home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Mortgage Rate News | Mortgage Market Index | ARM indices | ARM Statistics
Average fixed and ARM rates. Rate forecasts. Quotes on ARM indexes including COFI, MTA, LIBOR & Treasuries. Rate reset studies and reports. Mortgage rate litigation.


NY Closing Costs Highest

Bankrate.com announces results of closing cost survey

November 17, 2005

By MortgageDaily.com staff


A survey announced today indicates borrowers in The Empire State pay the highest closing costs, while residents of The Equality State pay the lowest.

Bankrate Inc. announced the results of its new Closing Cost Survey, which compared average closing costs in all 50 states and the District of Columbia.

"This "new data further evens the playing field, allowing consumers to comparison shop the whole deal, not just the rates," said Daniel P. Ray, Bankrate.com editor in chief, in the announcement.

The survey, which presents averages for 21 fees typically charged at closing and consists of responses from nine to 15 lenders in each state, showed that the "biggest differences among states came from the varying costs for title insurance, fees for settlement services and title searches," Bankrate said. While the origination costs differed from lender to lender, they did not vary much from state to state.

In estimating the closing costs on a $180,000 single-family home loan to a borrower with excellent credit history and downpayment of at least 20 percent, New York charges an average of $3,907 -- the highest average in the nation.

The second highest closing fees are reportedly paid by borrowers in Hawaii, who can expect to pay an average $3,628, and with $8 less than that, Alaskans pay the third largest amount, according to the announcement.

Florida's average closing costs of $3,196 were the fifth largest, Pennsylvania's $3,033 came in seventh, followed by California's $3,022, and the 10th highest were Ohio's $2,990, Bankrate reported.

Illinois was listed as the state with the 40th highest average at $2,533.

Wyoming borrowers can expect to pay $2,101 -- the lowest average in the nation -- which is preceded by South Dakota's $2,251 and Kansas' $2256, Bankrate said.


Predatory Lending News
FTC and HUD settlements. Class action lawsuits. Predatory lending prevention. Archives back to 2001.





SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders