How to Buy a House in Virginia
Updated 2026-03-02 | Data from Zillow, HUD, Tax Foundation
Avg Home Price
$416,516
Closing Costs
$16,054
3.85% of price
Property Tax Rate
0.77%
$2,665/yr median
Days on Market
30
Median
FHA Loan Limit
$472,030
Attorney Required
Yes
Foreclosure Type
Non-Judicial
Transfer Tax
0.25%
$0.25 per $100
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Key Facts About Buying in Virginia
- ✓Northern Virginia market driven by DC proximity
- ✓Non-judicial foreclosure state
- ✓Moderate property taxes and closing costs
- ✓Fast-moving market near DC metro
The Home Buying Process in Virginia
Buying a home in Virginia follows a 10-step process. As an attorney state, you'll need legal representation at closing.
1
Check Your Credit Score & Finances
2
Get Pre-Approved for a Mortgage
3
Find a Real Estate Agent
4
Search for Homes & Make an Offer
5
Get a Home Inspection
6
Secure Your Financing
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First-Time Buyer Programs in Virginia
VHDA First-Time Homebuyer Programs
Below-market rate with closing cost assistance
Below-market rates + up to 2% closing cost helpIncome: Varies by area
Cost of Buying a Home in Virginia
| Down Payment (3.5% FHA) | $14,578 |
| Down Payment (20% Conventional) | $83,303 |
| Average Closing Costs | $16,054 |
| Transfer Tax | $1,041 |
| Annual Property Tax (est.) | $3,207/yr |
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Legal & Regulatory Details in Virginia
Homestead Exemption
Available
Up to $25,000 (varies by locality)
Licensing Authority
Virginia Real Estate Board
Virginia Real Estate Law Overview
| Conveyance Document | General-warranty or special-warranty deed |
| Security Instrument | Deed of trust |
| Foreclosure Process | Non-Judicial |
| Attorney Required at Closing | Yes |
| Deficiency Judgment | Yes |
| Redemption After Sale | No |
| Reinstatement Available | No |
| Seller Disclosures | Sellers must provide a disclosure statement that essentially tells buyers they are responsible for inspection. Sellers need not disclose property conditions except for specified issues (septic-system problems, prior meth labs, code violations, military air installations, stormwater facilities). Sellers must not conceal defects; buyers can cancel if disclosures are not delivered before signing. |
