How does WA State compare when it comes to closing cost - nationally

By
Real Estate Agent with Judah Realty Group

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.

 

closing costs

 

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
 
  1. New York                 $1,813                            $3,622                          $5,435
  2. Texas                     $1,701                            $2,918                          $4,619
  3. Pennsylvania           $1,717                            $2,751                          $4,467
  4. Florida                    $1,623                            $2,772                          $4,395
  5. 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
 
  1. Missouri                  $1,553                            $1,453                          $3,006
  2. Texas                     $1,586                            $1,607                          $3,193
  3. Pennsylvania           $1,512                            $1,687                          $3,199
  4. Florida                    $1,547                            $1,710                          $3,257
  5. 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)

Courtney Cooper
Cooper | Cartwright - Seattle, WA
206-850-8841

Interesting post - I have always wondered about this - hope you have a great weekend!

Dec 06, 2012 03:30 AM
Freddy Delgadillo
Judah Realty Group - Bellevue, WA
Real Estate Broker specializing Greater Eastside

Courtney- I too have always wanted to know how Washington State compares to othe states when it comes to charges and fees when obtaining a mortgage loan. 

Enjouy your weekend too.

Dec 06, 2012 03:41 AM