Houses in States That Offer
Low Mortgage Closing Costs

The average 2006 closing costs for a $200,000 mortgage loan is $3,024, according to a Bank Rate Monitor annual survey. New York state was on top with $3,887. Here are homes in states with the lowest costs.

 PLACE/PRICE: Ballwin, Mo. / $229,900

TAXES*: $2.312 per year

THE PROPERTY: 3 bedrooms, 2½ baths, 1,441 square feet

DESCRIPTION: This two-story, partial brick home has an updated kitchen with ceramic flooring. A bay window in the breakfast area overlooks a fenced yard that has a deck and a play set. The basement is finished.

NOTABLE: The average closing costs in Missouri are $2,713. Buyers here tend to pay $269 in attorney or settlement fees, $320 for an appraisal, $243 for an application fee and $668 for lender or mortgage broker fees.

PLACE/PRICE: Dearborn Heights, Mich. /$366,000

TAXES*: $2,346 per year

THE PROPERTY: 5 bedrooms, 2½ baths, 3,000 square feet

DESCRIPTION: This 2006 brick home has a family room with a gas fireplace and there is a formal dining room. The master suite has a walk-in closet. There is a basement and two-car attached garage.

NOTABLE: The average closing costs in Michigan are $2,714. Buyers here tend to pay $362 in attorney or settlement fees, $329 for an appraisal, $244 for an application fee and $948 for lender or mortgage broker fees.

PLACE/PRICE: Hopkinton, N.H. / $695,000

TAXES*: $15,831 per year

THE PROPERTY: 9 bedrooms, 4 baths, 7,500 square feet

DESCRIPTION: This 1790 two-story home with 18 rooms and 10½ foot ceilings has nine fireplaces, wide pine flooring and wainscoting throughout. There is an attic, a carriage house, a barn and a workshop.

NOTABLE: The average closing costs in New Hampshire are $2,734. Buyers here tend to pay $539 in attorney or settlement fees, $316 for an appraisal, $281 for an application fee and $640 for lender or mortgage broker fees.

Sources: bankrate.com, mariefarnsworth.com, century21cc.com, landvest.com

Notes: *Current owner's payment

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