However, your lender can answer many other questions about the mortgage. Here are a few questions to ask your lender when buying a home: Is the mortgage loan fixed-rate or adjustable? A fixed-rate mortgage will generally last for up to 30 years. The interest rate will stay the same, ...
lenders charge origination fees, which are upfront fees charged for processing a mortgage loan application. These fees are sometimes referred to as "lender fees," and they are generally between 0.5% to 1% of the loan amount. Ask your lender about the specifics of both discount points and the...
Let’s examine some questions to ask a mortgage lender before preapproval. They will go a long way in understandinghow to get a mortgage. 1. What Documents Will I Need to Get a Loan? One of the most important questions you will ask your loan officer or mortgage broker is what documents...
with interest rate cuts imminent, is one of those times. So if you're looking to buy a home or refinance your existing one, make sure to ask about mortgage points, adjustable-rate options and the length of time a mortgage rate lock lasts with your lender. The answers to each question ...
Andrew Couchman Shows How to Get the Best DealBuying a home, one of our largest financial commitments, is, for most, made possible only by borrowing money in the form of a mortgage. If you have a mortgage, here are 10 questions to ask your mortgage lender.Couchman, Andrew...
To help you get all of the information you need throughout the home buying process, here are the top questions to ask a mortgage lender.
Questions To Ask When Choosing A Mortgage Lender Asking the right questions is pivotal in selecting a mortgage lender. This section provides a comprehensive list of key inquiries designed to empower you with the necessary insights to make an informed decision that aligns with your financial goals an...
You can find a mortgage lender from referrals, conducting research online and by visiting local mortgage companies in your area. A good starting point is to reach out to family and friends who have gone through the process and ask for a few referrals. Some may prefer to go with recommendatio...
Money tip:Financial institutions sometimes offer lender credits to help lower the amount of cash due at closing. Be aware, though: These credits can push up the interest rate on your loan, which means you’ll ultimately pay more. Always ask questions if you don’t understand certain fees or...
Unless you can buy a home entirely for cash, finding the right property is only half the battle. The other half is choosing the best type of mortgage and thebest lender. You'll likely be paying back your loan over a long period of time, so it's important to find one that meets your...