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Here’s how much average closing costs are in Georgia

by Chip Bell

closing-cost-mortgage-real-estate-trid-buyers-bankrate

Average closing costs in Georgia are among the highest in the nation, a new report from Bankrate confirmed.

The implementation of TRID, and its new closing disclosure form, has helped reduce confusion around what closing costs actually entail. But when agents are rounding out the closing process, some buyers can still be caught off guard by the additional costs – which regularly tally in the thousands of dollars.

In Georgia, Bankrate found that a buyer closing on a $200,000 mortgage loan, with an assumed 20 percent down payment and “excellent credit,” will face closing costs of $2,303 – $1,155 for origination fees and $1,148 for third party fees. Only six states have higher average closing costs.

To see how Georgia compares nationally, check out our table below.

Rank State Origination Fees Third-Party Fees Total
1 Hawaii $1,207 $1,448 $2,655
2 New York $1,103 $1,458 $2,560
3 North Carolina $1,142 $1,267 $2,409
4 Delaware $1,047.00 $1,311 $2,358
5 South Carolina $1,134 $1,187 $2,322
6 Connecticut $1,066 $1,248 $2,313
7 Georgia $1,155 $1,148 $2,303
8 Massachusetts $1,056 $1,216 $2,273
9 Alaska $1,048 $1,209 $2,257
10 California $1,144 $1,113 $2,257
11 Washington $1,059 $1,175 $2,234
12 New Mexico $1,078 $1,153 $2,231
13 Maryland $1,180 $1,049 $2,229
14 District of Columbia $1,183.00 $1,030 $2,213
15 Alabama $1,062 $1,127 $2,189
16 Maine $1,064 $1,121 $2,185
17 Florida $1,123 $1,057 $2,180
18 Vermont $1,075 $1,103 $2,178
19 Mississippi $1,132 $1,043 $2,175
20 Texas $1,032 $1,143 $2,175
21 West Virginia $1,017 $1,153 $2,171
22 New Jersey $937 $1,231 $2,168
23 Louisiana $1,034 $1,130 $2,164
24 Oregon $1,091 $1,065 $2,156
25 Virginia $1,069 $67 $2,136
26 Idaho $1,053 $1,055 $2,108
27 North Dakota $994 $1,114 $2,108
28 Iowa $1,013 $1,094 $2,107
29 Illinois $1,080 $1,000 $2,079
30 Rhode Island $1,069 $1,007 $2,076
31 Arizona $1,063 $1,009 $2,071
32 Tennessee $1,108 $959 $2,068
33 New Hampshire $1,046 $1,013 $2,059
34 Indiana $1,065 $992 $2,057
35 Montana $1,016 $1,026 $2,042
36 Ohio $1,045 $994 $2,039
37 Michigan $1,049 $989 $2,038
38 Minnesota $1,033 $997 $2,030
39 Nevada $943 $1,051 $1,994
40 Colorado $1,057 $933 $1,990
41 Wyoming $982 $1,007 $1,989
42 Kansas $1,002 $970 $1,972
43 Nebraska $1,009 $960 $1,969
44 Utah $1,082 $885 $1,967
45 Arkansas $1,005 $958 $1,963
46 Missouri $1,000 $926 $1,926
47 Oklahoma $985 $926 $1,911
48 South Dakota $1,019 $886 $1,904
49 Kentucky $932 $942 $1,874
50 Wisconsin $1,010 $853 $1,863
51 Pennsylvania $1,057 $780 $1,837
National $1,058 $1,070 $2,128

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