-
What are
the most popular mortgage loans you make? Why?
-
Which
type of mortgage plan do you think would be best for
us? Why?
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Are your
rates, terms, fees, and closing costs negotiable?
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Will
I have to buy private mortgage insurance? If so how
much will it cost and how long will it be required?
NOTE: Private mortgage insurance is usually required
if you make less than a 20-percent down payment, but
most lenders will let you discontinue the policy
when you’ve acquired a certain amount of equity by
paying down the loan.
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Who will
service the loan? Your bank or another company?
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What
escrow requirements do you have?
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How long
is your loan lock-in period (the time that the
quoted interest rate will be honored)? Will I be
able to obtain a lower rate if they drop during this
period?
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How long
will the loan approval process take?
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How long
will it take to close the loan?
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Are
there any charges or penalties for prepaying the
loan?
