New York, Texas have Highest Closing Costs – Florida Ranks 12th
Bankrate.com survey shows that the cost of closing a mortgage has gone up in most states.
Palm Coast, FL – July 20, 2011 – Bankrate.com’s 2011 Closing Cost Survey ranks closing costs in all 50 states and the District of Columbia. Nationally, the average of fees charged to close a $200,000 purchase mortgage is $4,070. New York heads the list with average fees of $6,183. Texas, Utah, San Francisco and Idaho round out the five most expensive areas. Arkansas is the least expensive area, with an average fee of $3,378. Florida ranks 12th nationally, with combined origination, title, and closing costs of $4,418.
Researchers requested good faith estimates based on a $250,000 purchase with good credit and a 20% down payment. It does not include estimates for taxes, escrow or governmental fees such as doc stamps.
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