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O R I G I NAT I O N S E R V I C I N G A NA LY T I C S S E C O N DA R Y M A R K E T ANALYTICS AROUND THE U.S. ANALYTICS 56 | TH E M R EP O RT Source: Bankrate.com AVERAGE ORIGINATION FEES STATE AVERAGE THIRD-PART Y FEES AVERAGE ORIGINATION PLUS THIRD-PART Y FEES Arizona $1,208 $761 $1,969 Colorado $1,192 $719 $1,910 New Jersey $1,181 $913 $2,094 Iowa $1,161 $762 $1,923 Maryland $1,093 $742 $1,835 Rhode Island $1,093 $802 $1,896 New Hampshire $1,084 $750 $1,835 Illinois $1,080 $767 $1,847 Oregon $1,080 $785 $1,864 District of Columbia $1,077 $718 $1,794 Washington $1,077 $824 $1,901 New Mexico $1,076 $876 $1,952 Connecticut $1,074 $960 $2,033 Vermont $1,074 $862 $1,936 Michigan $1,072 $746 $1,818 Indiana $1,067 $770 $1,837 Minnesota $1,067 $689 $1,757 West Virginia $1,067 $904 $1,971 Alabama $1,066 $776 $1,842 Montana $1,062 $855 $1,917 Kentucky $1,060 $737 $1,797 Louisiana $1,060 $817 $1,877 Georgia $1,058 $821 $1,879 South Carolina $1,058 $837 $1,895 Arkansas $1,057 $760 $1,817 Pennsylvania $1,055 $678 $1,733 South Dakota $1,055 $704 $1,759 Virginia $1,050 $787 $1,837 Kansas $1,047 $753 $1,800 Nebraska $1,047 $770 $1,817 Wisconsin $1,047 $723 $1,770 Mississippi $1,046 $837 $1,884 North Dakota $1,045 $791 $1,836 Missouri $1,040 $792 $1,833 North Carolina $1,036 $875 $1,911 Hawaii $1,033 $1,130 $2,163 Tennessee $1,033 $773 $1,806 New York $1,032 $879 $1,911 Texas $1,031 $833 $1,864 Florida $1,028 $778 $1,806 Oklahoma $1,027 $734 $1,761 Nevada $1,002 $848 $1,850 California $937 $896 $1,834 Alaska $935 $922 $1,857 Ohio $933 $681 $1,613 Utah $909 $788 $1,697 Massachusetts $905 $851 $1,756 Delaware $904 $924 $1,828 Maine $897 $830 $1,727 Idaho $894 $788 $1,682 Wyoming $874 $814 $1,689 The Highs and Lows of Closing Costs Closing costs on mortgage loans have lowered over the past year, making purchasing a home less costly for consumers. A ccording to Bankrate.com research, mortgage-closing costs dropped 7 percent over the past year and now average $1,847 on a $200,000 loan. The research also determined that origination fees decreased, while third-party costs increased. "Homebuyers have more say over closing costs than they think," said Holden Lewis, Bankrate.com's senior mortgage analyst. "Costs vary between lenders, so everyone should compare at least three different options. You don't have to go with the lender your agent suggests." Bankrate found that Hawaii's average closing costs are the highest in the nation at $2,163. This amount breaks down into $1,033 in origination fees and average third-party fees of $1,130. On the other end of the spectrum, the cheapest closing costs were recorded in Ohio at $1,613. This breaks down to $933 in origination fees and an average of $681 in third-party fees.