2nd-lowest closing costs: Tennessee
Average closing costs: $2,366
National average closing costs: $2,539
In Memphis, Tennessee, bank origination fees on a $200,000 mortgage averaged $1,746, and third-party fees, for things such as appraisals and credit reports, averaged $620. Combined, closing costs in Memphis averaged $2,366.
Source: Bankrate.com exclusive 2014 survey of closing costs