Homebuyers know and stats show that closing costs you a ton in New York
State is No. 1 in closing expenses for a third year in a row, Bankrate surveys
BY PHYLLIS FURMAN / NEW YORK DAILY NEWS
PUBLISHED: MONDAY, AUGUST 6, 2012, 11:42 PM
HERE’S ONE more reason why it’s so ridiculously expensive to live in New York: We have the highest mortgage closing costs in the country.
For the third year in a row, New York State leads the way in fees associated with getting a home loan, according to a new survey from Bankrate.com.
The average closing cost here is a whopping $5,435 for a $200,000 mortgage on a single-family home purchased with a 20% down payment.
Compare that with Missouri, the state with the lowest closing costs, where they pay an average of $3,006. The national average is $3,754. Continue reading