Buying a home or investment property can be overwhelming.
To help make the process easier, here is a list of 14 questions to ask your lender:
1. How fast can I get pre-approved a loan?
2. Is the loan guaranteed?
3. What is the guarantee?
4. When is the rate locked-in?
5. Will you give me the locked rate in writing?
6. How long is the rate locked-in for?
7. Do you offer a rate float down and when? (A rate float down will protect you if you lock in a loan and the rates drop).
8. Do you guarantee your fees?
9. Are you related or get paid by the realtor or their broker?
10. Do you offer a ZERO cost loan?
11. How long have you been in the business and with this company?
12. Do you have another job?
13. Do you own a home and for how long?
14. Do you underwrite/approve the files in-house or does my file go to another location?
To know why these questions are important, and my answers feel free to contact me.