Friday, August 11, 2006

Average Closing Costs on the Rise

I was reading the news this morning instead of doing my job and stumbled across an article on a local TV station's website about the average cost of closing on a home. The article reads that it now costs over $3000 to close on a house in the United States. The study was based on large city zipcodes and a $200,000 mortgage. It's kind of amazing to me that these crooked mortgage company bastards are so clever that they have come up with 50 different small fees and costs that can amount to an average of $3000 at closing - across the United States. What makes it even more irritating for a first time homebuyer is that I don't know what the hell any of those fees mean so I can't even argue. I am starting to consider being a life time renter. It would be so much easier.