Bankrate.com ranks Vermont 47th in closing costs

According to the latest report published by Bankrate.com, Vermont now ranks 47th in closing costs in the US, dropping from 30th in the 2007 survey. The US average is $3,118 on a $200,000 loan, assuming good credit and 20 percent down. New York is the highest at an average cost of $4,015.

Vermont Loan amount: $200,000
Item Burlington, Vt.
Origination fees
Points ($) $903.67
Application fee $330.00
Commitment fee $565.00
Document preparation $285.00
Funding fee $0.00
Origination or lender fees $1,031.67
Processing $419.00
Tax service $60.57
Underwriting $300.00
Wire transfer $0.00
Title and closing
Appraisal $290.00
Attorney, closing or
settlement fee
$378.75
Credit report $16.20
Flood certification $11.98
Pest, other inspection $50.00
Postage/courier $28.19
Survey $237.50
Title insurance $609.33
Title work: title search, plat drawing, name search, endorsements $207.50
Total origination $1,537.00
Total title and closing $1,335.00
Total origination plus title $2,872.00

See a chart of all the states here, and read the complete report here.



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