When buying or selling a home participants always get nervous that they are going to be taken advantage of with mystery fees or excessive closing costs. The costs associated with a transaction of this magnitude are not to be trifled with.
So the annual survey by Bankrate.com of the costs to close a $200,000 loan is a benefit for the consumer. From the cheapest (North Carolina, $2,650) to the most expensive (New York, $4,016) these costs vary greatly.
It need not be said, so I must say it, that every closing is different so do not expect to see these exact numbers when you sit down at the closing table. But they do provide a useful barometer on pricing.
Top 10 Most Expensive States For Closing Costs
- New York: $4,016
- Texas: $3,975
- Florida: $3,683
- Oklahoma: $3,558
- New Mexico: $3,465
- New Jersey: $3,432
- Pennsylvania: $3,411
- Alaska: $3,409
- Colorado: $3,358
- California: $3,321
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