Tuesday, August 7, 2012

Utah mortgage closing costs drop 24 percent from last year

The cost to close on a mortgage in Utah has dropped 24 percent since last year, according to bankrate.com. That surpasses the national average, where the cost to close on a $200,000 mortgage has dropped seven percent to $3,754.

For those wanting to close on a mortgage in Utah, it will cost $3,724, which dropped from last year's $4,906, according to a bankrate.com news release.

Fees have also dropped. Though origination fees dropped only one percent, title insurance and other thirdparty fees were down 12 percent from last year, according to the release. Fees, however, vary depending on the lender. Deseret News