Questions To Ask When Choosing a Lender!

Dated: 05/21/2020

Views: 109

Loan terms, rates, and products can vary significantly from one company to the next. When shopping around, these are a few things you should ask about.

Questions To Ask When Choosing a Lender!

General questions:

What are the most popular mortgages you offer?

Why are they so popular?

Are your rates, terms, fees, and closing costs negotiable?

Do you offer discounts for inspections, home ownership classes, or automatic payment set-up?

Will I have to buy private mortgage insurance?

If so, how much will it cost, and how long will it be required?

What escrow requirements do you have?

What kind of bill-pay options do you offer?

Loan-specific questions:

What would be included in my mortgage payment (homeowners insurance, property taxes, etc.)?

Which type of mortgage plan would you recommend for my situation?

Who will service this loan—your bank or another company?

How long will the rate on this loan be in a lock-in period?

Will I be able to obtain a lower rate if the market rate drops during this period?

How long will the loan approval process take? How long will it take to close the loan?

Are there any charges or penalties for prepaying this loan?

How much will I be paying total over the life of this loan?

Blog author image

Kenneth Manesse

Helping you experience something new in Las Vegas that's guaranteed. Real Estate with less stress!....

Latest Blog Posts

Trusting Your Real Estate Agent?

Buying a home in Las Vegas can be a daunting task, but a good real estate agent can be incredibly valuable –especially as it relates to finding the right home and helping to negotiate price.

Read More

Shopping for a perfect night’s sleep in your new home?

You’ve got more options than ever when mattress shopping these days with no shortage of brick-and-mortar and online-only retailers to choose from. Here are the factors you should consider when

Read More

How to Plan for Organic Food on a Budget

Organic food usually tastes better, and is better for you, but it can also be very expensive compared to non-organic products. Organic food can cost nearly 50% more, thanks to the extra labor

Read More

Is Las Vegas in a Sellers Market for September 2020?

Home sales continue to outstrip supply and the Las Vegas Market has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if

Read More