Can Mortgage Costs Be Negotiated?

The cost of a mortgage is probably the single biggest debt people incur. It is a big financial outlay and must be repaid, However, there are actually mortgages that can be negotiated to help.


  • Advanced home payment. Advances are self-financing portions of the mortgage. The Bank does not finance 100% of the home purchase.  At present there is a minimum down payment of 30% of the value of the home to be purchased. However, you can ask your bank if there is an advance loan available which would be lower than this figure.
  • Notary costs. This fee is given for notary services and other parties involved in the legality of the purchase, land ownership and so on. There is no standard fee, so you can ask if a discount is possible.
  • The cost of mortgage fees. Search carefully different banks, as from time to time discounts are offered for promotions.
  • Fire insurance premiums.  Banks are required to protect their collateral from the risk of fire. To that end, the guarantee needs to be protected with fire insurance until the loan is completed. Debtors have to pay the fire insurance premiums and although it is worth trying to negotiate this fee, generally they have fixed rates.
  • Life Insurance Premium. Life insurance is needed to protect both banks and creditors family. If the creditor dies, the insurance will pay off the remainder of the loan. Most banks require this, but some banks do not obligate the lender to do so. Why? First, security can be sold when the creditor died.


Second, the credit can be taken over by other creditors who want to continue the home loan. If the cost of your life insurance premium is very high, you could ask for a discount on this through your bank.