Virginia Closing Costs Are Lower Than Average

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!

About Lisa Oates

Lisa is the creative mind behind The Harrisonburg Home Team, providing streamlined content management, quality authorship, and graphic design for Harrisonblog. She's passionate about blogging, enjoying life, and a good cup of coffee.

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