I'm purchasing a home and I want a 30-year fixed rate. When looking for a lender, besides the interest rate, what other question do I need to ask?
2007-06-03 15:26:44 · 3 answers · asked by Austin B 3 in Business & Finance ➔ Renting & Real Estate
These pags should help you tremdously
http://www.mkemortgage.net/content/questions_to_ask_your_mortgage_broker.htm
http://www.mkemortgage.net/content/questions_to_ask_your_lender.htm
2007-06-03 15:30:27 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The major one is interest rate, but another one is how many *(%) are sold after closing. In other words, how many loans are sold to other lenders. Try to find a lending institutiion that keeps most loans under its own name.pp
2007-06-03 23:04:37 · answer #2 · answered by ttpawpaw 7 · 0⤊ 0⤋
You need to ask about closing costs (obtain a truth-in-lending good faith estimate), pre-payment penalties (if any), and late fees (some come with hideous added charges).
2007-06-03 22:57:49 · answer #3 · answered by godged 7 · 0⤊ 0⤋