Buying a home comes with a number of expenses, one of them being closing costs. These costs are fees you pay to your mortgage lender for items like the home appraisal, title search and administrative costs to close on the loan.
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Some government-backed mortgages, such as loans through the Department of Veterans Affairs, have other charges that you can pay upfront or roll into your loan.
Typically, you can expect to pay anywhere from 3% to 6% of your mortgage in closing fees. So if your mortgage is for $450,000, then expect to shell out anywhere from $13,500 to $27,000.
The amount you’ll pay will depend on factors like the price of your home and where it’s located. For example, your state may have higher or lower transfer taxes compared to the rest of the country.
Research from ClosingCorp via Rocket Mortgage broke down how much you could pay Iin your state.
State | Average Transfer Taxes | Average Closing Costs |
Alabama | $363 | $2,623 |
Alaska | $0 | $3,581 |
Arizona | $0 | $4,701 |
Arkansas | $834 | $2,281 |
California | $2,288 | $5,665 |
Colorado | $75 | $3,806 |
Connecticut | $4,713 | $4,108 |
Delaware | $13,971 | $3,888 |
Florida | $4,056 | $4,498 |
Georgia | $899 | $2,863 |
Hawaii | $1,584 | $5,879 |
Idaho | $0 | $4,082 |
Illinois | $1,196 | $4,733 |
Indiana | $0 | $2,200 |
Iowa | $405 | $2,741 |
Kansas | $0 | $2,793 |
Kentucky | $256 | $2,546 |
Louisiana | $325 | $3,386 |
Maine | $1,556 | $2,864 |
Maryland | $10,262 | $4,459 |
Massachusetts | $3,060 | $4,904 |
Michigan | $2,203 | $3,511 |
Minnesota | $1,419 | $2,592 |
Mississippi | $0 | $2,756 |
Missouri | $0 | $2,061 |
Montana | $0 | $3,337 |
Nebraska | $571 | $2,210 |
Nevada | $2,161 | $4,222 |
New Hampshire | $5,379 | $2,804 |
New Jersey | $3,757 | $4,158 |
New Mexico | $0 | $3,513 |
New York | $10,681 | $6,168 |
North Carolina | $764 | $2,642 |
North Dakota | $0 | $2,501 |
Ohio | $877 | $3,346 |
Oklahoma | $386 | $2,507 |
Oregon | $465 | $3,862 |
Pennsylvania | $6,413 | $4,221 |
Rhode Island | $2,149 | $3,419 |
South Carolina | $946 | $2,501 |
South Dakota | $262 | $2,843 |
Tennessee | $1,217 | $2,694 |
Texas | $0 | $4,548 |
Utah | $0 | $4,837 |
Vermont | $4,406 | $3,500 |
Virginia | $2,885 | $3,461 |
Washington | $9,065 | $4,862 |
West Virginia | $941 | $6,502 |
Wisconsin | $767 | $2,465 |
Wyoming | $0 | $2,692 |
Washington DC | $23,386 | $2,589 |
How You Can Save on Closing Costs
You probably won’t be able to avoid paying closing costs completely, but you may be able to pay less.
One of the best ways you can do that is to shop different mortgage lenders to compare fees. You can ask what fees they charge and if possible, an estimate of the percentage of the loan amount. Comparing the APR of different lenders will also give you a more accurate insight into how much you could pay overall in interest and fees.
You may also be able to shop around third-party providers instead of the one the lender recommends. These include title services, according to the Consumer Financial Protection Bureau.
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This article originally appeared on GOBankingRates.com: Average Closing Costs for Homebuyers in Every US State
