Summary answer: To buy in Arlington in 2026, plan on having somewhere between $15,000 and $90,000+ saved, depending heavily on whether you're buying a condo or a single-family home and what loan type you use. A VA-eligible buyer purchasing a $400K condo might need as little as $15,000–$20,000 for closing costs and reserves with zero down payment. A conventional buyer targeting a $900K single-family home with 10% down is looking at closer to $100,000 total.
I'm Johnny with JQ Real Estate. The range is wide because Arlington genuinely has two different housing markets under one zip code — let me break down what you actually need for each.
The two paths, side by side
| Scenario | Purchase Price | Down Payment | Closing Costs | Est. Total Cash Needed |
|---|---|---|---|---|
| VA loan, condo | $400,000 | $0 | ~$10,000–$12,000 | ~$15,000–$20,000 (with reserves) |
| Conventional, condo, 10% down | $450,000 | $45,000 | ~$9,000–$12,000 | ~$55,000–$60,000 |
| Conventional, single-family, 10% down | $900,000 | $90,000 | ~$18,000–$25,000 | ~$110,000–$115,000 |
The gap between these scenarios is the whole story in Arlington: your target property type determines your savings target far more than any general "rule of thumb" percentage would suggest.
What "saved" actually needs to cover
- Down payment — 0% (VA) up to 20% (to avoid PMI on conventional), most buyers land somewhere between 5–10%
- Closing costs — typically 2–3% of purchase price
- Reserves — many lenders want to see 2–6 months of mortgage payments in reserve after closing, especially for condos where HOA dues factor into your total housing cost
- Move-in costs — often overlooked, but movers, immediate repairs, and furnishing add up fast in a first home
Why reserves matter more for Arlington condos specifically
Arlington condo buildings often carry HOA fees in the $300–$600+/month range, and lenders factor that into your total housing payment when calculating reserves requirements — not just your mortgage. A buyer targeting a condo with high HOA fees may need larger cash reserves than the down payment and closing cost math alone would suggest, even though the purchase price itself is lower than a single-family home.
Ways to reduce what you need upfront
- VA loan eligibility — removes the down payment requirement entirely if you qualify
- Down payment assistance programs — several exist for first-time Virginia buyers and can meaningfully close the gap
- Seller-paid closing costs — negotiable in some situations, particularly on slower-moving listings
- Gift funds — most loan programs allow down payment gifts from family, which can be combined with your own savings
Build your real number
These scenarios are starting points — your actual number depends on the specific property, loan program, and lender. I can walk you through a realistic savings target based on what you're actually trying to buy, condo or single-family, before you start touring. Reach out and let's map out your number.