Report: New Hampshire’s closing costs 19th-lowest in nation

Bankrate.com survey pegs Granite State average at $2,059

New Hampshire has the 19th-lowest closing costs in the country, according to a new Bankrate.com report.

According to the report closing costs average $2,059 on a $200,000 loan in New Hampshire ($1,046 origination, plus $1,013 third-party). That’s slightly below the national average of $2,128.

“Thanks to the new and improved mortgage disclosures that the Consumer Financial Protection Bureau introduced last October, closing cost estimates have become more accurate because they mandate that lenders include all costs ahead of time,” said Holden Lewis, Bankrate’s senior mortgage analyst. “This is great for consumers who can now comparison shop with more confidence.”

To obtain the numbers, Bankrate surveyed up to 10 lenders in all 50 states and Washington, D.C. in June 2016. Researchers obtained online loan estimates for a $200,000 mortgage to buy a single-family home with a 20 percent down payment. Costs include fees charged by lenders, as well as third-party fees for services such as appraisals. The survey excludes discount points, taxes, title fees, property insurance, association fees, interest and other prepaid items.

According to the report, Hawaii has the highest mortgage closing costs in the country ($2,655) and Pennsylvania the lowest ($1,937).

New York has the second-highest closing costs ($2,560), followed by North Carolina ($2,409), Delaware ($2,358), South Carolina ($2,322), and Connecticut ($2,313).

Aside from Pennsylvania, Wisconsin also has low closing costs ($1,863), as well as Kentucky ($1,874), South Dakota ($1,904), Oklahoma ($1,911), and Missouri ($1,926).