planning estimate.
1. Purchase, place, and timing
Tell me the price you’re considering, where the home is, and when you expect to close. I’ll use those three answers to build the rest of your estimate.
Property-tax assumptions reviewed August 12, 2026.
Used to estimate the prepaid-interest period.
Why I ask for these details
Purchase priceDetermines your down payment and many percentage-based government or loan charges.
LocationVirginia counties and independent cities can have different tax rates and billing calendars.
Closing dateChanges prepaid interest, tax prorations, and sometimes the first mortgage-payment timing.
YOUR WORKSHEET SO FARPlanning foundation
Purchase price being evaluated$750,000
No cost has been added yet. This number drives the calculations that follow.
2. Financing, equity, and loan charges
Next, tell me how you expect to pay for the home. I’ll separate the money becoming your equity from the charges connected with getting the loan.
Useful when you compare the lender’s payment estimate.
Used here only for prepaid interest.
Use the total from Section A of a Loan Estimate when available.
Some may be paid before closing but remain part of acquisition cost.
Automatically adjusted when you select a closing date.
Only if your lender collects an upfront or initial amount.
Enter only the portion the contract requires you to pay at closing.
What these loan charges mean
Down paymentBecomes your equity. It is part of cash to close, not a fee paid to the lender.
Lender chargesOrigination, underwriting, discount points, and processing costs appear in the Loan Estimate.
Appraisal and verificationThird-party services used to evaluate the property and loan file; some may be paid before settlement.
Program chargesFHA and VA financing can include upfront program costs. Financing them raises the loan instead of today’s cash requirement.
Buyer compensationOnly include a buyer-paid obligation that is not covered by the seller, listing broker, or another credit.
AFTER FINANCINGEquity and loan subtotal
Down payment$150,000
Lender, program, and buyer-broker charges$5,250
Running cash estimate$155,250
3. Insurance, taxes, and escrow reserves
This is the part I would slow down and review with you. These amounts increase your cash to close, but much of the money is paying a future bill or funding your escrow account—not disappearing as a fee.
The first policy year is commonly paid at or before closing.
Why these are not all “fees”
Prepaid interestPays mortgage interest from settlement through the end of that month. A later closing date usually means fewer days.
Homeowners insuranceThe first annual premium generally protects the home for the coming year; additional months may seed the lender’s escrow account.
Property-tax reserveMoney held for a future tax bill. The exact amount depends on local billing cycles, settlement timing, and lender rules.
Escrow cushionA limited reserve lenders may collect to prevent the account from falling short when bills change.
AFTER PREPAIDS AND ESCROWWhat this section added
Previous subtotal$155,250
Prepaid interest+$1,603
Insurance, taxes, and reserves+$4,815
Updated cash estimate$161,668
4. Title, settlement, government, and association charges
Here, I want you to see who is being paid to examine ownership, coordinate settlement, protect title, record the transfer, and satisfy any association requirements.
Generally required when financing the purchase.
Protects the buyer’s ownership interest; review coverage and price in writing.
Use the contract and association disclosure; responsibility varies.
Estimate Virginia recordation taxesUses the price and financed amount. Confirm exemptions and allocation with the settlement company.
What the title and government charges cover
Lender’s title policyProtects the lender’s lien position. It does not replace an owner’s policy.
Owner’s title policyProtects the buyer from covered ownership or title defects after settlement.
Settlement servicesCan include title examination, document preparation, closing coordination, secure funds handling, and disbursement.
Recording and taxesGovernment charges connected with recording the deed and, when financed, the deed of trust.
Association chargesMay include resale packages, transfer fees, working-capital contributions, or prorated dues. The contract controls who pays.
AFTER TITLE AND SETTLEMENTWhat this section added
Previous subtotal$161,668
Title and settlement+$3,550
Government and association+$4,150
Updated cash estimate$169,368
5. Deposits, concessions, and final adjustments
Now let’s give you credit for money you already paid and assistance you negotiated. Then we’ll add anything unique to your contract before looking at your final number.
Normally appears as a credit and reduces the remaining cash due.
Examples: home warranty, special inspection, courier, or contract-specific charge.
Examples: assistance program, repair allowance, or other written credit.
This label will be included in the emailed worksheet.
Shown separately from settlement cash so it is not double-counted.
How credits and paid-ahead costs work
Earnest-money depositMoney already delivered with the contract. It generally comes back as a credit on the settlement statement.
Seller concessionA negotiated credit subject to the contract and loan-program limits. Unused credit may not become cash back.
Lender or builder creditMay reduce eligible closing costs but can be connected to an interest rate, lender, or builder incentive.
Paid-before-closing costsInspections and similar services are part of total acquisition cash even when they are absent from the final cash-to-close figure.
YOUR ESTIMATED CASH TO CLOSEFinal running worksheet
Previous subtotal$169,368
Additional closing expense+$0
Deposit and credits−$10,000
Estimated cash to close$159,368
$650 in inspection or other paid-ahead costs is shown separately.
What the estimate includes
Seven parts of a buyer’s cash requirement
A useful buyer net sheet should show where the money goes and when it is paid—not hide everything inside one percentage.
Lender charges
Origination, underwriting, points, appraisal, and credit-related charges.
Compare the Loan Estimate.Prepaids
Interest, homeowners insurance, taxes, and escrow deposits.
Timing changes the amount.Title and settlement
Settlement services, title search, and lender or owner title coverage.
Request a written quote.Government charges
Recordation taxes and clerk fees associated with the deed and mortgage.
Calculated from price and loan.Credits and deposits
Earnest money and negotiated seller, lender, builder, or assistance credits.
These reduce cash due.Different buyer paths
Financed and cash buyers do not have the same worksheet.
A cash buyer avoids lender costs and mortgage recordation tax, but still needs to plan for title, settlement, inspections, insurance, taxes, deposits, and possible association charges.
Using a mortgage
- Down payment and lender charges
- Appraisal and credit costs
- Prepaid interest and escrow funding
- Lender title policy and mortgage recordation
- Possible mortgage-insurance or program fees
Paying cash
- No lender origination or appraisal requirement
- No prepaid mortgage interest
- No mortgage recordation tax
- Owner title coverage remains a decision
- Settlement, inspections, and deed charges still apply
First-time buyer, condo, VA, FHA, relocation, and new-construction transactions can each add another layer. Use this estimate to prepare questions, then compare it with written lender and settlement documents.
Buyer closing-cost questions
What buyers usually ask before settlement
How much are buyer closing costs in Virginia?
A planning range is often expressed as a percentage, but the useful answer depends on the loan, purchase price, settlement quote, recordation taxes, insurance, prepaid interest, escrow deposits, and credits. This calculator itemizes those variables instead of applying one headline percentage.
What is the difference between closing costs and cash to close?
Closing costs are transaction expenses and prepaids. Cash to close adds your down payment, then subtracts deposits and credits. The final figure appears on your Closing Disclosure.
Does the earnest-money deposit reduce cash to close?
Yes. The deposit is generally credited to you at settlement, subject to the contract and closing statement. Enter it in the calculator so it is not counted twice.
Do cash buyers still pay closing costs?
Yes. Cash buyers usually avoid lender charges, mortgage recordation tax, and prepaid mortgage interest, but can still pay settlement, title, inspection, insurance, deed, tax, and association-related costs.
Who chooses the title company in Virginia?
Virginia buyers generally select the settlement provider. Compare written fee quotes, service, secure handling of funds, local experience, and the title policies offered—not office count alone.
When will my lender give me official numbers?
After a mortgage application, the lender generally provides a Loan Estimate within three business days. The Closing Disclosure is the controlling pre-closing document and should be reviewed against this planning estimate.
Sources and calculation notes: Virginia Code §§ 58.1-801, 58.1-803, and 58.1-814; Consumer Financial Protection Bureau Loan Estimate and Closing Disclosure guidance. Percentage-based charges use the numbers entered. Actual treatment can change with contract terms, exemptions, lender pricing, billing status, and the final settlement calculation.
No cost. No obligation.
Want a second set of eyes on the estimate?
Bring your Loan Estimate, fee worksheet, or builder incentive sheet. I’ll help you separate genuine savings from costs that were simply moved to another line.
