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States with the Highest Closing Costs

Interesting factoid...

According to Bankrate.com, the states that charge the most in closing costs for a mortgage are as follows:

1) New York

2) Texas

3) Florida

4) Pennsylvania

5) Ohio

The states with the lowest fees in closing costs are Indiana, Wyoming, Illinois, Nevada, North Carolina.

The following article explains why states differ, including the fact NY has attorneys conduct their closings!

http://www.bankrate.com/brm/news/mortgages/2007/closing_costs_overview_1.asp

Aloha,

Pete

Posted by Pete Castillejos - Hawaii Mortgage Loan and Refinance on 07/13/2007 03:30 AM

Comments (7)

mortgage closing costs

7 Comments on States with the Highest Closing Costs

JUL

2007

Interesting... In Connecticut an attorney handles the closing also so I would have thought we ranked up near NY but the article didn't have a complete breakdown of all the states..

Hmmm very interesting. Maybe this is something that should be federally regulated so the states that charge too much will get corrected.

ny is prob the highest in the burroughs

nys ,mtg tax there is like 2% of the loan

while in other counties is only .8%

Dan - Yeah, I wish it showed all 50 states. We don't require an attorney in Hawaii, as long as it's notarized.

Linda - I agree, but I guess state taxes are involved and some states use attorneys?

Dominick - That's probably why it's higher closing costs. Thanks.

JUL

2007

Wonder where we rank?

JUL

2007

Sally - I wonder too...

Good information. I love factoids like this.

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States with the Highest Closing Costs

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