Real Estate

Top 5 states with highest and lowest closing costs

Four of top five most expensive in Northeast

High home prices are high in many areas in the Northeast, which is perhaps a reason why it also has some of the highest priced closing costs.

Driven by rising home prices, the Pending Home Sales Index in the Northeast decreased 5.3% to 93 in May, unchanged from last year, according to the National Association of Realtors.

Bankrate, a personal finance destination that provides consumers with advice and tools, surveyed up to 10 lenders in all 50 states and the District of Columbia in June. Researchers obtained online loan estimates for a $200,000 mortgage to buy a single-family home with a 20% down payment.

Based on that survey, here are the top five states with the most expensive closing costs, in the order of highest on down:

Hawaii: $2,655


New York: $2,560

New York night aerial

North Carolina: $2,409


Delaware: $2,358


(Photo credit: Nagel Photography/

South Carolina: $2,322


On the other hand, these were the states with the lowest closing costs, in order of lowest on up:

Pennsylvania: $1,837

state of pennsylvania

Wisconsin: $1,863


Kentucky: $1,874


South Dakota: $1,904


Oklahoma: $1,911


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