PHOENIX — Here’s some good news for Arizona homebuyers.
A new Bankrate.com survey ranked the state as the eighth lowest in the country when it comes to closing costs.
Overall, closing costs rose about two percent in Arizona last year and nearly 6 percent nationwide.
“Nationally, a homebuyer getting a $200,000 loan today would pay an average of about $2,539 to close on the loan,” said Polyana Da Costa with Bankrate.com.
She said that stiff competition among mortgage companies is keeping costs lower in the state.
“Lenders will charge what the market bears,” said Da Costa. “If there is a lot of competition in one market, they have to be more competitive with their pricing.”
The survey says Texas has the highest closing costs in the nation, with an average of $3,046 for a $200,000 loan. Alaska, New York, Hawaii and Wisconsin round out the top five.
The cheapest closing costs in the country are in Nevada, with an average of $2,265. The rest of the bottom five are Tennessee, Missouri, Ohio and Washington, D.C.
- 6 energy saving hacks for your home
- 5 tips for choosing a company to end your timeshare
- Water tips to save money, help save the Earth
- 5 of the most adored gentlemen in professional sports today
- The real danger of sitting at your desk
- Most surprising NBA playoff performances of the last 40 years
- 11 classic baseball movies you must see again
- Finally getting rid of fat: 3 methods that actually work
- 4 reasons cancer survivors should focus on food
- 5 spring cleaning spots everyone forgets
- 5 reasons to look forward to watching the D-backs this season
- Common virus attributed to spike in head and neck cancers
- 5 signs it’s time to end your timeshare ownership
- 3 most overlooked ways to keep your home healthy
- 6 ways the air in your home could be making you sick
- CrossFit dangers: 5 common injuries and how to deal with them
- Today's radiation treatments offer better success, fewer side effects
- Tips to make watching TV on the patio even better
- What really happens when you donate to a community college?
- Sun and skin cancer: Separating fact from fiction
- 5 critical lifestyle changes for a healthy colon
- What you need to know about Alzheimer's disease in Arizona
- Spring clean your windows like a pro with these 8 tips
- 7 films that should have won best-picture Oscars
- New plumbing technology saves money and improves your home
- Survey shows Arizona CFOs optimistic about 2016
- How chronic pain can affect your love life
- 5 potential warning signs about your child's development