NV ranked 15th for highest closing costs in US | NevadaAppeal.com

NV ranked 15th for highest closing costs in US

LAS VEGAS (AP) – An online financial research firm says Nevada has the 15th-highest closing costs for home purchases in the nation, up from 34th a year ago.

The Las Vegas Review-Journal reports that Bankrate.com showed Nevada with an average $1,673 origination fee and $2,571 in title and closing costs for a total of $4,244.

New York leads the nation again with average closing costs of $6,183. Arkansas is the least expensive with closing costs of $3,378.

Nationwide, the average closing costs for a $200,000 mortgage total $4,070, an 8.8 percent increase from a year ago.

Much of the rise in closing costs is tied to fees charged directly by lenders. On average, lenders charged about $1,614 in origination fees this year, up 10.3 percent from last year.