Mobile Realtoreality

In the latest Bankrate.com survey of closing costs by state, Alabama ranks 21st in 2008, tied with Massachusetts. The same survey found Alabama in 39th place a year ago. The average closing costs in Alabama are $3,130 according to the survey.

Bankrate.com researchers gathered closing-cost information from at least four lenders in all 50 states and the District of Columbia. In California, Illinois and New York researchers also collected data from multiple markets where there was a presumed disparity.

Researchers requested a good faith estimate for a $200,000 loan, assuming a 20-percent down payment and good credit. Below, ranked from most expensive to least expensive, are the average closing costs charged by the lending industry for a mortgage in each state. Your costs will be higher than shown here because the most highly variable costs are not included: Taxes, other governmental fees and escrow fees. They vary almost infinitely, by locale and by which day of the month the closing occurs.

Top 10 Most Expensive States For Closing Costs in 2008

1. New York : $4,015
2. Texas: $3,975
3. New York: $3,845
4. Florida: $3,683
5. Oklahoma: $3,558
6. New Mexico: $3,466
7. New Jersey: $3,432
8. Pennsylvania: $3,411
9. Alaska: $3,408
10. Colorado: $3,358