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Virginia Closing Costs Are Lower Than Average

July 28th, 2011 by Lisa Oates · No Comments

The other day we reported that Virginia property taxes fare pretty well compared to the rest of the nation, and now we have more good news — Virginia closing costs are also on the low end of the scale!

Researchers for a new study requested a good faith estimate for a $200,000 loan, assuming a 20% down payment, and good credit. Based on the information they received, they compiled a chart that ranks each state by taking the origination fees plus title and closing to get the 2011 totals. Virginia falls at #38 (out of 52), with closing costs of $3,745. The national average is $4,070.

For those who might be curious, the highest closing costs are in New York at $6,183, and the lowest are in Arkansas at $3,378.

Low property taxes, low closing costs, development in the Harrisonburg area… lots of positives point to a healthy local economy!

Tags: Issues · Relocation


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