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: title insurance, title search, 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.
Closing costs |
|||||
|---|---|---|---|---|---|
| 2013 rank |
2012 rank† | State | Lender’s origination fees |
Third-party fees |
Origination plus third-party fees |
| 1 | 2 | Hawaii | $1,970 | $949 | $2,919 |
| 2 | 4 | Alaska | $1,925 | $750 | $2,675 |
| 3 | 6 | South Carolina | $1,935 | $723 | $2,658 |
| 4 | 35 | California | $1,977 | $662 | $2,639 |
| 5 | 43 | New Mexico | $1,807 | $760 | $2,566 |
| 6 | 8 | North Carolina | $1,840 | $718 | $2,558 |
| 7 | 18 | New Jersey | $1,804 | $741 | $2,545 |
| 8 | 34 | Oklahoma | $1,919 | $600 | $2,519 |
| 9 | 20 | Florida | $1,798 | $719 | $2,517 |
| 10 | 7 | Delaware | $1,742 | $760 | $2,502 |
| 11 | 27 | Ohio | $1,803 | $693 | $2,496 |
| 12 | 11 | Georgia | $1,816 | $674 | $2,490 |
| 13 | 3 | Texas | $1,690 | $778 | $2,468 |
| 14* | 26 | Pennsylvania | $1,920 | $540 | $2,460 |
| 14* | 13 | North Dakota | $1,797 | $663 | $2,460 |
| 16 | 24 | District of Columbia | $1,826 | $623 | $2,449 |
| 17 | 22 | Montana | $1,767 | $680 | $2,446 |
| 18 | 19 | Louisiana | $1,782 | $662 | $2,443 |
| 19 | 33 | Maryland | $1,816 | $624 | $2,441 |
| 20 | 31 | Tennessee | $1,806 | $631 | $2,437 |
| 21 | 21 | Connecticut | $1,757 | $680 | $2,436 |
| 22 | 36 | Maine | $1,761 | $647 | $2,408 |
| 23 | 49 | Idaho | $1,767 | $641 | $2,407 |
| 24 | 38 | Iowa | $1,757 | $647 | $2,403 |
| 25 | 41 | Arkansas | $1,782 | $614 | $2,396 |
| 26 | 28 | Indiana | $1,732 | $656 | $2,387 |
| 27 | 48 | Colorado | $1,758 | $625 | $2,383 |
| 28 | 17 | Kentucky | $1,732 | $649 | $2,381 |
| 29 | 37 | Arizona | $1,752 | $621 | $2,372 |
| 30 | 46 | Oregon | $1,707 | $663 | $2,370 |
| 31 | 23 | Virginia | $1,718 | $650 | $2,369 |
| 32 | 44 | South Dakota | $1,732 | $617 | $2,349 |
| 33 | 39 | Alabama | $1,721 | $627 | $2,348 |
| 34 | 15 | Rhode Island | $1,686 | $660 | $2,347 |
| 35 | 51 | Nevada | $1,642 | $704 | $2,346 |
| 36 | 10 | Nebraska | $1,656 | $689 | $2,345 |
| 37 | 1 | New York | $1,504 | $827 | $2,331 |
| 38 | 40 | Mississippi | $1,682 | $639 | $2,320 |
| 39 | 45 | Utah | $1,663 | $653 | $2,316 |
| 40 | 50 | Wyoming | $1,678 | $623 | $2,301 |
| 41 | 14 | Massachusetts | $1,601 | $699 | $2,300 |
| 42 | 16 | West Virginia | $1,578 | $705 | $2,283 |
| 43 | 29 | Minnesota | $1,641 | $612 | $2,253 |
| 44 | 12 | New Hampshire | $1,576 | $676 | $2,252 |
| 45 | 42 | Vermont | $1,578 | $667 | $2,245 |
| 46 | 9 | Illinois | $1,591 | $647 | $2,238 |
| 47 | 47 | Washington | $1,603 | $605 | $2,208 |
| 48 | 32 | Michigan | $1,591 | $611 | $2,203 |
| 49 | 30 | Kansas | $1,558 | $635 | $2,193 |
| 50 | 25 | Missouri | $1,542 | $646 | $2,188 |
| 51 | 5 | Wisconsin | $1,438 | $682 | $2,119 |
| Average | $1,730 | $672 | $2,402 | ||
*Denotes a tie
†The original 2012 closing costs survey ranked the states differently, because the survey included title insurance. The 2013 survey does not include title insurance. To offer an apples-to-apples comparison, closing costs for 2012 were recalculated without title insurance, and states were re-ranked.
Bankrate.com surveyed up to 10 lenders in each state in June 2013 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 credit reports. The survey excludes title insurance, title search, taxes, property insurance, association fees, interest and other prepaid items.
The Law Office of Beth Mann, P.C. 