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SMALL BUSINESS
2007 Closing Costs
Previous-
Before Paying Those Closing Costs ...
Whether you're a buyer or a seller, the price of closing a home sale affects your bottom line.
Bankrate's 2007 survey reveals that final closing costs depend not only on the amount of the mortgage loan but also where the home sale takes place.
Closing costs vary from state to state, but by how much?
Next: Where Costs Are Highest -
Highest Closing Costs
No. 1: New York
Average closing cost on $200K mortgage:
NEW YORK
Origination
$1,637.43
Title
$2,193.06
Total Avg.
$3,830.49
NATIONAL
Origination
$1,294.04
Title
$1,442.176
Total Avg.
$2,736.21 -
Highest Closing Costs
No. 2: Texas
Average closing cost on $200K mortgage:
TEXAS
Origination
$1,370.88
Title
$2,042.60
Total Avg.
$3,413.47
NATIONAL
Origination
$1,294.04
Title
$1,442.176
Total Avg.
$2,736.21Related Content:
-
Highest Closing Costs
No. 3: Florida
Average closing cost on $200K mortgage:
FLORIDA
Origination
$1,275.22
Title
$1,899.45
Total Avg.
$3,174.67
NATIONAL
Origination
$1,294.04
Title
$1,442.176
Total Avg.
$2,736.21 -
AP
Highest Closing Costs
No. 4: Pennsylvania
Average closing cost on $200K mortgage:
PENN.
Origination
$1,298.22
Title
$1,870.41
Total Avg.
$3,168.63
NATIONAL
Origination
$1,294.04
Title
$1,442.176
Total Avg.
$2,736.21 -
Highest Closing Costs
No. 5: Ohio
Average closing cost on $200K mortgage:
OHIO
Origination
$1,342.11
Title
$1,704.44
Total Avg.
$3,046.55
NATIONAL
Origination
$1,294.04
Title
$1,442.176
Total Avg.
$2,736.21
Next: Lowest Closing Costs -
Lowest Closing Costs
No. 1: Indiana
Average closing cost on $200k mortgage:
INDIANA
Origination
$1,202.33
Title
$1,137.06
Total Avg.
$2,339.39
NATIONAL
Origination
$1,294.04
Title
$1,442.176
Total Avg.
$2,736.21 -
Lowest Closing Costs
No. 2: Wyoming
Average closing cost on $200K mortgage:
WYOMING
Origination
$1,305.33
Title
$1,084.45
Total Avg.
$2,389.78
NATIONAL
Origination
$1,294.04
Title
$1,442.176
Total Avg.
$2,736.21 -
Lowest Closing Costs
No. 3: Illinois
Average closing cost on $200K mortgage:
ILLINOIS
Origination
$1,290.44
Title
$1,110.22
Total Avg.
$2,400.67
NATIONAL
Origination
$1,294.04
Title
$1,442.176
Total Avg.
$2,736.21 -
Lowest Closing Costs
No. 4: Nevada
Average closing cost on $200K mortgage:
NEVADA
Origination
$1,310.44
Title
$1,156.74
Total Avg.
$2,467.19
NATIONAL
Origination
$1,294.04
Title
$1,442.176
Total Avg.
$2,736.21 -
Lowest Closing Costs
No. 5: North Carolina
Average closing cost on $200K mortgage:
N.C.
Origination
$1,298.00
Title
$1,189.43
Total Avg.
$2,487.43
NATIONAL
Origination
$1,294.04
Title
$1,442.176
Total Avg.
$2,736.21
Next: See All States -
Find Average Closing Costs in Your State
The average cost of a closing a home sale varies within states as well. For each sample cost, Bankrate.com lists both the city and state for derived costs. Also, these rankings do not inlcude taxes passed directly to consumers that are detailed on the HUD-1 statement.
Find Your State Closing Costs
Next: Why Costs Vary -
Why Fees Vary
Mortgage-related fees vary from place to place because of differing taxes, customs and regulations ... Title insurance is another budget buster, and New York and Texas have some of the country's most expensive title insurance ...
Full Story:
Why Closing Costs Vary
Next: 2007 Real Estate Forecast -
2007 Real Estate Forecast
Closing costs can seem minor if you've found a bargain. As a seller, covering part of these costs might not be enticing enough.
Find out the real estate forecast for your region. Should you buy or sell now ... or stay put for awhile.
Real Estate Forecast 2007
Next: Money and Finance Features -
Mortgages: The Basics
How familiar are you with the mortgage process? Mortgage terms? Mortgage fees and costs? Learn about them all here.
- Types of Mortgage Loans
- How Much House Can You Afford?
- Obtaining Preapproval for Mortgages
- Should You Rent or Buy a Home?
- Biweekly Mortgage Loans
- Improve the Value of Your Home
- More Money Basics