Lender Questions

Here is a list of questions to ask a lender to find the best loan options.​

1. What will my 30 year rate be? (you will have to make a loan application to find out)

2. What is the APR Rate? (this is important because it tells you what fees they are charging you)

3. What rate lock options do you have?

   • What is the cost?

   • Do I have to pay for this upfront?

   • When should I lock in my rate?

   • Do you have any rate float down options?

4. How much is an appraisal?

   • Does the cost change depending on the purchase price?

   • When do I have to pay for the appraisal?

5. If needed, can I pay extra to expedite the appraisal?

   • If so, how much does it cost?

   • When would I have to pay for this?

6. Can I pay off PMI up front?

   • If so, how much does it cost?

7. Can I buy down my rate?

   • If so, what are my options?

   • How long would I need to live in the house to break even?

8. What is unique about your service?

9. How will your service be better than another lender?

10. Do you have any special rate programs right now or coming soon?

11. Is there anything else I should know?