If you are planning on purchasing residential real estate in Cincinnati or Northern Kentucky, what can you expect to pay in closing costs? 

In a recent study, Bankrate.com surveyed 49 states and requested a good faith estimate for a $200,000 loan, assuming a 20% down payment and good credit.  Bankrate ranked the states from the most expensive closing costs to least expense, by average closing costs charged by the lending industry for a mortgage in each state.  Nationwide, the average origination and title fees totaled $2,739.  Where did Ohio and Kentucky Rate? 

2010
Rating

2009
Rating

State

Loan Origination

Title and Closing Costs

2010 Total

13

9

Ohio

$1,446

$2,540

$3,985

45

44

Kentucky

$1,488

$1,893

$3,341

Note:  these figures do not include Taxes, or other government fees and escrow fees.

2010 Closing Costs the Most and Least expensive

For more information about closing costs and what you can be expected to pay at a Cincinnati or Kentucky real estate closing, call us.  We work with several lenders in the area that can provide you with a good faith estimate so you can get a birds eye view of what you can afford.