I know this isn't all of questions you should ask but these are what I asked from my broker:
1. Ask how much home you can afford. Get a preapproval letter for the amount so you can start making offers.
2. Ask for a Good Faith Estimate which includes an initial interest rate, what your mortgage payment will likely be including PMI, property taxes, and home owners ins, (bring an average of the property taxes on some homes you are interested in to get a more accurate escrow amount & also look at the HOA dues on the homes that you have averaged property taxes on and add that into your mortgage payment.
3. Ask about the different programs you may qualify for and the differences between them and the pros and cons..
4. Call ahead of time and ask if there is any paperwork you can bring to get the process started like 2-3 years of W2s, bank statement, retirement account statement, if you filed BK bring your discharge papers, and paystubs.
5. Ask if he could recommend a realtor for you if you don't already have one.
6. Ask about his experience in the broker business,
7. Have him estimate your tax refund per year given the write off of interest on the home. Divide that by 12 and deduct it off of your monthly mortgage payment to see how much you would really be paying in a year.
8. Based on the program you are most interested in, ask what your out of pocket expenses are likely to be at closing.
9. Ask what your DTI is based on the home price amount you qualify for. Calculate your expenses before hand to determine what DTI you are most comfortable with so that your broker can list a home price range you would be most comfortable with.
1. Ask how much home you can afford. Get a preapproval letter for the amount so you can start making offers.
2. Ask for a Good Faith Estimate which includes an initial interest rate, what your mortgage payment will likely be including PMI, property taxes, and home owners ins, (bring an average of the property taxes on some homes you are interested in to get a more accurate escrow amount & also look at the HOA dues on the homes that you have averaged property taxes on and add that into your mortgage payment.
3. Ask about the different programs you may qualify for and the differences between them and the pros and cons..
4. Call ahead of time and ask if there is any paperwork you can bring to get the process started like 2-3 years of W2s, bank statement, retirement account statement, if you filed BK bring your discharge papers, and paystubs.
5. Ask if he could recommend a realtor for you if you don't already have one.
6. Ask about his experience in the broker business,
7. Have him estimate your tax refund per year given the write off of interest on the home. Divide that by 12 and deduct it off of your monthly mortgage payment to see how much you would really be paying in a year.
8. Based on the program you are most interested in, ask what your out of pocket expenses are likely to be at closing.
9. Ask what your DTI is based on the home price amount you qualify for. Calculate your expenses before hand to determine what DTI you are most comfortable with so that your broker can list a home price range you would be most comfortable with.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! 
Last App: 4/5/13 Gardening until July 2014