The latest findings come from Bankrate.com’s survey of average closing costs by state. (Note: The survey excludes discount points, taxes, title fees, property insurance, association fees, interest, and other prepaid items in its calculations.)
“Thanks to the new and improved mortgage disclosures that the Consumer Financial Protection Bureau introduced last October, closing cost estimates have become more accurate because they mandate that lenders include all costs ahead of time,” says Holden Lewis, Bankrate.com’s senior mortgage analyst. “This is great for consumers who can now comparison shop with more confidence.”
View a full breakdown of all states and Washington, D.C., to find the average home buyers pay in closing costs.