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ClosingCorp Reports Average Mortgage Closing Cost Data


SAN DIEGO--(BUSINESS WIRE)--ClosingCorp, a leading provider of residential real estate closing cost data and technology ... North Carolina ($3,206), Iowa ($3,138), South Dakota ($2,996), Indiana ($2,934), and Missouri ($2,905). “Closing costs can vary ...


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NE   $187,819   $3,270 NH   $258,762   $5,202 NJ   $304,952   $4,547 NM   $222,918   $3,894 NV   $306,410   $4,639 NY   $359,525   $9,341 OH   $160,172   $3,369 OK   $164,645   $3,581 OR   $331,379   $4,495 PA   $189,724   $6,633 RI   $251,960   $3,735 SC   $206,384   $3,495 SD   $202,500   $2,996 TN   $202,731   $4,361 TX   $224,233   $4,126 UT   $281,258   $4,538 VA   $324,563   $5,575 VT   $228,892   $6,839 WA   $369,213   $5,954 WI   $189,315   $3,804 WV   $153,469   $3,492 WY   $247,584   $3,725       CBSAs with the Highest Average Closing Costs   CBSA   Average PurchasePrice   Average TotalClosing Costs New York-Newark-Jersey City, NY-NJ-PA   $418,833   $9,046 San Francisco-Oakland-Hayward, CA   $779,526   $8,907 Dover, DE   $216,700   $8,147 Washington-Arlington-Alexandria, DC-VA-MD-WV   $470,309   $8,065 Reading, PA   $164,000   $7,863       CBSAs with the Lowest Average Closing Costs   CBSA   Average PurchasePrice   Average TotalClosing Costs Muncie, IN   $104,900   $2,785 Marion, IN   $84,250   $2,813 Kokomo, IN   $119,750   $2,831 Indianapolis-Carmel-Anderson, IN   $169,215   $2,878 Jefferson City, MO   $136,122   $2,903     Counties with the Highest Average Closing Costs   County   Average PurchasePrice   Average TotalClosing Costs District of Columbia, DC   $625,000   $12,573 Kings, NY   $570,000   $13,388 Queens, NY   $540,000   $12,476 Bronx, NY   $479,000   $11,549 Richmond, MY   $500,000   $11,414 Pitkin, CO   $650,411   $9,702 Sussex, DE   $309,900   $9,462 Westchester, NY   $495,000   $10,747 Suffolk, NY   $352,500   $11,289 Montgomery, MD   $485,000   $9,384   Data by closing cost category and for additional CBSAs and counties available upon request. Methodology ClosingCorp median fees are derived by running preconfigured loan scenarios against the verified rates and fees data it maintains for service providers and tax authorities with coverage in every county nationwideThe preconfigured loan scenarios are based on different loan types, loan purposes and loan amounts in $25,000 increments up to $100,000 then $100,000 increments up to $20,000,000The results of running the preconfigured loan scenarios and application of the endorsement rules generates the median fees for every countyThe results at the county level are rolled up to the CBSA level using number of housing units per county to create a weighted averageAssuming 80% LTV, ClosingCorp uses the median sales price for a given period for each CBSA and applies the fee calculation formulas to derive the median fees by CBSAThe median fees are for the following services: Title, Settlement, AMC, Home Inspection, Pest Inspection, Land Survey, Recording Fees and Transfer taxesThese are third party services and government fees required to fund a home loan. About ClosingCorp Headquartered in San Diego, Calif., ClosingCorp owns and operates the premier source of intelligence for closing costs and service providers in the U.Sresidential real estate industryThrough innovative solutions, progressive technologies and strong alliances, the company delivers timely, accurate and transparent results that help optimize closing processes and services for mortgage lenders, title and settlement companies and real estate professionalsClients rely on ClosingCorp to help improve efficiencies and mitigate riskFor more information, please visit www.closing.com. Contacts Campbell Lewis CommunicationsBill Campbell, 212.995.8057bill@campbelllewis.comorClosingCorpCarol Crawford, 858.352.7434ccrawford@closing.com // Add toggle of sharing section var internalToggle = new BWToggle("bw-release-internal", "#bw-release-internal h2", "#bw-internal-content"); internalToggle.set(false); var addthis_share = { url: "http://www.businesswire.com/news/home/20171024005845/en/ClosingCorp-Reports-Average-Mortgage-Closing-Cost-Data", title: "ClosingCorp Reports Average Mortgage Closing Cost Data | Business Wire" }; var addthis_config = { 'image_include': 'bw-pin-include', 'data_track_addressbar': false, 'data_track_clickback':true }; addthis_config.services_exclude='sinaweibo,pinterest_share'; Contacts Campbell Lewis CommunicationsBill Campbell, 212.995.8057bill@campbelllewis.comorClosingCorpCarol Crawford, 858.352.7434ccrawford@closing.com //$(document).ready(function(){ jQuery(function($) { //Resize carousel items to show 4 images var carousel = $("#carouselList"); 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