We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.
Closing costs in Rhode Island
See how much you might have to shell out in closing costs when you buy or sell a home in this state.
The average closing cost in Rhode Island is $3,477 after taxes, or approximately 0.87% to 1.16% of the final home sale price.
Closing cost stats in Rhode Island
Across the state, the average home sells for between $300,000 and $400,000. If you buy a property in that range, expect to pay between $2,607.75 and $4,636 in closing costs after taxes.
|Average home sale price||$300,000 to $400,000|
|Average total closing cost||$3,477|
|Expected closing cost range||$2,607.75 to $4,636|
|Percentage of closing cost to home sale price||0.87% to 1.16%|
Find a low mortgage rate for buying a home in Rhode Island
How much does tax affect the closing cost?
Buyers and sellers in Rhode Island pay an average of $603 in tax combined for the closing. This accounts for 17.34% of the total average closing cost in Rhode Island.
|Average tax paid||$603|
|Percentage of total closing cost||17.34%|
How do closing costs in Rhode Island compare nationally?
The closing costs for buying a home in Rhode Island are above the national average after accounting for taxes. It’s 26 in our rankings which rates states from lowest to highest closing cost.
|Average total closing cost in Rhode Island||Ranking*|
*Ranked from lowest to highest of the 50 states plus Washington DC
Closing costs are inevitable when you're buying or selling a property. The exact amount will vary depending on where the property is located in Rhode Island.
To save on your home loan, consider comparing the fees and rates of top lenders before signing.
Read more on this topic
Alterra Home Loans review Unique lender that offers ITIC loan options and accepts non-traditional credit and income sources.
Why was my home loan application rejected? Discover why your lender may reject your home loan application and find out how you can improve your chance of being approved for financing.
Chase Bank vs. Bank of America mortgages We take a look at how these two big-name institutions compare for mortgage lending services.
BBVA vs. Chase Bank mortgages Both of these lenders are big name banks, but find out which has a troubled legal history.
Ally Bank vs. Chase Bank mortgages Both of these lenders offer more than just mortgage services, but one is better if you're looking for multiple home loan options.
How to get preapproved for a VA loan Accelerate your journey to homeownership by getting preapproved for your VA loan.
Churchill Mortgage review A Dave Ramsey-endorsed lender focused on “debt-free homeownership” through conventional and nontraditional mortgages.
Reverse mortgage vs. HELOC Both let you leverage the equity in your home, but that’s where the similarities end.
Fifth Third Bank mortgage review Its mortgage selection is impressive but availability is limited to residents of its branch network.
AmeriSave mortgage review It offers a variety of loan options, but the steep application fee is nonrefundable if you don’t close with the company.
Ask an Expert