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 www.bankrate.com.

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.

Send business news and tips to Times Business Reporter Kevin Allenspach at kallenspach@stcloudtimes.com. Get business news at www.sctimes.com/business, on Facebook at Kevin Allenspach -- St. Cloud Times, and on Twitter @KevinAllenspach. Find more blog entries at www.sctimes.com/business.

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(c)2014 the St. Cloud Times (St. Cloud, Minn.)

Visit the St. Cloud Times (St. Cloud, Minn.) at www.sctimes.com

Distributed by MCT Information Services


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Source: St. Cloud Times (MN)


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