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Sep 02, 2009 -- Closing costs reach national average of $2,730

The disparity in closing costs around the nation really proves that all real estate is local.

A new BankRate.com survey shows that $2,730 is the national average. But a state like Nevada can be as little as $2,236, while the average in Texas is a whopping $3,855.

You should know what is typical in your state. And if you have an upcoming closing, don't worry about what any one line item fee amounts to. You want to instead concentrate on the total dollar amount of fees.

And what about no closing cost refinances? Clark has long been a fan of these, but they're getting harder to find and the spread on the rates is higher.

If you plan to stay put in a house, it's often smarter to take a lower interest rate and just pay the closing costs upfront. If you can make it up in 30 months, you're better off opening your wallet at the closing table.

Unfortunately, Clark won't be able to answer any questions submitted via commenting. If you have a question, please try posting it to our message boards.

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What others are saying

  • CA Closing Costs
    Our closing costs on $228000 are looking like $6600. This is in the central valley where the average cost for a home is significantly less than S.F. where the survey got the closing cost average from.
    By SPDCA @ 10/30/09 10:26:11 AMreport abuse
  • Atlanta is too high for closing costs
    I have quotes from three lenders for a house for roughly $165000; all quoted closing costs between $4000 and $4600. Makes Texas seem like more of a bargain.
    By Mo @ 10/01/09 05:19:11 PMreport abuse
  • Closing cost
    What does the closing cost cover? I pay survey fee,land transfer tax, lawyer fee,real estate lady 6%, prepay taxes, insurance,down payment, HUD or FHA, fee,loan origination fee,inspection fee, prepaid points, and they want CLOSING COST. What gives?
    By Old man @ 09/08/09 01:49:33 PMreport abuse
  • Closing Costs
    Union Savings Bank (Ohio) has very low closing costs (I think it's $250). I think it's even cheaper to refinance with them. Worth checking for comparision purposes. They don't spend a lot of money on advertising. We found out about them via friends.
    By Dan @ 09/08/09 11:27:16 AMreport abuse
  • Alaska Closing Costs
    Wells Fargo notified me that I could refinance my current balance with no closing costs. WF did a quick review and will simply assign my mortgage a new loan number and transfer all reserves, etc. I'll save $75 a month and it took me only 10 minutes over the phone. No appraisal or anything Again, no cost to me. I have no idea why they are doing this in Alaska. I've never heard of such a program but it's great. I have 70% equity and a small balance so don't know why they'd bother.
    By John Webster @ 09/08/09 10:22:02 AMreport abuse
  • SC Closing Cost
    I will be closing on a home in the Myrtle Beach area of South Carolina in the next few weeks and our closing cost are going to be right at $6,000.00.
    By Brian @ 09/06/09 11:17:43 AMreport abuse
  • Orlando Closing Cost
    The minimum amount in closing costs I have found after shopping around for a mortgage in Orlando is $5,500.00 for a $180,000.00 home.
    By Carlos @ 09/04/09 09:22:17 AMreport abuse
  • Calif closing costs
    I was told closing costs could be around $10,000+ when I saw a lender to see what I would qualify for in purchasing a home.
    By Berdy @ 09/04/09 02:49:22 AMreport abuse
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