Newport County, Rhode Island Closing Costs
On the $559,700 median Newport County home, the county-specific closing items come to about $6,210: transfer tax $4,200, title insurance $2,010. Lender fees, appraisal and prepaids are added by the loan, not the county.
County-specific closing costs by purchase price
| Purchase price | Transfer tax | Title insurance (both policies) | Total |
|---|---|---|---|
| $150,000 | $1,125 | $575 | $1,700 |
| $200,000 | $1,500 | $750 | $2,250 |
| $250,000 | $1,875 | $925 | $2,800 |
| $300,000 | $2,250 | $1,100 | $3,350 |
| $350,000 | $2,625 | $1,275 | $3,900 |
| $400,000 | $3,000 | $1,450 | $4,450 |
| $450,000 | $3,375 | $1,625 | $5,000 |
| $500,000 | $3,750 | $1,800 | $5,550 |
| $600,000 | $4,500 | $2,150 | $6,650 |
| $700,000 | $5,250 | $2,500 | $7,750 |
| $800,000 | $6,000 | $2,850 | $8,850 |
| $1,000,000 | $9,000 | $3,550 | $12,550 |
Frequently asked questions
How much are closing costs in Newport County?
On the $559,700 median home, the county-specific items come to about $6,210: transfer tax $4,200, title insurance $1,960 for the owner's policy and $50 for the lender's. Lender fees, an appraisal, prepaid taxes and insurance come on top and depend on the loan.
Who pays these in Newport County?
The seller customarily pays the Rhode Island transfer tax. Who pays the owner's title policy is negotiable; the buyer pays the lender's policy and the mortgage recording fee.
Sources
- U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25077 (median value of owner-occupied housing units)
- R.I. Gen. Laws Section 44-25-1, Real Estate Conveyance Tax
- WFG National Title Insurance Company, Rhode Island Title Insurance Rate Manual, Section 3 Basic Rate Table, effective March 1, 2023
Figures are computed from the documents above and rounded to the dollar. All sources.
All Rhode Island buyer closing costs → Newport County home buyer guide →
Figures are computed from the documents above and rounded to the dollar. General information, not financial advice.
Newport County overview