Margo, thank you for your question and the opportunity to respond. Closing cost in many cases are directly tied to the loan program selected by a buyer. In the state of Virginia there are essential four different loan programs that work well in this price range along with potential down payment and closing cost assistance programs â€“ please call me to ask about those (757) 652-5851. The most popular programs in the state of Virginia are VHDA Conventional 30 YR FIXED, VHDA VA, VHDA FHA Standard, and the VHDA FHA PLUS.
I have worked up on of the most popular closing cost work sheets using the VHDA FHA PLUS with the following assumptions and conditions to give you an idea. Minimum representative credit score of 680, Sales Price as you ask about of $130,000.00, Estimated City Assessment of $150,400.00, Property located in the City of Virginia Beach, Virginia - resulting in a property tax rate of $0.95, 3.500% second mortgage secured through the VHDA FHA PLUS, Earnest Money Deposit of $500.00 and Seller Concessions of $5,000.00.
Please also accept my invitation to attend a FREE 6 hour First Time Home Buyer Education Class on 2-23-2013 from 9:00 AM to 3:00 PM in Virginia Beach, Virginia. The location of the class is the Training Room at http://www.BeachFord.com
2717 Virginia Beach Boulevard, Virginia Beach, Virginia 23452. If you want to attend and bring a friend or friends I only ask that you let me register in advance at (757) 652-5851 so that I will have enough FREE VHDA first time homebuyer handbooks for all participants.