The average mortgage closing costs total $4,876 nationwide, but some per-loan totals tracked at the state or local level can be much lower, according to ClosingCorp.
Borrowers pay much less for expenses like title, appraisal, recording fees, inspection services, land surveys, and, in some cases, transfer taxes, in certain states. These states tend to have lower average home purchase prices. But in some cases, a state with a higher average purchase price than another can have lower median closing costs. The same holds true at the local level.
“Closing costs can vary significantly, depending on what state or county a homebuyer lives in,” said ClosingCorp CEO Bob Jennings in an October report on the geographic dispersion of average closing costs.