News Column

BRIEF: Minnesota has relatively low closing costs

August 6, 2014

By Kevin Allenspach, St. Cloud Times, Minn.

Aug. 06--Minnesota has the 14th-lowest closing costs of the 50 states plus the District of Columbia, according to a recent survey by

Based on a good-faith estimate for a $200,000 loan, lender's origination fees in Minnesota averaged $1,836. Origination plus third-party fees totaled $2,436.

No other state in the five-state region was lower. Wisconsin had the fifth-highest costs.

Final charges will vary based on title insurance, title search, taxes, other government fees and escrow fees that were not included.

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Source: St. Cloud Times (MN)

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