How To Lower Closing Costs

Dated: 05/02/2019

Views: 111

Image title

Closing costs help facilitate the sale of a home and both buyers and sellerspitch in. Some closing costs can be paid before the home is officially soldand others are paid at the end. 

However, closing costs aren’t set into stone and they can be negotiable. Youcan ask your real estate agent or lender with help in estimating your actualclosing costs. Look over everything to make sure all the numbers are rightand then you plan accordingly in how you’re going to lower them. 

Loyalty Programs 

Some banks offer assistance to buyers when they use them to help pay forthe purchase. It’s a way for a bank to reward loyal customers. 

Closing at the End of the Month 

Schedule your closing at the end of the month so you don’t have to pay theper diem interest for so many days. 

Get Multiple Quotes 

Get estimates from different lenders because you’re looking for the bestpackage of closing costs and interest rates. There might be something betterout there. 

Junk Fees 

There may be some fees a lender charges that may be negotiable, such asorigination fee, processing fee, or application fee. Make sure to ask if whatyou are being quoted is the best they can offer. 

Title Costs 

Sometimes title insurance and settlement are bundled together. You may beable to find a title and settlement company that is less expensive. 

Negotiate With the Seller 

You can try to negotiate with the seller in paying for some of your closingcosts. Buyers can ask for credit or to cover lender expenses during the offerand negotiation process.

Blog author image

Jason McLaughlin

Jason has lived in the Golden and Arvada area for more than 25 years attending Golden High School and then later gaining a Bachelors of Science Degree in Organizational Leadership and Emergency Manage....

Latest Blog Posts

Holiday Events In Castle Rock

'Tis the Season to be Jolly! If you're looking for some festive fun, Castle Rock has plenty of events this holiday season to keep you feeling in the spirit! For details about some of the events

Read More

The Meadows In Castle Rock

The Meadows in Castle Rock is a Highly desired neighborhood that offers it's residents easy access to Denver, Colorado Springs, Trails, Parks, upscale Grocery options, restaurants and night life

Read More

Down Payments Explained

A down payment is the amount of cash a home buyer puts toward the price of anew home. It accomplishes a few things; first it reduces the amount of money youneed to borrow and it reduces the risk the

Read More

Did You Move

We communicate so much over text, phone, apps and emails that giving people your physical mailing address and writing letters is rare.  Generally,  in today's world, it takes a special

Read More