Top 10 Most Expensive States For Closing Costs : The Real Estate Bloggers

Top 10 Most Expensive States For Closing Costs

August 14th, 2006 • Related • Filed Under

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BankRate.com has issued it’s yearly study of mortgage costs and New York is leading the pack as the most expensive state in the country when it comes to Closing Costs. New York was over $1,150 dollars more expensive to close a $200,000 home than Missouri which had the least expensive closing costs in the country.

  1. New York $3,887
  2. Texas  $3,578 
  3. Hawaii $3,407 
  4. Ohio $3,354 
  5. Florida $3,349 
  6. Connecticut  $3,284 
  7. Alaska  $3,265 
  8. New Mexico $3,239 
  9. Kentucky  $3,206 
  10. Alabama $3,189  via Bankrate.com

Methodology: For this year’s annual closing costs survey, Bankrate.com obtained eight to 10 good faith estimates in each state from the Web sites of online lenders. Researchers picked a ZIP code in the biggest city in each state (with one exception) and requested information on the closing costs for a $200,000 loan there. They requested fees on a 30-year, fixed-rate mortgage for a borrower with a 20-percent down payment and good credit to buy a single-family house.

 

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