Home > Personal > Personal Lending > Mortgage > Mortgage Resources > Glossary > Credit Credit November 9, 2021 A lender may reduce the actual amount of the closing costs by a credit in order to offer more competitive fees.You Might Also Like: Living QuartersSpring Maintenance Checklist for Your Home All Things CommunityHoli-days of Giving 2022 Everyday MoneyGiving Back During the Holiday Season Living QuartersYour Top Mortgage Questions Answered Living QuartersHow to Understand Mortgage Language