Maryland homeowners pay higher closing costs that nearly every other state.
According to National Mortgage News, Maryland has the fourth highest closing costs in the country.
This means that homeowners pay more to buy a home in Maryland than they would pay for a comparable home elsewhere.
Closing cost includes, but are not limited to:
- Origination fee
- Appraisal fee
- Application fee
- Escrow fee
- HOme inspection
- Loan discount points
- PMI or private mortgage insurance
- Underwriting fee
For more on explanation of these fees go to Zillow.com