Loan Estimate Challenges

Loan Estimate Challenges

Virginia’s Biggest LE Challenges

Virginia is one of the few states to levy specific grantor taxes based upon a property’s purchase price. The state also requires deed taxes, which are paid by the purchaser, as well as mortgage taxes assessed by both the state and county where the property is located and which are based upon a tiered schedule.

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Loan Estimate Challenges

Vermont’s Biggest LE Challenges

The recording fees in Vermont are scaled by the size (length in page count) of each security instrument (mortgage), conveyance instrument (deed), or other recordable sent to the county for recordation.

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Loan Estimate Challenges

Alaska’s Biggest LE Challenges

Easily the nation’s largest state at 663,300 square miles, Alaska is larger than the next three largest states (Texas, California and Montana) combined. That also means that the statewide recording fees, which are uniform, cover the largest array of land in the country.

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Loan Estimate Challenges

Rhode Island’s Biggest LE Challenges

Throughout the state of Rhode Island, recording fees are scaled by the size (length in page count) of each security instrument (mortgage), conveyance instrument (deed), or other recordable sent to the county for recordation.

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Loan Estimate Challenges

Oregon’s Biggest LE Challenges

Oregon is one of only a few states in which the title insurance rate is promulgated, meaning all title insurers are required to charge the premium rates set by the state or agency overseeing the regulated rates, and no discounting or variation from the promulgated rates is permitted.

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Loan Estimate Challenges

New Mexico’s Biggest LE Challenges

New Mexico is a state in which title insurance rates are promulgated. Accordingly, title insurance premiums are governed by the New Mexico Office of Superintendent of Insurance. Rates are adjusted state wide, regardless of the identity of the title insurance provider.

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Loan Estimate Challenges

New Hampshire’s Biggest LE Challenges

Well-known for its feisty state motto, “Live Free or Die,” New Hampshire’s closing fee requirements are unsurprisingly straightforward. 

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Loan Estimate Challenges

Maine’s Biggest LE Challenges

One of the most straight-forward of states when it comes to LE and closing cost complexities, Maine assesses recording fees statewide, on a scale determined by the size (length in page count) of each security instrument (mortgage), conveyance instrument (deed), or other recordable sent to the county for recordation.

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Loan Estimate Challenges

Connecticut’s Biggest LE Challenges

Connecticut is one of the nation’s 22 states or districts that require an attorney’s involvement in residential real estate purchase transactions.

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