What Should I Ask A Potential Mortgage Lender

What Should I Ask A Potential Mortgage Lender

What Should I Ask a Potential Mortgage Lender?

1. What type of loans do you offer? What are the qualifying guidelines for each?

2. What is the interest rate and Annual Percentage Rate (APR)?

3. What’s the monthly payment going to be?

4. How large of a deposit do you need?

5. Is there a prepayment penalty?

6. What fees and costs will I have to pay? Can you estimate and explain them, as well as how much you’re going to make off the loan?

7. Do you offer Loan Rate Locks? If so, how much do you charge for them?

8. How long does it typically take for a mortgage to go through? Can you guarantee you’ll close on time?

9. Are you going to hold this loan or sell it?

10. WHAT ARE MORTGAGE OR DISCOUNT POINTS AND HOW DO THEY AFFECT MY LOAN?

11. WHAT ARE CLOSING COSTS? HOW MUCH WILL MINE BE?

12. WHAT IS ESCROW AND HOW MUCH WILL IT COST ME?


Julia Montalvo Headshot
Author:
Phone: 407-860-7657
Dated: November 20th 2019
Views: 136
About Julia: I'm a licensed real estate agent proud to be serving the Central Florida and the surrounding areas. ...

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