Closing Costs Are Negotiable

When buying a home, you might focus on the home's price and your mortgage rate. However, closing costs are also important. To complicate things, the lowest closing cost isn't always the best deal for you. Greg McBride from bankrate.com recently talked with Chuck Jaffee about closing costs on the Your Money podcast.

McBride tells us that closing costs are negotiable. Some items aren't (such as tax payments), but lender related closing costs are fair game. He also describes Bank of America's mortgage program that features no closing costs. Listen to the interview on the July 18th show from Feedburner (or download the MP3 audio file).

Further reading:

• Manage Your Closing Costs