Windham County has the lowest closing costs in Connecticut, but on a percentage basis of total home value, Fairfield County has the lowest costs when it comes to completing a residential sale.
That’s according to the second annual study by New York financial technology company SmartAsset.com.
To calculate closing costs SmartAsset assumed a 30-year fixed-rate mortgage on each county’s median home value and a 20 percent down payment. It considered all applicable closing costs, including the mortgage tax, transfer tax and both fixed and variable fees.
Once the typical closing costs were calculated in each county SmartAsset divided that figure by the county’s median home value.
Here is how the costs break down by the state’s eight counties:
County / Avg. Closing Cost / Avg. Home Cost / % of Home Value
- Fairfield / $10,470 / $422,400 / 2.5%
- Middlesex / $7,669 / $288,300 / 2.7%
- Litchfield / $7,152 / $259,800 2.8%
- Tolland / $7,034 / $252,400 / 2.8%
- New London / $7,023 / $247,700 / 2.8%
- Hartford / $6,875 / $238,600 / 2.9%
- New Haven / $7,379 / $250,400 / 2.9%
- Windham / $6,244 / $203,200 / 3.1%
