Summary answer: On a $700,000 home in Herndon — right around the area's own median — expect buyer closing costs of roughly $14,000-$21,000 (about 2-3% of purchase price), before prepaid items like taxes and insurance.
I'm Johnny with JQ Real Estate. Here's exactly what's in that number.
What's actually in Herndon closing costs
| Cost Category | Typical Range on $700K |
|---|---|
| Lender fees | $3,500-$5,800 |
| Title insurance & settlement fees | $2,900-$4,700 |
| Recording & transfer taxes | $2,300-$4,100 |
| Prepaid property taxes & insurance | $2,700-$4,700 |
| Condo/HOA transfer fee, if applicable | $150-$500 |
Why Herndon's standard Fairfax County tax rate matters here
At $1.1225 per $100 of assessed value, the standard Fairfax County rate applies here — factor this into your prepaid escrow amount at closing. On a $700,000 home, that works out to roughly $655/month in property tax, and lenders typically collect several months of it upfront into escrow.
How your property type changes this number
If you're buying a condo (median $250,000-$450,000) rather than a single-family home at Herndon's median, your closing costs scale down proportionally — expect roughly $6,000-$10,000 total on a $350,000 condo purchase, plus any HOA transfer or reserve fund contribution the building requires.
What to bring to your lender conversation
Come prepared with your last two years of tax returns, recent pay stubs, and a list of any other debts or assets — the more complete your picture upfront, the faster and more accurate your pre-approval will be. Herndon's genuine mix of condos, townhomes, and single-family homes means your lender should also know which property type you're targeting, since this can affect loan program eligibility and appraisal requirements.
Get an exact number for your deal
Reach out once we've identified a target property and I'll run your real numbers, including any building-specific fees.
One more thing worth mentioning: rate shopping across at least two or three lenders genuinely pays off, even a quarter-point difference adds up meaningfully over a 30-year loan term.
For more Herndon buyer and seller questions, visit our Herndon real estate hub.