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I don't think they had you in mind when they wrote these regulations.

Sorry, I guess I wasn't clear. These estimates of closing costs get done for everyone, at least in the 4 states I've written a contract in. It is kind of hard to be surprised by what you need to spend. In my experience it tends to be over estimated, since it is easier to cut you a check for the excess at closing than to be sure the buyer will have extra funds on hand. And every mortgage I've gotten recently comes with the same kind of estimate of costs. You have to ignore what is already given out to be surprised...not that some people don't do just that.

Do you think they would have qualified as high cost mortgages?

Some would probably would have qualified as high cost mortgages given the fixed price costs involved in buying with or without a mortgage as Dave mentioned, and the low cost of the house. Don't know.

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