4 questions you should ask your lender

Reel

Jun 25

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Unlock the Key to Mortgage Confidence! 🔑💰 Before you sign on the dotted line, make sure you're armed with the right questions for your lender. Here are 4 crucial inquiries to guide your conversation:

🔑 What loan type suits my needs best

Evaluate the pros and cons of each loan type with your lender to determine the best fit for your financial situation and real estate needs.

🔑 Do I qualify for down payment assistance programs?

Inquire with your lender about available assistance programs if you're concerned about down payment expenses. They can recommend suitable options and assist you through the application process.

🔑 What will the Annual Percentage Rate (APR) be?

Understand the true cost of your mortgage by considering the APR, which encompasses all embedded fees. Compare APRs from different lenders to identify the most cost-effective option for the same payment rate.

🔑 What is my monthly payment?

Gaining clarity on your monthly mortgage payment is a crucial aspect of the transaction. Additionally, inquire about any prepayment penalties associated with early mortgage repayment, ensuring there are none, particularly if you plan to sell or refinance your home.

Don't leave your home-buying journey to chance! Take charge and ensure you're making the best financial decisions for you and your family.

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