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Exclusive   2007 closing costs study
  STATISTIC: For all states and the District of Columbia, total origination  
  and closing costs averaged $2,736.  
   
State-by-state costs

Closing costs averages: New Mexico

 
Closing costs
New Mexico Loan amount: $200,000
Item Albuquerque, N.M. U.S. average
Origination fees
Points ($) $806.00 $710.94
Application fee $417.50 $425.00
Commitment fee $565.00 $565.72
Document preparation $188.33 $187.24
Funding fee $225.00 $225.00
Origination or lender fees $1,360.00 $1,114.81
Processing $376.25 $370.93
Tax service $63.00 $66.28
Underwriting $255.00 $246.84
Wire transfer $30.00 $29.23
 
Title and closing
Appraisal $321.88 $325.98
Attorney, closing or
settlement fee
$391.14 $343.89
Credit report $12.74 $12.52
Flood certification $11.00 $11.10
Pest, other inspection $47.50 $49.95
Postage/courier $28.19 $28.30
Survey $208.75 $134.85
Title insurance $755.27 $707.30
Title work: Title search, plat drawing, name search, endorsements $118.33 $197.71
 
Government fees
Recording fee $85.50 $95.12
City/county/state tax stamps/intangible tax -- $1,371.49
 
Prepaid $1,441.89 $1,468.55
Escrow $700.00 $707.56
Total cost $3,395.75 $3,681.04
 
Average origination $1,362.44 $1,294.04
Average title and closing $1,559.11 $1,442.17
Average origination plus title $2,921.55 $2,736.21
-- Posted: July 12, 2007
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