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Questions to ask every lender

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Anonymous
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Questions to ask every lender

I was given the following list of questions to ask lenders when I meet with them for mortgage preapproval:
 
1.  Rate
2.  Closing costs
3.  Down payment requirement
4.  Preapproval
5.  Local servicing
6.  Tax escrow
7.  Prepayment penalty
8.  PMI
9.  Grants
 
I know that this list isn't actually a list of questions, but that each of these things should be discussed with prospective lenders.  Does this list seem to cover all of the important things I should be asking about?  Is there more to add to the list, or are some of these things not needed?
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1 REPLY 1
ShanetheMortgageMan
Super Contributor

Re: Questions to ask every lender

That is a pretty good list... also keep in mind if you do more talking than your loan officer does, it's time to choose a new loan officer.
Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Southern California and lending in all 50 states
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