---
title: "TermVerify Closing Cost Index 2025: What Borrowers Paid, by State | TermVerify"
description: "The TermVerify Closing Cost Index covers 3.78 million federally reported 2025 mortgages: median loan costs by state, purchase vs. refinance, origination charges, points, and rates. Refreshed with each annual HMDA release. Free public data, full methodology, citable."
canonical: https://www.termverify.com/research/mortgage-closing-costs-2025
---

$6,731

2,706,510 loans

Median loan costs, purchase

$6,232

1,074,590 loans

Median loan costs, refinance

$10,955

Hawaii

Costliest state (purchase median)

$2,747

Iowa

Least costly state (purchase median)

## Key findings

1.  **The median purchase borrower paid $6,731 in loan costs** (Loan Estimate Sections A+B+C) at a median rate of 6.49%. The middle half of borrowers ranged from $4,416 to $10,653. That $6,237 spread between comparable loans is the case for shopping in one number.
2.  **Geography moves the bill by $8,208.** Hawaii borrowers paid a median $10,955; Iowa borrowers paid $2,747. Loan size explains much of it: costlier states have bigger loans, and points and title premiums scale with the amount.
3.  **Refinances closed cheaper than purchases** (median $6,232 vs. $6,731), largely because purchases carry title and settlement work a refinance can streamline. Any benchmark that mixes the two overstates what a refinance should cost.
4.  **Lender-set charges are the stable core of the bill:** median origination charges were $1,890 on purchases. That is the number to anchor on when a Section A total runs into the thousands more.

## Every state, ranked by purchase closing costs

Median total loan costs (LE Sections A+B+C) for 2025 first-lien purchase and refinance loans on site-built primary residences. Typical range is the 25th–75th percentile for purchases.

Median mortgage loan costs by state, 2025, purchase and refinance
| # | State | Purchase median | Typical range | Refi median | Median loan |
| --- | --- | --- | --- | --- | --- |
| 1 | Hawaii | $10,955 | $6,759 – $17,525 | $9,453 | $585,000 |
| 2 | California | $9,428 | $6,308 – $15,335 | $5,903 | $585,000 |
| 3 | Puerto Rico | $8,884 | $6,489 – $12,211 | $8,870 | $145,000 |
| 4 | Florida | $8,798 | $5,536 – $12,944 | $8,056 | $345,000 |
| 5 | Idaho | $8,763 | $5,502 – $13,375 | $7,841 | $385,000 |
| 6 | Nevada | $8,648 | $5,015 – $13,182 | $7,664 | $415,000 |
| 7 | Texas | $8,515 | $5,702 – $12,074 | $6,608 | $315,000 |
| 8 | Arizona | $8,505 | $5,534 – $13,121 | $6,594 | $385,000 |
| 9 | Utah | $8,426 | $4,800 – $13,524 | $7,160 | $445,000 |
| 10 | Georgia | $8,090 | $5,243 – $11,795 | $7,338 | $335,000 |
| 11 | Maryland | $7,842 | $5,212 – $12,317 | $7,437 | $405,000 |
| 12 | Alaska | $7,798 | $4,521 – $11,952 | $7,230 | $375,000 |
| 13 | Oregon | $7,785 | $5,095 – $12,462 | $7,402 | $415,000 |
| 14 | Washington | $7,709 | $5,181 – $12,745 | $6,227 | $505,000 |
| 15 | Montana | $7,540 | $5,027 – $11,533 | $6,842 | $365,000 |
| 16 | District of Columbia | $7,531 | $5,819 – $11,390 | $6,256 | $565,000 |
| 17 | New Jersey | $7,494 | $5,540 – $11,918 | $8,060 | $455,000 |
| 18 | Wyoming | $7,393 | $4,573 – $10,504 | $6,785 | $315,000 |
| 19 | Delaware | $7,378 | $5,143 – $11,545 | $8,132 | $345,000 |
| 20 | Virginia | $6,907 | $4,718 – $11,168 | $6,603 | $385,000 |
| 21 | New Mexico | $6,818 | $4,344 – $10,419 | $7,180 | $305,000 |
| 22 | South Carolina | $6,783 | $4,481 – $10,174 | $6,354 | $295,000 |
| 23 | Tennessee | $6,715 | $4,388 – $10,379 | $6,820 | $325,000 |
| 24 | Connecticut | $6,548 | $4,980 – $10,396 | $7,388 | $355,000 |
| 25 | Pennsylvania | $6,511 | $4,891 – $9,335 | $7,184 | $275,000 |
| 26 | New York | $6,505 | $4,496 – $10,522 | $7,747 | $385,000 |
| 27 | Colorado | $6,435 | $3,707 – $11,868 | $6,230 | $455,000 |
| 28 | Louisiana | $6,303 | $4,441 – $8,908 | $6,133 | $245,000 |
| 29 | Illinois | $6,273 | $4,341 – $8,003 | $3,939 | $275,000 |
| 30 | Mississippi | $6,272 | $4,134 – $8,906 | $5,711 | $245,000 |
| 31 | Oklahoma | $6,223 | $4,399 – $9,046 | $6,793 | $235,000 |
| 32 | Alabama | $6,162 | $3,858 – $8,911 | $6,152 | $265,000 |
| 33 | North Dakota | $5,776 | $3,811 – $8,400 | $5,728 | $285,000 |
| 34 | Rhode Island | $5,767 | $4,393 – $11,614 | $6,814 | $415,000 |
| 35 | North Carolina | $5,707 | $4,105 – $9,219 | $6,122 | $325,000 |
| 36 | South Dakota | $5,637 | $3,565 – $8,075 | $5,695 | $295,000 |
| 37 | Minnesota | $5,611 | $4,201 – $8,248 | $5,505 | $305,000 |
| 38 | Massachusetts | $5,560 | $4,529 – $8,804 | $5,370 | $505,000 |
| 39 | West Virginia | $5,437 | $3,815 – $8,332 | $5,652 | $235,000 |
| 40 | Ohio | $5,258 | $3,888 – $8,006 | $5,518 | $245,000 |
| 41 | Vermont | $5,156 | $4,065 – $7,570 | $5,175 | $325,000 |
| 42 | Arkansas | $5,128 | $3,450 – $7,703 | $5,476 | $245,000 |
| 43 | Kentucky | $4,958 | $3,467 – $7,981 | $5,097 | $245,000 |
| 44 | Maine | $4,737 | $3,774 – $7,955 | $5,642 | $335,000 |
| 45 | New Hampshire | $4,702 | $3,957 – $8,072 | $5,914 | $405,000 |
| 46 | Michigan | $4,530 | $3,538 – $6,795 | $5,065 | $245,000 |
| 47 | Missouri | $4,262 | $3,215 – $6,745 | $4,602 | $245,000 |
| 48 | Indiana | $3,920 | $2,860 – $6,801 | $5,148 | $245,000 |
| 49 | Kansas | $3,758 | $2,877 – $6,357 | $4,796 | $255,000 |
| 50 | Nebraska | $3,511 | $2,736 – $6,327 | $4,443 | $265,000 |
| 51 | Wisconsin | $3,446 | $2,656 – $5,219 | $3,087 | $275,000 |
| 52 | Iowa | $2,747 | $2,019 – $4,886 | $3,280 | $215,000 |

## What this data is (and is not)

**It is** the federal Home Mortgage Disclosure Act (HMDA) loan-level register for 2025, published by the CFPB and FFIEC on March 31, 2026: closed first-lien loans on site-built principal residences with reported loan costs, segmented purchase vs. refinance. "Total loan costs" is the HMDA field corresponding to Loan Estimate Sections A+B+C: lender and settlement charges, _excluding_ taxes, prepaid interest, and escrow deposits.

**It is not** a rate sheet. These are last year's closed loans; rates have moved since and will keep moving. Cost structure moves far more slowly, which is why the cost columns are durable benchmarks while the rate column is context. It also is not a lender ranking. HMDA contains no per-fee breakdown, and no public dataset does; any site claiming per-fee "verified" national benchmarks is working from the same five HMDA cost fields shown here.

Full population filters, field definitions, suppression thresholds, and known limitations: [termverify.com/methodology](https://www.termverify.com/methodology).

## Cite or reuse this research

This analysis is derived entirely from public-domain federal data and may be cited with attribution:

TermVerify Closing Cost Index, 2025 Edition — analysis of CFPB HMDA 2025 Modified LAR. termverify.com/research/mortgage-closing-costs-2025

Journalists and researchers: for state extracts or questions about the methodology, contact [support@termverify.com](mailto:support@termverify.com).

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