by Julie Tisdale
City & County Policy Analyst
The Triad Business Journal has an interesting headline today: ?N.C.’s closing costs among top 3 most expensive in US. They’re reporting on a study done by Bankrate.com
Bankrate requested good faith estimates for a $200,000 mortgage loan from up to 10 lenders in a large city in each state, plus Washington, D.C. The hypothetical loan was for a purchase of a single-family house, using a 20% down payment, with excellent credit.
We’re third overall, which isn’t good. Bankrupt also broke down that total into origination fees (N.C. ranked 6th) and 3rd-party fees (N.C. was 4th). It makes me wonder how much this varies between different parts of the state, and whether there are ways that government regulations are driving those costs up.