Top Ten Questions to Ask Your Cedar Rapids Mortgage Lender!
There are wonderful lenders in town who specialize in different types of loans for different situations. For a complete list of the best of the best, contact me at 319-329-5988 and I'll put you in touch with Cedar Rapid's finest!
What mortgage loans can you offer me for my specific situation? Are these loans popular and advantageous for me in the long run?
Are the terms of your loans negotiable at any time, even before closing. In other words, if I suddenly realize that I didn't include closing costs in my offer, can we re-negotiate the loan to include this?
What is PMI and will I need it for my loan? Basically if you don't have 20% of the value of your home paid off, you will need Private Mortgage Insurance. Talk to your lender about costs and will it be required.
Who will be the care provider for the loan; your company, a bank?
Will the loan ever be sold to another company?
What are the requirements for escrow?
If I apply for a loan approval today, will I be ready to go tomorrow?
If I lock in at a fixed interest rate, how long is this lock, and can it be extended?
How long will the loan take to close; thirty days, less than thirty days?
If I win the lottery and want to pay my loan off early, are there pre-payment penalties?
These are the top ten questions you should ask your lender when sitting down with him/her for an initial discussion. I take financing for your home very seriously and I only work with lenders who get the job done. Call me today or email Christopher@skogman.com for more information.