Monday, 12 April 2021 | The Latest Buzz for the Appraisal Industry

ClosingCorp: Average Closing Costs Accounted for Less Than One Percent of Loan Amount in 2020

The average closing costs for a single-family residential property refinance in 2020 were $3,398 including taxes – $2,287 excluding taxes – according to ClosingCorp, a provider of residential real estate closing cost data and technology for the mortgage and real estate services industries.

Conversely, average closing costs for a home purchase were $6,087 including taxes – $3,470 excluding taxes.

In its report, ClosingCorp notes that most states do not impose transfer and other local

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