Most and Least Expensive States for Mortgage and Real Estate Closing Costs

Binoculars on top of moneyFocusing on the largest city of each state plus Washington D.C., Bankrate recently completed a nationwide survey to determine the most and least expensive states for mortgage closing costs. Closing costs refer to any fees associated with the sale of a home including but not limited to title insurance, loan origination fees, appraisal fees and home warranties.

Take a look at the average rates of closing costs in the most and least expensive states.

Most Expensive:

Florida
Bank origination fees: $1,623
Third-party fees, appraisals and title insurance: $2,772
Closing costs: $4,395

Pennsylvania
Bank origination fees: $1,717
Third-party fees, appraisals and title insurance: $2,751
Closing costs: $4,467

Texas
Bank origination fees: $1,701
Third-party fees, appraisals and title insurance: $2,918
Closing costs: $4,619

New York
Bank origination fees: $1,183
Third-party fees, appraisals and title insurance: $3,622
Closing costs: $5,435

Least Expensive:

Arkansas
Bank origination fees: $1,575
Third-party fees, appraisals and title insurance: $1,750
Closing costs: $3,325

Iowa
Bank origination fees: $1,547
Third-party fees, appraisals and title insurance: $1,710
Closing costs: $3,257

Colorado
Bank origination fees: $1,512
Third-party fees, appraisals and title insurance: $1,687
Closing costs: $3,199

Kansas
Bank origination fees: $1,586
Third-party fees, appraisals and title insurance: $1,607
Closing costs: $3,193

Missouri
Bank origination fees: $1,553
Third-party fees, appraisals and title insurance: $1,453
Closing costs: $3,006

Source: http://www.bankrate.com/finance/mortgages/2012-closing-costs/united-states.aspx

Numbers are subject to change. Different companies charge different fees. Contact your lender and closing attorney for accurate information for your situation.

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