Closing Costs by State at $600K
Closing cost impact of transfer taxes by state on $600K purchase
| State | Transfer Tax Rate | Transfer Tax on $600K | Estimated Total Closing |
|---|---|---|---|
| Texas / Montana | 0% | $0 | $8,500–$12,000 |
| California | 0.11% county | $660 | $9,500–$14,000 |
| Colorado | 0.01% | $60 | $9,000–$12,500 |
| Georgia | 0.10% | $600 | $10,000–$14,000 |
| New York | 0.40% state + local | $2,400+ | $14,000–$22,000 |
| Maryland | 0.5% state + county | $3,000+ | $15,000–$24,000 |
| Delaware | 4% total | $24,000 | $28,000–$35,000 |
| DC | 2.2% | $13,200 | $20,000–$30,000 |
A $600K home with less than 20% down often requires a jumbo loan (above $766,550 in most areas), which carries premium closing costs: higher origination fees (often 1.5%+), more stringent appraisal requirements ($700–$1,200), and sometimes required second appraisal. Budget an additional $2,000–$4,000 vs. conforming loan estimates.
The Discount Point Analysis at $600K
On a $540,000 loan (10% down on $600K): 1 discount point = $5,400. Rate reduction: 0.25%. Monthly savings: $81. Break-even: 67 months. For a buyer planning to stay 7+ years in this home: buying 1 point is financially justified. Buying 2 points ($10,800): monthly savings $162, break-even 67 months — same decision threshold applies.
Strategies to Minimize Cash at Closing on $600K
- 20% down avoids jumbo in many areas: Below $766,550 with 20% down: conventional conforming loan at better rates and lower origination.
- Seller concessions: 2% on $600K = $12,000 in credits — significantly reduces cash needed.
- Lender credits for closing: Accepting 0.375% higher rate on $540K mortgage: $150/month more, but saves $10,000+ in closing costs.
- Close at end of month: Save $900–$1,500 in prepaid interest on a $540K loan.
Calculate Your $600K Closing Costs by State
State transfer taxes make the biggest difference at this price — get your accurate estimate.