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ClosingCorp Reports Average Closing Cost Data for Purchase Mortgages in 2020
March 11, 2021 GMT
SAN DIEGO (BUSINESS WIRE) Mar 11, 2021
ClosingCorp, a leading provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, today released its most recent closing cost data, which showed that in 2020 national average closing costs for a single-family property were $6,087 including taxes, and $3,470 excluding taxes. These were 5.9 percent and 3.9 percent year-over-year increases, respectively.
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ClosingCorp cost calculations include lender’s title policy, owner’s title policy, appraisal, settlement, recording fees, land surveys and transfer tax. ClosingCorp uses home price data from CoreLogic to estimate closing costs for an average home at the state, core-based statistical area (CBSA) and county levels. ClosingCorp