2007 Closing Costs

1 of 14

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

Next: Next State

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.
$2,736.21

Next: Next State

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

Next: Next State

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

Next: Next State

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

Next: Next State

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

Next: Next State

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

Next: Next State

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

Next: Next State

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: 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

Our Most Popular Features

jupiterimages

Co-Workers From Hell
15 Companies Adding Stores
Urban Legends for 10 Hot Brands
Great Restaurant Deals

COMMENTS ( 0 )

Newest First

Threaded
Highest Rated
Oldest First
Newest First

GOT SOMETHING TO SAY?

YOU'LL BE ASKED TO REGISTER OR SIGN IN BEFORE POSTING A COMMENT.

Make a Comment

Comment

Can't see this image?

Skip nav

PERSONAL FINANCE

Bargains
Banking
- Checking Account
- Savings Account
Budget
Calculators
- Auto Loan Calculators
- Budgeting Calculators
- Credit Card Calculators
- College Planning Calculators
- Credit & Debt Calculators
- Mortgage Calculators
- Retirement Calculators
- Savings Calculators
College Finance
Community
Credit
- Credit Cards
- Credit Reports
Deals
Debt
Economizer
- Beat Debt
- Cut Costs
- Make More
- Get Deals
Food
Home
Fraud
- Identity Theft
Insurance
- Car Insurance
- Health Insurance
- Home Insurance
- Life Insurance
Interest Rates
Loans
- Auto Loans
- Home Equity Loans
- Personal Loans
- Student Loans
Mortgages
- Home Equity Loans
- Refinancing
Real Estate
Recalls
Recession
Retirement
- Advice
- 401K
- 403B
- IRA
Saving
Simplification
Specials
- Top 5
- Money Quizzes
- Smart Shopping With Consumer Reports
Taxes
- Tax Advice
- AMT
- Tax Basics
- Tax Credit
- Tax Deduction
- Tax Forms
- Online Tax Filling
Walletpop RSS Feeds