Information about Lender:
- Does getting a good interest rate depends on excellent credit rating?
What are the different steps involved in the process of pre-approval?
How much time will it take to complete the process of pre-approval?
Is it allowed to Lock-In the interest rate while buying a home?
Till what time is the Lock-In best for?
Till what time is the Lock-In best for?
What will happen if the interest rate goes down before a deal is closed?
After approval of a loan, will you provide a written commitment?
What are the documents needed at the time of loan approval?
How much time does a loan takes to get approved?
How long will it take to close the loan after getting approved?
About Loan Process:
- If needed, can you process the loan faster?
Where is the mortgage loan processed?
What is the total time required to process a mortgage loan?
Can the Lock-in also be extended if closing gets delayed?
Are the latest updates on loan processing available?
How long does it take to get a loan approved?
Analyze your Financial Situation:
- Do you offer any special programs with lower interest rates or reduced closing cost for the first time buyers?
How much of a loan amount can be borrowed on a mortgage?
What can be done to fix the past credit problems?
What can be done to qualify for the required loan?
Points and Fees:
- Is the originating fee a part of the closing costs?
When can the Interest Rate and Discount Points be locked?
How long is the Lock-In period valid for?
What is the durability of the point's quote that was given by you verbally?
What will be the total of closing costs?
How much do you charge as junk fees?
How many days of interest are figured by you in prepaid?
Can any of the fees be negotiated at the time loan process?
What are the fees that need to be paid at the time of application?
Are the credit report fee and the appraisal fee needed to be paid at the time of application?
What will be the principle amount and its interest that needs to be paid every month?
Is there any extra fee that needs to be paid if the rate goes down?
Can the fixed rate be converted without refinancing, if yes what is the conversion fee?
Can a loan be pre-paid at any point of time?
Is there any pre-payment penalty associated with this loan?
Home Owner Insurance:
- Do you think that an individual inspection is required to rate the property?
Do you provide any premium discounts if homeowner's insurance are carried with you?
Does the Home owner insurance policy have any provision that covers personal property that is lost, stolen or damaged within the premises?
How much will the insurance company pay and for how long if the house is completely destroyed?
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