July 18, 2011
Mass. Closing Costs 15th Highest
Closing costs for a home in Massachusetts are the 15th highest in the nation, according to a new report by Bankrate Inc.
Closing costs for a $200,000 house bought with 20 percent down by a buyer with good credit average $4,244 in the state, compared with the national average of $4,070.
The Massachusetts costs break down to $1,593 for mortgage origination and $2,650 for title and closing.
Massachusetts tied with Nevada for 15th place. By far, the most expensive state is New York, at $6,183. The cheapest state is Arkansas at $3,378.
Nationwide, closing costs are 8.8 percent higher than they were last year.
WBJ Web Partners
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