Jul 26, 2011
Virginia closing costs: lower than most
26 Jul 2011
Posted by Andrew Kantor
According to BankRate.com, Virginia ranks 15th in the U.S. (out of 52) when it comes to closing costs — ours are lower than most states’. In 2010 we were among the most expensive, ranking 34th.
In 2011, Virginians pay an average of $1,450 in origination fees and $2,295 in title and closing costs — a total of $3,745. (Full breakdown here.) In contrast,
Arkansasians Arkansasers people in Arkansas pay the least: an average total of $3,378. Or head up to New York, the most expensive state by a wide margin. Total closing costs there average $6,183.
Major caveat, though: “Researchers requested a good faith estimate for a $200,000 loan, assuming a 20 percent down payment and good credit.”