Blog with Masonboro Realty

North Carolina is the second-least-expensive state for mortgage closing costs even though those expenses 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, has a lower total.

New York is the most expensive state, with total fees of $6,183 It is followed by Texas ($4,944) and Utah ($4,906).

Charlotte Business Journal - by Olivia Barrow, Triangle Business Journal Date: Monday, July 18, 2011.