Average Mortgage Closing Costs Down 7.4% Over Past Year

In welcome news for the housing market, CNN Money recently reported that the average cost of closing on a mortgage has fallen by 7.4% over the past year. As an example, at the end of June, a home buyer in the United States looking to close on a $200,000 mortgage with 20% down paid an average of $3,754. That’s $300 less than 12 months earlier. Apparently, the decline can be attributed to new federal regulations, which require lenders to be more accurate when estimating closing costs for borrowers. Read the rest of the CNN Money article

Turning to mortgage news in Colorado, Bankrate.com conducted a nationwide survey in 2012 of mortgage closing costs. Looking at every state in the country, Bankrate.com found that Colorado had the third lowest average closing costs for home mortgages. Based once again on a $200,000 mortgage with 20% down, Colorado closing costs were generally $555 less than the national average, coming in at $3,199. Great news for anyone buying a home in our state!

If you’re interested in potentially getting into the Summit County real estate market, this is a great time to find bargains in homes that have been on the market all summer but haven’t quite sold yet. Please don’t hesitate to contact Philip with your questions.

Summit County Listings With Price Drops in Last 4 Days

(Arranged below by newest listing first)

$329,000
MLS# S388340
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year Save Listing
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year View Details
s Average Mortgage Closing Costs Down 7.4% Over Past Year
91 Audrey Cir
Breckenridge, CO 80424
2 Bedrooms, 3 Baths
Residential
Slifer Smith & Frampton R.e.
 
$209,500
MLS# S389161
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year Save Listing
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year View Details
s Average Mortgage Closing Costs Down 7.4% Over Past Year
110 Now Colorado Ct , Unit D1
Breckenridge, CO 80424
2 Bedrooms, 1 Baths
Residential
Breckenridge Mtn Real Estate
 
$769,000
MLS# S389160
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year Save Listing
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year View Details
s Average Mortgage Closing Costs Down 7.4% Over Past Year
25 Black Bear Ct
Silverthorne, CO 80498
4 Bedrooms, 4 Baths
Residential
Re/max Properties/69
 
$392,500
MLS# S388946
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year Save Listing
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year View Details
s Average Mortgage Closing Costs Down 7.4% Over Past Year
935 Columbine Rd , Unit 102
Breckenridge, CO 80424
2 Bedrooms, 2 Baths
Residential
Slifer Smith & Frampton R.e.
 
$665,000
MLS# S388869
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year Save Listing
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year View Details
s Average Mortgage Closing Costs Down 7.4% Over Past Year
175 Snowberry Way
Dillon, CO 80435
4 Bedrooms, 4 Baths
Residential
Cherry Creek Properties, Llc
 
$340,000
MLS# S388800
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year Save Listing
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year View Details
s Average Mortgage Closing Costs Down 7.4% Over Past Year
4 Zoe Ct
Breckenridge, CO 80443
2 Bedrooms, 3 Baths
Residential
Colorado R.e.-hank Wiethake
 
$859,000
MLS# S388711
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year Save Listing
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year View Details
s Average Mortgage Closing Costs Down 7.4% Over Past Year
227 Mountain View Dr
Blue River, CO 80424
4 Bedrooms, 4 Baths
Residential
Colorado Mountain Real Estate
 
$534,900
MLS# S387844
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year Save Listing
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year View Details
s Average Mortgage Closing Costs Down 7.4% Over Past Year
461 Marmot Cir
Silverthorne, CO 80498
4 Bedrooms, 3 Baths
Residential
Re/max Properties/66
 
$250,000
MLS# S388394
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year Save Listing
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year View Details
s Average Mortgage Closing Costs Down 7.4% Over Past Year
252 Cove Blvd , Unit R4
Summit Cove, CO 80435
2 Bedrooms, 2 Baths
Residential
Summit Hoa Services, Inc.
 
$285,000
MLS# S388030
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year Save Listing
sr arrow Average Mortgage Closing Costs Down 7.4% Over Past Year View Details
s Average Mortgage Closing Costs Down 7.4% Over Past Year
6740 Ryan Gulch Rd , Unit 6740
Wildernest, CO 80498
2 Bedrooms, 2 Baths
Residential
Slifer Smith & Frampton R.e.
 
< 1 2 >
s Average Mortgage Closing Costs Down 7.4% Over Past Year
Disclaimer and Terms