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 QuartersFirst-Time Homebuyer’s Playbook: 4 Steps to a Successful Offer Everyday MoneyBank Holidays: Understanding Their Impact on Deposits and Transactions Living QuartersMortgage Lending for Veterans at Bank Five Nine All Things CommunityReviewing Random Acts of Kindness 2023 Everyday MoneyWhat are ACH Payments and How Do They Work?