Summary answer: On a $1,000,000 Vienna home with 10% down, plan for buyer closing costs and prepaids of roughly $17,827 to $29,327, or about 1.8% to 2.9% of the price, including several thousand dollars of prepaid taxes and insurance that go into escrow. Your number depends on your loan type, whether you buy a condo with dues, and what you negotiate with the seller. VA buyers and buyers who negotiate seller credits can reduce what they bring to the table. Treat every figure here as a planning estimate until your Loan Estimate arrives.
I'm Johnny with JQ Real Estate. Here is exactly what is inside that number so nothing surprises you at settlement.
What closing costs include
Closing costs are the fees to originate your loan, insure your title, and record your purchase, plus the money you put up front to fund your escrow account. Here is a planning breakdown for a $1,000,000 purchase with a $900,000 loan:
| Cost Category | Planning Range on $1M |
|---|---|
| Lender fees (origination, underwriting, processing) | $4,000–$7,000 |
| Title insurance and settlement fees | $3,500–$6,000 |
| Recordation taxes and recording fees (buyer) | $6,327 (about $3.33 per $1,000 on the price and the loan) |
| Appraisal, credit report, and inspection | $1,000–$2,000 |
| Prepaid taxes and insurance reserves | $3,000–$8,000 |
The first four rows are true closing costs. The last is prepaid money that goes into escrow, so it is cash you spend but not a fee. The prepaid line depends heavily on your closing date and insurance quote.
Virginia's transfer taxes
In Virginia the seller customarily pays the grantor's tax, and the buyer pays recordation tax on the deed, based on the price, and on the deed of trust, based on the loan amount. Together the state and local portions come to roughly $3.33 per $1,000 in many Northern Virginia jurisdictions, and I used that figure above, but confirm it on your Loan Estimate. Your settlement company will itemize everything on the Closing Disclosure, which you receive at least three business days before closing. Compare it line by line with your Loan Estimate.
Property taxes in escrow
Properties inside the Town of Vienna pay Fairfax County's real estate tax of $1.12 per $100 of assessed value (adopted May 5, 2026, down from $1.1225, for the budget year that began July 1, 2026) plus the Town of Vienna's tax of 19 cents per $100, which the Town Council cut from 19.5 cents when it adopted the fiscal 2027 budget on May 19, 2026. That is $1.31 per $100 combined. The Town's tax is separate from the county's, and the Town's page lists due dates of July 28 and December 5 with a 10% penalty after each date. The Town estimated that the average bill would still rise about $80 a year because assessments rose, and the county estimated an average increase of $337. Confirm with the Town at 703-255-6325 and with Fairfax County Tax Administration at 703-222-8234, and note that a Vienna mailing address does not always mean the home is inside the Town. On a $1,000,000 assessment, the combined $1.31 comes to about $13,100 a year, or $1,092 a month. Both the Fairfax County and the Town of Vienna real estate tax bills are due in two installments, July 28 and December 5. Your lender collects several months of taxes at closing to seed escrow, and that is why the prepaid line can reach several thousand dollars.
How VA, FHA, and conventional costs differ
- VA loans. The VA limits which fees a veteran can be charged. The funding fee, from 1.25% to 3.3% depending on down payment and use, can be financed.
- FHA loans. You pay an upfront mortgage insurance premium of 1.75%, usually financed, plus monthly insurance.
- Conventional loans. Costs vary by lender, and mortgage insurance applies with less than 20% down.
Condos and HOAs add a few items
- Resale certificate and condo documents. For a condominium, the seller must provide the resale certificate, and you may cancel within three days of receiving it, or per your contract. If it is never delivered, you can cancel any time before settlement.
- Capital contribution or initiation fees. Some buildings charge new owners a one-time fee.
- Prepaid dues. You may owe one or two months of association dues at closing.
How to lower what you bring
- Ask for seller concessions. Redfin reported that 23.9% of Vienna homes had price drops in the period it measured, which means some sellers are open to credits.
- Compare lenders. Origination and processing fees differ.
- Shop title insurance. You can choose your settlement company in Virginia.
- Time your closing. Closing late in the month reduces prepaid interest.
- Consider a lender credit. A slightly higher rate can reduce cash due at closing.
Assistance that can cover closing costs
Virginia Housing offers a down payment assistance grant of 2% of the price on its conventional loan or 2.5% on its FHA loan, and Fairfax County's Housing and Community Development lists below-market Affordable and Workforce Dwelling Units, down payment help and counseling at 703-246-5087 and homeownership@fairfaxcounty.gov. Limits change, so confirm them at virginiahousing.com and with the county before you plan around them.
An example
A buyer purchases a $1,000,000 townhome or house with 10% down. Lender and title fees total roughly $11,000, recordation taxes about $6,327, prepaid items $6,000, and other costs $1,500, for roughly $24,827 in closing cash plus a $100,000 down payment. If the seller agrees to a $10,000 credit, cash to close falls by that amount. A credit is most realistic on a listing that has sat on the market for several weeks. The figures are an illustration.
Get an exact number for your deal
Reach out once we have identified a target property and I'll run your real numbers, loan type included, so you know the cash required before you write an offer.
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