To keep you fully protected and informed, we’ll review a few disclosures that establish our professional relationship and clarify expectations. In Virginia, a written buyer brokerage agreement must be in place before touring homes—this ensures dedicated representation and transparency from day one.

• Exclusive Buyer Brokerage Agreement — Authorizes exclusive representation, defines duties/term, and explains how compensation may be handled. Includes consumer protections like wire-fraud language.
• Consumer Disclosure Information Form (CDIF) — Checklist of items buyers should independently investigate: zoning, easements, flood risk, insurance, septic/well, wetlands, and more.
• Virginia Property Disclosure Summary (CH7) — Explains what sellers are—and are not—required to disclose; reinforces why inspections and due diligence matter.

1. Buyer Consultation — Goals, neighborhoods, budget, timeline.
2. Pre-Approval — Local lender letter strengthens offers.
3. Home Search — Virtual or in-person tours; refine must-haves vs. nice-to-haves.
4. Offer & Negotiation — Price, credits, contingencies, terms.
5. Under Contract — Deposits, disclosures, inspection scheduling.
6. Due Diligence — Inspection, appraisal, repair/credit negotiations.
7. Clear to Close — Final approval; you receive your Closing Disclosure ≥ 3 business days before closing [7][8].
8. Keys & Move-In — Celebrate; transfer utilities; new-home checklist.

Closing costs generally include lender fees, appraisal, inspections, title/settlement services, and escrow setup.

• Typical range (national): 2%–5% of the purchase price/loan amount [4][5][6].
• Ways to lower cash to close: seller concessions, assistance/grants, lender credits, grant-eligible homes.

• Virginia Housing Down Payment Assistance Grant — true grant (no repayment) [0].
• Virginia Housing Closing Cost Assistance Grant — available with certain loans [3].
• Virginia Housing “Loan Combo” — pair DPA with required education [5].
• Program hub (limits & rules) — start here for current options [2][6][7][8].

Check live rates and estimate payments here:

Mortgage Rates & Calculator

For exact figures, we’ll review options with a licensed lender during your consultation.

• Rates move daily and affect approval and payment.
• Rate locks hold a quoted rate for a set period (e.g., 30/45/60 days; options vary by lender) [12].
• Three-day review — you receive a Closing Disclosure ≥ 3 business days before closing [7][8].

Monthly dues fund shared expenses (exteriors, amenities, master insurance, etc.). Lenders count dues in your DTI, which can reduce buying power. Review rules, budgets/reserves, and any upcoming special assessments.

Usually escrowed and part of your monthly payment; amounts vary by property and insurer.

Inspections assess condition; appraisals support value for the lender. Fees vary; we’ll review current local quotes together.

Practical planning rule: budget ~1%–4% of home value per year for maintenance (age/condition matters) [10].

Always call your title/settlement team at a known number to verify wire instructions; beware last-minute email changes [2][5].

• EMD (Earnest Money Deposit): Good-faith deposit credited to you at closing.
• Contingency: Safety clause (e.g., inspection, financing) allowing cancellation or renegotiation if unmet.
• Closing Disclosure (CD): Final loan terms and costs—delivered ≥ 3 business days before closing [7][8].
• PMI: Mortgage insurance required on certain loans when down payment is under 20% (varies by loan).