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 survey noted. Factors that explain New York's place on top of the survey for the second year in a row include a mortgage tax levied on lenders, and a mortgage recording tax, Bankrate.com said in repo...
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