How does Washington State compare when it comes to closing cost, nationally? Bankrate.com came up with a survey showing what it cost to obtain a loan in 2012. The survey is broken down by State, and the following criteria was used to determine the results.
Loan Criteria:
- Loan Amount of $200,000
- Down Payment: 20%
- Excellent Credit
- Purchase of Single Family Home
Break down of the top States with HIGHEST closing costs in 2012
State Origination Cost Title & Escrow Cost Total Cost
- New York $1,813 $3,622 $5,435
- Texas $1,701 $2,918 $4,619
- Pennsylvania $1,717 $2,751 $4,467
- Florida $1,623 $2,772 $4,395
- Oklahoma $1,604 $2,748 $4,352
WA State # 44 $1,535 $1,883 $3,418
National Average $1,595 $2,159 $3,754
Break down of the States with LOWEST closing cost in 2012
State Origination Cost Title & Escrow Cost Total Cost
- Missouri $1,553 $1,453 $3,006
- Texas $1,586 $1,607 $3,193
- Pennsylvania $1,512 $1,687 $3,199
- Florida $1,547 $1,710 $3,257
- Oklahoma $1,575 $1,750 $3,325
WA State # 44 $1,535 $1,883 $3,418
National Average $1,595 $2,159 $3,754
If you're considering a mortgage loan or doing a refinance, and need a trusted source for mortgage lending, we can help. We can direct you to top quality professionals FREE of charge.
Comments(2)