Closing Cost Reform: Long Overdue and Worth the Fight (Part 1)
The Stoop (NYU Furman Center)
APRIL 29, 2024
Historically, a 20 percent downpayment was the standard, against which buyer-paid closing costs were comparatively modest. But that 20 percent requirement comes from an earlier era. 8 The DOJ was involved behind the scenes and indicated at the time that it supported the proposed changes as adequate to restore price competition.
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