Wisconsin Mortgage Corporation has Lowest Closing Cost in the Nation

According to Bankrate.com, Wisconsin has the fifth-highest closing cost in the nation at $2,706 — Wisconsin Mortgage Corporation actually has the lowest at $1,034.

For the survey, Bankrate.com requested good faith estimates for a $200,000 mortgage loan from up to 10 lenders in each state, plus Washington, D.C. The hypothetical loan was for a purchase of a single-family house in the state’s largest city, using a 20 percent down payment, with excellent credit. An asterisk denotes a tie in the rankings.

The table below ranks states by average closing costs, from most expensive to least expensive. Not included in costs: insurance, title search, taxes, other government fees and escrow fees. (Origination fees are an up-front fee charged by a lender for processing a new loan application. Third-party fees could include attorneys, insurance agencies or any association important to the home loan process. Add the origination fee plus the third-party fee and that gives you the total amount owed: origination plus third-party fees.)

Closing costs
2014 rank	State	Lender’s origination fees	Third-party fees	Origination plus third-party fees
1	Texas	$2,280	$766	$3,046
2	Alaska	$2,195	$703	$2,897
3	New York	$2,109	$783	$2,892
4	Hawaii	$2,009	$799	$2,808
5	Wisconsin	$2,035	$671	$2,706
6	Nebraska	$1,975	$679	$2,654
7	Vermont	$1,979	$670	$2,649
8	Florida	$1,982	$666	$2,648
9	New Hampshire	$1,975	$666	$2,641
10	New Jersey	$1,891	$733	$2,625
11	Alabama	$1,967	$646	$2,613
12	North Carolina	$1,887	$714	$2,602
13	North Dakota	$1,936	$663	$2,599
14	Kansas	$1,956	$625	$2,582
15	Louisiana	$1,928	$652	$2,580
16	Rhode Island	$1,931	$645	$2,576
17	Massachusetts	$1,871	$693	$2,564
18	South Dakota	$1,940	$623	$2,563
19	Mississippi	$1,931	$629	$2,560
20	Oregon	$1,896	$663	$2,559
21	Connecticut	$1,885	$670	$2,555
22	California	$1,881	$661	$2,542
23	Utah	$1,889	$648	$2,537
24	Wyoming	$1,890	$628	$2,518
25*	West Virginia	$1,805	$711	$2,516
25*	Delaware	$1,771	$745	$2,516
25*	New Mexico	$1,761	$755	$2,516
28	Pennsylvania	$1,907	$603	$2,511
29	Oklahoma	$1,908	$591	$2,498
30	Maine	$1,854	$643	$2,497
31	South Carolina	$1,786	$708	$2,494
32	Montana	$1,796	$695	$2,491
33	Illinois	$1,841	$640	$2,481
34	Virginia	$1,840	$639	$2,479
35	Iowa	$1,773	$675	$2,448
36*	Idaho	$1,800	$641	$2,440
36*	Indiana	$1,796	$644	$2,440
38	Minnesota	$1,836	$619	$2,436
39	Colorado	$1,817	$619	$2,436
40*	Washington	$1,830	$605	$2,435
40*	Michigan	$1,835	$600	$2,435
42	Georgia	$1,766	$667	$2,433
43	Kentucky	$1,790	$640	$2,430
44	Arizona	$1,810	$615	$2,425
45	Arkansas	$1,815	$605	$2,420
46	Maryland	$1,836	$568	$2,404
47	District of Columbia	$1,791	$612	$2,402
48	Ohio	$1,707	$685	$2,392
49	Missouri	$1,749	$638	$2,387
50	Tennessee	$1,746	$620	$2,366
51	Nevada	$1,570	$695	$2,265
Average	$1,877	$662	$2,539

“Wisconsin Mortgage Corporation is here to help buyers — we want to see you in your dream home,” said John Inzeo, President of Wisconsin Mortgage Corporation. “We work hand in hand with Shorewest, REALTORS® to deliver a complete package of services to buyers that they can afford.”

If you’re looking to refinance your home or ready to purchase a new one, contact Wisconsin Mortgage Corporation today.

Tags: buying a home, current housing market, Home Buying, Housing Market, living in milwaukee, Milwaukee, Mortgage, real estate advice, real estate market, shorewest, Shorewest Realtors, Wisconsin, Wisconsin Mortgage Corporation