Closing Costs Not Consistent Across Country

Bankrate surveyed 9 to 15 lenders in each state, plus Washington, D.C., and asked them to estimate the closing costs on a $180,000 loan to a buyer with an excellent credit history who had made a down payment of at least 20% on a single-family home in the state's largest city. Among the findings, the survey showed that:--The biggest differences among states came from the wildly varying costs for title insurance.--Fees for settlement services and title searches accounted for much of the rest of the disparities.--Origination costs (the fees that lenders control) didn't vary much from state to state, though they did differ from lender to lender. Wyoming had the lowest mortgage-related fees and New York had the highest. (Source: Bankrate.com) Full story . . .

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