Are Texas Home Mortgage Fees Really Highest in U.S.?

Home Mortgage Fees

According to a survey by Bankrate, Texans pay more in home mortgage fees than any other state in the U.S.

The study, which ranks closing costs for loans including lender origination fees and other charges typically associated with obtaining a mortgage, showed that Texas has the highest fees across all 50 states. That’s a sharp increase from placing 13th last year, as Texans are paying an average of $3,046 to get a $200,000 mortgage. Compare that with the $2,265 Bankrate says Nevadans pay. Or the $2,366 you’ll be charged for a comparable loan in Tennessee. New Yorkers pay $2,892 on average

“New mortgage regulations are the biggest reasons why closing costs went up over the past year,” said Holden Lewis, a senior analyst at Bankrate. “The good news is that some lenders have not increased fees.”

But are these figures necessarily true? Jump for more perspective …