Questions to Ask Your Mortgage Lender

An EBA will advise you to shop for a loan until you find the right mortgage for you. Here are some questions that will help you determine which lender and loan is best for you.

1. Which type of loan is best for me?
2. What is my interest rate and annual percentage rate?
3. Will there be origination fees?
4. What are ALL the costs?
5. Can I lock into a rate?
6. Are there any penalties for pre-payment?
7. Will you guarantee GFE?
8. How much time do you need to fund my loan?
9. What is a yield spread premium?
10. Do you handle your own underwriting?