U.S. Department of Housing and Urban Development, Office of Policy Development and Research, May 2008
Abstract:
This study presents findings on how much borrowers pay in closing costs when they buy a house, how much these costs vary, and factors to which the variation is related. The analysis uses data from a national sample of 7,560 FHA-insured, 30-year fixed-rate home purchase loans. Data were collected on how much borrowers paid for lender or broker services, title services, and real estate agent's services, and linked to information on borrower and loan characteristics, including loan amounts, interest rates, credit history, income, borrowers' race and ethnicity, and the racial composition and educational attainment in the borrower's neighborhood. The analysis focuses in turn on fees paid to lenders and mortgage brokers, to title companies, and to real estate agents.
Keywords: HUD, HUD USER, FHA, mortgages, lending
Accepted Paper Series
Date posted: February 11, 2009
; Last revised: February 11, 2009
Suggested Citation
Woodward, Susan E., A Study of Closing Costs for FHA Mortgages (May 2008). U.S. Department of Housing and Urban Development, Office of Policy Development and Research, May 2008. Available at SSRN: http://ssrn.com/abstract=1341045
Download
Facebook
Twitter
Digg
Del.icio.us
CiteULike
