North Carolina is the second cheapest state for mortgage closing costs even though they are going up nationwide, according to a new survey from Bankrate Inc.
The Bankrate 2011 Closing Costs Survey shows that nationwide the average origination and title fees on a $200,000 mortgage are up 8.8 percent from a year ago for a total of $4,070.
In North Carolina, the total cost is $3,410, which includes $1,839 in title and closing costs, as well as $1,571 in origination fees. Origination fees include lender charges for services such as underwriting and processing. Only Arkansas, at $3,378, had a cheaper total.
New York is the most expensive state with total fees of $6,183, followed by Texas ($4,944) and Utah ($4,906).
Check out the Bankrate 2011 Closing Costs Survey here.
Source: North Carolina Mortgage Closing Costs - Lowest in USA
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