home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map

twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Mortgage Rate News | Mortgage Market Index | ARM indices | ARM Statistics
Average fixed and ARM rates. Rate forecasts. Quotes on ARM indexes including COFI, MTA, LIBOR & Treasuries. Rate reset studies and reports. Mortgage rate litigation.

States With Highest, Lowest Closing Costs

New York highest according to Bankrate.com

August 7, 2008

By MortgageDaily.com staff

The cost to close a mortgage loan varies by nearly $1,400 between the states with the highest and lowest closing costs, according to a new report.

Bankrate.com released its 2008 ranking of closing cost by state today.

The findings were based on closing-costs for a $200,000 loan obtained from at least four lenders in each state. A 20 percent down payment and good credit was assumed.

The states of California, Illinois and New York were broken into multiple markets because of a presumed disparity.

New York - New York City came in as the most expensive area to close a loan. Closing costs were found to be $4,015. Last year, when Bankrate.com did not separate the state into multiple regions, New York had the highest costs. This year, Buffalo ranked No. 3 at $3,845.

At $3,975, Texas ranked as the state with the second highest closing costs during 2008. Texas also ranked No. 2 last year.

No. 4 this year was Florida, which Bankrate.com said averaged $3,683 in closing costs. The Sunshine State was No. 3 last year, though that was the result of New York's split.

Oklahoma came in with the fifth highest closing costs, at $3,558. Oklahoma held a No. 8 ranking last year.

New Mexico, New Jersey, Pennsylvania, Alaska and Colorado ranked from No. 6 to No. 10 during 2008.

The state with the lowest closing costs was North Carolina, which averaged $2,650. Last year, North Carolina ranked No. 47.

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders