Here are important mortgage questions you should ask your lender. 1. How much house can I afford? “Ideally, you should visit your lender before you visit your Realtor,” said Megan Coleman, loan.
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If the loan officer sees certain things that cause delays, you need to know about it so you can be prepared. 10. What are my payments with a fixed-rate mortgage and adjustable-rate mortgage? There are several different terms available for a mortgage loan. The 30 year fixed-rate mortgage is the most commonly used term.
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Mortgage loan officers face a challenge this year: With mortgage. So, ask yourself this: Why should borrowers do business with you over the.
It’s an ask. her a loan? Of course you want to help. But before you commit (or find yourself feeling flustered) grant yourself some time to take a beat and ask yourself these five questions..
To find a loan officer you trust, ask about fees and their longevity in the business. Even so, it’s a good question to ask, according to Jack Guttentag, a professor emeritus of finance at the University of Pennsylvania’s Wharton School who runs an informational website on mortgages called mtgprofessor.com.
Question: Hello Ask the Experts, hopefully you can help me. I am in. I interview a lot of branch managers and loan officers. I am finding more.
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Among questions for mortgage lenders, this one is important. The two basic types of mortgages are fixed and variable rate. A fixed rate has the same interest rate for the term of the loan, which might be 15, 30 or even 40 years. With a fixed-rate mortgage, your payments remain the same for the life of the loan.
So, it is essential to have good communication with your loan officer from the start and before you sign mortgage disclosures. But many home buyers end up signing their mortgage disclosures and other documents before asking many important questions about the home loan.
If you want to find the best loan for you, the Consumer Finance Protection Bureau recommends talking to at least three different lenders when shopping for a mortgage to compare loan options. Of course you’ll want to compare official Loan Estimates to see which loan makes most sense for you and your family, but you’ll also want to interview your contending lenders to see if you’re comfortable working with them.