Wondering how much cash you will need at the settlement table in Franconia? You are not alone. Closing costs can feel opaque, especially when you are budgeting for down payment, inspections, and the move itself. In this guide, you will learn what buyers typically pay in Fairfax County, how those costs break down, and simple ways to keep more cash in your pocket. Let’s dive in.
What buyers pay at closing
You can plan on total buyer closing costs and prepaids equal to about 2%–5% of the purchase price. Your exact numbers will appear on your Loan Estimate early in the process and your Closing Disclosure at least three business days before closing.
Two buckets of costs
- Closing fees due at settlement: lender charges, title and settlement fees, recording fees, and any agreed credits.
- Prepaids and reserves: first year of homeowner’s insurance, prepaid interest, and initial escrow deposits for property taxes and insurance. HOA dues may be collected if due at transfer.
Typical closing fees in Fairfax County
Lender and loan-related fees
These often include origination, processing, underwriting, credit, appraisal, rate lock, and any mortgage points you choose to buy. The combined lender cost commonly totals about 0.5%–1.5% of the purchase price. You can shop lenders and compare fees, points, and credits to improve your cash to close.
Title, settlement, and title insurance
Title companies commonly handle closings in Virginia. Buyer charges can include title search and exam, settlement fee, document handling, and title insurance. The lender’s title policy is required. The owner’s policy is optional but often recommended. Combined, this category often runs about 0.3%–1.5% of the price, depending on fee schedules and whether you choose owner’s title coverage.
Government recording and transfer fees
Expect deed and mortgage recording charges and related county or clerk fees. These are usually a smaller line item that ranges from the hundreds to low thousands, depending on what gets recorded. Your title company will quote the exact figures for Fairfax County.
Prepaids and escrows
You will prepay interest from the closing date to your first payment period. You also fund the first year of homeowner’s insurance (if required) and initial escrow deposits for taxes and insurance. This category often totals about 0.5%–1.5% of the price, but timing and insurance premiums can shift the range.
Inspections, surveys, and third-party reports
Plan for your general home inspection, plus any termite or specialized inspections. These are usually flat-fee items. Inspections commonly range from $300 to $800, with specialized reports added as needed. Some lenders or title companies may require a survey.
Loan program specifics
- Conventional loans with less than 20% down often include private mortgage insurance that may be paid monthly or upfront.
- FHA loans include an upfront mortgage insurance premium and monthly MIP.
- VA loans include a funding fee unless you are exempt. VA financing is common in the Franconia area given proximity to Fort Belvoir, and that fee changes your cost structure.
HOA and condo items
Some associations charge transfer or document fees, which can fall to buyer or seller depending on the contract. Many are $100–$400, and condo document fees vary.
How much to budget: Franconia examples
These ballpark examples use the 2%–5% planning rule. Your lender’s Loan Estimate and Closing Disclosure will provide your exact numbers.
Example A: Townhome or condo at $400,000
- Estimated total closing costs and prepaids: $8,000–$20,000
- Lender fees: $2,000–$6,000
- Title and settlement, including optional owner’s title: $1,200–$4,000
- Prepaids and initial escrows: $2,000–$4,000
- Inspections and HOA-related items: $500–$1,500
- Recording and other government fees: $300–$1,500
Example B: Single-family at $650,000
- Estimated total closing costs and prepaids: $13,000–$32,500
- Lender fees: $3,250–$9,750
- Title and settlement, including owner’s title: $1,950–$6,500
- Prepaids and initial escrows: $3,250–$9,750
- Inspections and HOA-related items: $500–$2,000
- Recording and other government fees: $600–$1,500
Example C: Single-family at $900,000
- Estimated total closing costs and prepaids: $18,000–$45,000
- Lender fees: $4,500–$13,500
- Title and settlement, including owner’s title: $2,700–$9,000
- Prepaids and initial escrows: $4,500–$13,500
- Inspections and HOA-related items: $500–$2,500
- Recording and other government fees: $600–$1,500
Local Fairfax and Franconia factors
- Settlement agent practice: Title companies typically handle closings and escrow in Virginia. Expect a Closing Disclosure from your lender and a settlement statement from the title company.
- Property tax proration: Fairfax County’s billing schedule drives prorations. You may see a tax credit from the seller or a charge to you, depending on timing.
- Transfer and recording costs: These vary by the documents recorded. Your settlement agent will confirm exact county fees.
- Market and loan mix: With Fort Belvoir nearby, VA loans are common in Franconia and across Fairfax County, which can change upfront costs due to the VA funding fee. Down payment assistance or grant programs may also be available to eligible buyers.
Smart ways to reduce cash to close
- Shop lenders and compare full Loan Estimates, not just the rate. Look at origination fees, points, credits, and APR.
- Ask for seller concessions in your offer. Lender program limits apply, and market conditions affect how much a seller may agree to cover.
- Negotiate title and settlement splits in the contract. Local custom exists, but many fees are negotiable between parties.
- Consider trading rate for credits. A slightly higher rate can generate a lender credit that reduces cash at closing. Weigh the lifetime cost.
- Roll allowable costs into the loan. Some programs permit financing certain fees, which raises the loan amount.
- Explore down payment or closing cost assistance programs for Fairfax County if you are eligible.
- Time your closing date to limit prepaid interest. Closing closer to a payment cycle start can reduce daily interest paid at settlement.
- Decline optional add-ons you do not need. Do not skip lender-required items without guidance.
- Understand the owner’s title decision. Waiving it reduces upfront cost but removes that layer of protection. Discuss risks before deciding.
Documents you will receive and what to check
- Loan Estimate: Arrives within three business days of loan application. Check the interest rate, APR, loan costs, projected payments, and estimated cash to close.
- Closing Disclosure: Delivered at least three business days before closing. Verify rate and payment, cash to close, lender credits, and that any seller concessions are applied.
- Title commitment: Review the legal description, listed exceptions, and any requirements the title company needs cleared before settlement.
- Settlement statement: Confirms the final accounting of all debits and credits. Make sure wired funds match the cash to close.
Buyer and seller fee responsibilities
Who pays what in Fairfax County depends on your contract and loan rules. Some fees are customary, but many items can be assigned to either party through negotiation. Your lender may cap seller-paid concessions depending on the loan program, and your title company will show the final allocation on the settlement statement.
Next steps
If you are budgeting for a purchase in Franconia or anywhere in Fairfax County, the right plan starts with clear numbers and smart negotiation. We help you interpret your Loan Estimate, structure offers that preserve cash, and coordinate with your lender and title company so there are no surprises at the table. For a tailored plan and clear next steps, connect with Herbert Riggs to Request a Strategy Consultation.
FAQs
Who pays which fees in Fairfax County for a buyer purchase?
- Many fees are negotiable in Virginia and are assigned by the contract, with lender limits on seller-paid concessions and the settlement statement showing the final split.
How much cash should I plan to bring to closing in Franconia?
- A practical rule is 2%–5% of the purchase price for closing costs and prepaids, with exact amounts shown on your Loan Estimate and Closing Disclosure.
What counts as prepaids versus closing fees for buyers?
- Prepaids cover items like homeowner’s insurance, prepaid interest, and initial tax and insurance escrows, while closing fees include lender, title, settlement, and recording charges.
Can the seller pay some of my closing costs?
- Yes, seller concessions can cover allowable closing costs within your loan program’s limits, subject to negotiation and market conditions.
How do loan types change buyer closing costs?
- Conventional loans may include PMI, FHA adds upfront and monthly mortgage insurance, and VA loans include a funding fee for most buyers, all affecting cash to close.
What is the difference between lender’s and owner’s title insurance?
- The lender’s policy protects the lender and is required, while the optional owner’s policy protects your ownership interests for covered title issues.
How are Fairfax County property taxes prorated at settlement?
- Taxes are prorated based on the county’s billing cycle and the closing date, resulting in a credit or charge that appears on your settlement statement.
When will I get my final Closing Disclosure?
- You will receive the Closing Disclosure at least three business days before closing, which gives you time to review figures and ask questions.
Are there local programs that can help with closing costs?
- Some state or county programs offer closing cost or down payment assistance for eligible buyers, which your lender and agent can help you evaluate.
