Escrow & Title
In a Virginia purchase, the mortgage recordation tax applies to:
AThe purchase price of the property
BThe loan amount secured by the deed of trust✓ Correct
CThe buyer's down payment
DThe commission paid to the broker
Explanation
Virginia's mortgage recordation (deed of trust) tax is calculated based on the loan amount being secured. It is paid when the deed of trust is recorded in the circuit court clerk's office.
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