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.
- The virus that keeps head and neck cancers on the rise
- State Fair ‘Kid Reporter’ has all the angles covered
- 4 important things to know about timeshare maintenance fees
- Signs of delayed car crash injuries
- The truth about sports concussions
- The Alzheimer's epidemic: Facts you need to know
- The season is here, keep your Fantasy Football team strong all season
- 8 TV shows you can't miss this fall
- Football is here: 6 tips to make this your best season ever
- Gameday recipes and beers to match
- 6 reasons the Cardinals are driven to win the Super Bowl
- The Pac-12 football season nears kickoff
- Tips to get ready for a pain-free golf season
- Protect your family with these 7 home security features
- How to train like an Olympic swimmer
- 2016 Olympics: A guide to must-see TV events
- The bride's guide to feeling your best on your wedding day
- Deciding when you need knee surgery
- Celebrating Fourth of July is much cooler in these AZ towns
- Top ten road trip bathrooms in America
- Six things causing a pain in your neck
- 5 things to make your summer move easier
- Three elements of a strong timeshare exit guarantee
- Stretches and exercises for carpal tunnel syndrome
- The best Major League ballparks have their own personality
- Comparing the best regular seasons: The '96 Bulls and '16 Warriors
- 3 Arizona road trips and the vehicles to get you there
- Colon cancer is preventable. Check these signs and symptoms to stay healthy.
- 6 of the biggest skin cancer myths
- Affordable small home makeover ideas