|
Complete HASSLE-FREE access to the New Hampshire real estate and Massachusetts real estate Multiple Listing Service (MLS) Systems, with full property sheets and property addresses.
|
|
|
10 Questions to Ask Your Lender
Be sure you find a loan that fits your needs with these comprehensive questions.
-
What are the most popular mortgage loans you offer?
-
Which type of mortgage plan do you think would be best for us? Why?
-
Are your rates, terms, fees, and closing costs negotiable?
-
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 usually is required if you make less than a 20 percent downpayment, but most lenders will let you discontinue the policy when you’ve acquired a certain amount of equity by paying down the loan.
-
Who will service the loan? Your bank or another company?
-
What escrow requirements do you have?
-
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?
-
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 the loan?
Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2005. All rights reserved.
|
|