Although home prices have declined sharply at the national level, closing costs are only increasing. That's according to a recent Bankrate.com study, which found that average closing costs in 2008 increased 14 percent, to $3,118, from a year earlier.
Bankrate.com researchers gathered closing-cost information from at least four lenders in all 50 states and the District of Columbia. In California, Illinois and New York researchers also collected data from multiple markets where there was a presumed disparity.
Researchers requested a good faith estimate for a $200,000 loan, assuming a 20-percent down payment and good credit. Below, ranked from most expensive to least expensive, are the average closing costs charged by the lending industry for a mortgage in each state. Your costs will be higher than shown here because the most highly variable costs are not included: Taxes, other governmental fees and escrow fees. They vary almost infinitely, by locale and by which day of the month the closing occurs.
State 2008 closing
1 1 New York - NYC $4,015 2 2 Texas $3,975 3 N/A New York - Buffalo $3,845 4 3 Florida $3,683 5 8 Oklahoma $3,558 6 9 New Mexico $3,466 7 7 New Jersey $3,432 8 4 Pennsylvania $3,411 9 16 Alaska $3,408 10 24 Colorado $3,358
Check out the full list here.