How to Reduce Your Mortgage Closing Costs

Househappy —  August 14, 2013 — 1 Comment


In a recent blog post, loan officer Dan Green addressed the rising mortgage closing costs nationwide and how to reduce what you’ll owe at closing:

It’s getting more expensive to get a mortgage.

According to’s 2013 Mortgage Closing Cost Survey, today’s typical mortgage applicant pays 6 percent more in origination and third-party fees as compared to 2012. Last year, costs had dropped seven percent.

For today’s home buyers and refinancing households, rising closing costs change the math of getting a mortgage. It’s helps to be prepared, and to know how zero-closing cost mortgages can improve your mortgage shopping.

So what is a mortgage closing cost? 

Mortgage “closing costs” are fees consumers pay to start a new mortgage, and can be grouped into two categories:

  • Organization/lender charges: Any fees paid in conjunction with your loan’s origination including line-items from your settlement statement which may include an application fee, a rate lock fee and/or origination points.
  • Third Party charges: Any fees paid to parties other than your mortgage lender including the costs of your appraisal, the cost of your credit report, and title company settlement costs.

How can I convert my mortgage into a zero closing cost mortgage? 

  • You can pay your costs with cash at closing.
  • You can add your closing costs to your loan balance (for refinances).
  • You can waive your closing costs via a zero-closing cost mortgage.

This post can be found in its original form on The Mortgage Rate



From start to finish, Househappy redefines the modern homeownership experience by providing solutions for home search and maintenance. Sometimes life can distract us from proper home upkeep. That’s why we created Househappytrax, a technology tool designed to simplify home management by storing your home’s DNA. We send a trained professional to gather 250+ points of data specific to your house. The app features document storage, seasonal to-do lists and reminders, a maintenance and improvements calendar, discounts on home products and services, and you can even find trusted home services providers in your area -- all in one convenient location, accessible on any device.

One response to How to Reduce Your Mortgage Closing Costs

    Prudential Indiana Realty August 19, 2013 at 9:16 am

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