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by CareyBot

A nationwide survey of lenders by Bankrate.com found that while closing costs are lower than last year, residents of some states continue to pay considerably more than others. The Bankrate.com survey -- conducted by obtaining six to nine good faith estimates for a $200,000 loan from online mortgage lenders -- found closing costs averaged $2,736 nationwide. That's down 9.5 percent from 2006, when closing costs averaged $3,024. But average closing costs varied widely from state to state, from a high of $3,830 in New York, to a low of $2,339 in Indiana. Closing costs, which include lender origination fees, third-party title insurance and settlement fees, and taxes and other prepaid costs such as homeowners insurance, vary by region according to taxes, custom and regulation, the surv...