Savings Tips Fees for some standard items, such as appraisal, credit report and title insurance should be almost the same at every lender. The same goes for payments to local governments, such as documentation stamps and recording fees. A bank or mortgage company may be willing to drop some of the fees if you opt out of a service. For instance, they may overnight documents back and forth for faster approval. If you are not in a hurry, you can ask that the documents be sent by regular mail and the overnight charges be dropped. Watch out for “junk fees” or additional charges. Most mortgage programs include them, but you should be able to negotiate them down or eliminate them. Other Ways to Save on Costs Try to close your mortgage near the end of the month. Because all mortgage loans are due on the first of the month, you will have to pay interest from the day you close until the end of the month. You can avoid or greatly reduce prepaid interest due by closing the last day of the month or near that date, and save yourself hundreds of dollars. As part of the sale contract, you can negotiate with the seller of the property to help pay for some of the closing costs, points or other fees. Plan ahead with your mortgage lender. Don’t wait until the day of closing to try to reduce costs.