Bloomberg, December 18, 2023, Borrowers Turned To Nonbank Lenders For Mortgages – And It’s Costing Them
Whatever the reasons for the disparities, higher fees can be a burden. “Closing costs are one of the biggest barriers to new homeowners,” says Jesse Van Tol, president of the National Community Reinvestment Coalition, a nonprofit group based in Washington. “Saving for a house is hard enough. When you are paying $5,000 more than other borrowers, it is a massive barrier.”
