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The average closing costs percentage is usually about 2-5% of the purchase price (e.g., ~$4500 on a $180,000 home), but 1-8% is not uncommon. And to be clear, nobody chooses a specific percentage numberâthe closing costs will just happen to add up to some percentage.
CLEVELAND, Ohio -- Ohio has the lowest mortgage closing costs of any state nationwide, according to a new survey. Ohio's total of $1,613 in closing costs on a typical $200,000 home is $500 less than the total in Hawaii, which has the most expensive closing costs, according to a Bankrate.com study released this week. That total includes $933 in lender origination fees and $681 in third-party charges for items such as appraisals. Nationwide, closing costs dropped by 7 percent in the past year, Bankrate said, averaging $1,847 on a $200,000 loan.