African-American borrowers pay an additional $425 for their loans. Latino borrowers pay an additional $400. (The average fee for all borrowers was $3,133 on loans that averaged about $105,000.) • Borrowers who live in neighborhoods where adults have only a high school education pay $1,160 more for their loans than borrowers who live in neighborhoods where adults have a college education. • Loans made by mortgage brokers are more expensive than those made by direct lenders by about $600. • Sources of loan complexity such as points and seller contributions to closing costs (which can make
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Loans and mortgages.
