Buying a new home isn’t easy. It’s a prolonged process involving a lot of hours, commitment, and investment. The lengthy, expensive process involves putting money aside to gather money for a downpayment, as well as the additional sum of the closing cost. Let’s not forget to mention that the costs related to home purchasing have simultaneously increased.

Origination fees, appraisal fees and other costs have increased by hundreds within recent years. This is piled atop of closing costs, which is a part of every real estate transaction. Your home title company is responsible for printing checks to distribute pay to surveyors, attorneys, couriers, contractors, and brokers at closing. Also, if you had the property staged, the interior decorators should also be paid at closing. With that said, closing costs tend to vary by location. For example, Nevada has the lowest closing cost and Texas has the highest. Also, commission rates, messenger fees,  attorney fees, and recording fees are closing costs that are negotiable.

There are several ways to find a lower closing cost, including taking a thorough look at loan estimates, shopping around to save on services, and negotiating lenders fees. However, those aren’t the only ways to find lower closing costs.

  1. Consider a loyalty program to assist with closing costs. Depending on which banking institution you use when financing your purchase, your bank makes help with your closing costs. For example, Bank of America tends to provide reduced origination fees for its preferred reward customers.
  2. Veterans and servicemembers have closing-cost benefits. This fact is frequently overlooked, but these individuals tend to qualify for funds to assist with home purchasing. Additionally, these benefits aren’t solely limited to the VA loan, but other loans as well.
  3. Include closing costs in your loan. Because you’re already borrowing thousands of dollars, fold a few thousand more into the already hefty loan. Lenders tend to charge more for this, but it’s a concrete way to get your home with less cash upfront.
  4. Closing toward the end of the month is one of the simplest ways to reduce closing costs. There’s a per diem interest cost when scheduling a payment from the 5th to the 30th. Choosing the 28th means you would only have to pay two days of interest.
  5. As a closing cost credit, many loans allow sellers to contribute up to 6 percent of the sale price to the buyer. Many sellers commit to this tax-deductible expense as a way to seal the deal. This exchange is rare in some markets.
  6. Some join a union, such as AFL-CIO, in order to get closing cost discounts and rebates or up to $2,500 real estate transactions when securing a mortgage through a particular banking institution.

Do some research and chat with your neighborhood home title agency to learn other ways to lower your closing costs.

Assured Title Agency is a Denver, Colorado-based title insurance company dedication to provided the highest quality customer service and peace of mind when conducting complex real estate transactions. Be sure to visit our websites: and #titleinsurance #Denver #BeAssuredNow