Buyers

Questions to Ask Your Mortgage Lender

The mortgage business is highly competitive with many loan options to choose from. Before selecting a lender, or a loan, here are some questions you should be asking…

  • What types of mortgages are available?
  • What are the interest rates and annual percentage rates?
  • What are the origination fees and discount points?
  • What guidelines are used to qualify for this loan?
  • Are there any other costs related to the loan?
  • Is there a pre-payment penalty?
  • What documents will I need to provide?
  • How long will it take to process my loan application?
  • Will my loan be sold after the closing?
  • Will you guarantee the Good Faith Estimate?
  • Do you offer rate locks? And, if so, for how long?

Getting answers to these questions will help you fully understand all the terms and conditions of your mortgage.

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