Avoid upfront closing costs and keep more of your money in your pocket.
Believe it or not, most closing costs offer the ability to negotiate how you pay them. You may even have the ability to reduce your overall closing costs substantially, depending on the mortgage you qualify for. Newfi can help you review all your loan options to make sure you get the best rate at the lowest cost.
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Closing costs are fees that lenders charge borrowers for lending them a mortgage loan. These fees are typically 3-6% of your total mortgage loan, depending on the loan you qualify for. Closing costs are made up of a number of different fees that are incurred during the purchase or refinance process (appraisal, home title, loan origination fees to name a few).
How Do I Reduce Closing Costs?
Frequently Asked Questions
Typical closing costs will range from 3 to 6% of the home purchase price. These closing costs will vary depending on the type of loan you qualify for, the state you live in, and other factors. To estimate what your closing costs will be, talk to an experienced Newfi Loan Advisor today for a no-cost, no-obligation quote.
Reducing closing costs is a great way to keep more cash in your pocket today. If you’re able to eliminate closing costs entirely or even reduce them severely, you’ll be able to save the money you originally had set aside for closing.
- You will likely see higher monthly payments if you choose to incorporate closing costs into monthly mortgage payments.
- If you decide to opt for a higher interest rate, you’ll ultimately pay more interest over time. If you’re not interested in moving within the next 5 years, this option will likely cost you more over time.
Your exact rates depend on the interest rate you qualify for and the term you select. Contact us to review your options and calculate your payment.
Because everyone has their own unique situation, we recommend speaking to a loan advisor about your options as your first step. Go to newfi.com/get-started or fill out the form on this page for a free consultation with one of our licensed loan advisors to learn about what documentation and qualifications you may need!