BankRate.com has issued it’s yearly study of mortgage costs and Missouri is the least expensive state for Mortgage Closing Costs New York was over $1,150 dollars more expensive to close a $200,000 home than Missouri. So if you are buying in one of these states, congratulations, you have probably saved a bit of money compared to others states in Closing Costs.
- Missouri $2,713
- Michigan $2,714
- New Hampshire $2,734
- Montana $2,737
- Wyoming $2,772
- Washington, D.C. $2,772
- Arizona $2,784
- Kansas $2,787
- Indiana $2,793
- South Dakota $2,817 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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