Missouri Real Estate has the lowest closing costs

We know that Missouri has very low taxes, but did you know it also has the lowest closing costs in the nation?

For the second year in a row, New York is the state with the highest mortgage-related fees in Bankrate.com’s annual closing costs comparison survey.

New York’s high title and settlement costs lifted the state well above No. 2 Texas. The Lone Star State was followed in the top five by Hawaii, Ohio and Florida.

Home buyers in Missouri pay the lowest closing costs, according to this year’s study. The Show Me State was followed by Michigan, New Hampshire and Montana. Wyoming, which was last year’s lowest-cost state, was fifth-lowest this year.

The difference between New York and Missouri was $1,174 in this year’s survey.  That’s a hefty sum to first-time buyers who typically scrimp to save for a down payment and closing costs.

You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.