I remember when we were in the process of purchasing our house there were several things I had read as for cutting down on some of the costs of the mortgage.
1) The first thing I remember is that if you could put down 20%, this would remove the PMI. Otherwise it does at a few hundred dollars to your mortgage.
2) If you could have them add the mortgage tax into your mortgage, this will save you from ending up in a situation later where you did not plan for your taxes. When the tax bill comes it is a huge amount and you have not made provisions to pay.
3) There has always been something said about make a bi-weekly payment program. This way it is split up over two portions.
4) In the same vein, there is also the 13th mortgage monthly payment at the end of the year. This helps reduce future mortgage principal balance and interest.
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