Negotiate Like a Boss: A Quick Guide To Reducing Your Closing Costs - MortgageDepot

Abstract

Did you know you also have a right to negotiate certain closing costs? Many borrowers don't realize this, and those that do are intimidated by the thought of telling a seller or a lender that they want to pay less. Closing Costs: What's Included? Closing costs vary widely by lender and loan type. Recurring closing costs are paid at closing and on a regular schedule afterward. Nonrecurring closing costs are paid only at closing and include lender fees, home inspection charges, and title fees. Negotiating With the Seller Some buyers successfully reduce their closing costs by approaching the seller. Negotiating With the Lender Another money-saving strategy is asking for a lender credit to put toward closing costs. Contact MortgageDepot Today! If negotiating closing costs with a seller or lender sounds complicated, don't despair! MortgageDepot's experienced loan officers will help you determine if negotiations make sense.