mortgage

2012 Closing costs: States ranked

Closing Costs » Results

The table below ranks states by average closing costs, from most expensive to least expensive. Your final charges probably will be higher than shown here because the most highly variable costs are not included: taxes, other government fees and escrow fees.

Bankrate requested good faith estimates for a $200,000 mortgage loan from up to 10 lenders in each state, plus Washington, D.C. The hypothetical loan was for a purchase of a single-family house in the state's largest city, using a 20 percent down payment, with excellent credit. An asterisk denotes a tie in the rankings.

States ranked by closing costs

2012 rank2011 rankStateOriginationTitle and closing2012 Total
11New York$1,813$3,622$5,435
22Texas$1,701$2,918$4,619
39Pennsylvania$1,717$2,751$4,467
412Florida$1,623$2,772$4,395
5*7Oklahoma$1,604$2,748$4,352
610Hawaii$1,769$2,500$4,269
7*7New Jersey$1,568$2,507$4,075
820Louisiana$1,626$2,420$4,046
9*15Massachusetts$1,607$2,377$3,984
1011District of Columbia$1,633$2,319$3,952
1118Ohio$1,615$2,318$3,933
1237West Virginia$1,602$2,283$3,885
1323Wisconsin$1,713$2,157$3,870
146California$1,556$2,299$3,854
1513Alaska$1,571$2,281$3,852
*16*26Delaware$1,614$2,236$3,850
*1619Arizona$1,581$2,269$3,850
18*26Illinois$1,699$2,116$3,815
1936Georgia$1,6772,134$3,811
2022Wyoming$1,470$2,303$3,773
2128Michigan$1,596$2,169$3,764
2235Tennessee$1,587$2,160$3,747
*233Utah$1,542$2,182$3,724
*235Idaho$1,471$2,253$3,724
2525Nebraska$1,643$2,070$3,713
2632Connecticut$1,603$2,099$3,702
2741Rhode Island$1,646$2,040$3,686
2831South Carolina$1,654$2,027$3,681
2938Virginia$1,602$2,046$3,648
3014New Mexico$1,480$2,137$3,617
3134Mississippi$1,540$2,072$3,612
3245Kentucky$1,654$1,957$3,611
3346New Hampshire$1,635$1,957$3,591
3444Montana$1,579$2,004$3,583
3542Maryland$1,585$1,997$3,582
3621North Dakota$1,643$1,931$3,574
3717Minnesota$1,624$1,935$3,559
3839Vermont$1,513$2,039$3,551
3951North Carolina$1,642$1,894$3,536
4043South Dakota$1,540$1,994$3,534
4124Oregon$1,480$2,029$3,509
4248Alabama$1,556$1,951$3,507
4340Maine$1,551$1,906$3,458
4433Washington$1,535$1,883$3,418
45*15Nevada$1,352$2,062$3,414
4650Indiana$1,575$1,787$3,362
4752Arkansas$1,575$1,750$3,325
4849Iowa$1,547$1,710$3,257
4930Colorado$1,512$1,687$3,199
5029Kansas$1,586$1,607$3,193
5147Missouri$1,553$1,453$3,006
      
  Average$1,595$2,159$3,754
  Median$1,596$2,099$3,702
  Standard deviation$79$359$402
      
  Average $ difference 2011-12-$17-$284-$301
  Average % difference 2011-12-1.05%-11.61%-7.41

*denotes a tie

Bankrate.com surveyed up to 10 lenders in each state in June 2012 and obtained online good faith estimates for a $200,000 mortgage to buy a single-family home with a 20 percent down payment in the state's largest city. Costs include fees charged by lenders, as well as third-party fees for services such as appraisals and title insurance. The survey excludes taxes, property insurance, association fees, interest and other prepaid items.

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