Georgia’s Home Closing Costs 12th Highest in Nation
Tuesday, August 6th, 2013
Mortgage closing costs rose six percent over the past year to $2,402, according to Bankrate.com (NYSE: RATE). Origination fees accounted for the bulk of the increase. They jumped eight percent to $1,730, while third-party fees edged up one percent to $672.
Hawaii's average closing costs of $2,919 are the highest in the nation. Alaska ($2,675), South Carolina ($2,658), California($2,639) and New Mexico ($2,566) join the Aloha State in the top five.
Wisconsin ($2,119), Missouri ($2,188), Kansas ($2,193), Michigan ($2,203) and Washington State ($2,208) comprise the bottom five.
"It's unlikely that you will move to Wisconsin solely to pay lower closing costs, but you should shop around and compare fees from different loan originators to make sure you get the best deal in your area," said Polyana da Costa, senior mortgage analyst, Bankrate.com.