Filed Under:Agent Broker, Personal Lines Business

IQ: New York Costliest State for Mortgage Closing Costs

For the second year in a row, New York is the most expensive state for mortgage closing costs, according to a survey from Bankrate.com.

Bankrate.com surveyed up to 10 lenders in each state in June 2011 and obtained online good faith estimates for a $200,000 mortgage to buy a single-family home with a 20 percent down payment and good credit. Costs include fees charged by lenders, as well as third-party fees for services such as appraisals and title insurance. The survey excludes taxes, property insurance, association fees, interest and other prepaid items.

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