Courtesy of Darren McShane, REALTOR®

Ten Questions to Ask Your Lender

Be sure you find a loan that fits your needs with these comprehensive questions.

1. What are the most popular mortgage loans you make? Why?
2. Which type of mortgage plan do you think would best for us? Why?
3. Are your rates, terms, fees, and closing costs negotiable?
4. Will I have to buy private mortgage insurance? If so how much will it cost and how long will it be required? NOTE: Private mortgage insurance is usually required if you make less than a 20-percent downpayment, but most lenders will let you discontinue the policy when you’ve acquired a certain amount of equity by paying down the loan.
5. Who will service the loan? Your bank or another company?
6. What escrow requirements do you have?
7. How long is your loan lock-in period (the time that the quoted interest rate will be honored)? Will I be able to obtain a lower rate if they drop during this period?
8. How long will the loan approval process take?
9. How long will it take to close the loan?
10. Are there any charges or penalties for prepaying the loan?

Used with permission from Real Estate Checklists & Systems, www.realestatechecklists.com.

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Contact Me

No one likes to fill out forms online.
(I generally don't fill them out myself!). If you do, I promise that your information will not be shared.  If you still don't want to fill out the form, thats fine.  Just give me a call instead.  My direct number is 410-468-4604.  I look forward to being the Baltimore Real Estate agent you choose, and making your dreams of homeownership (or selling for a great price) come true. 
Best,  Darren.

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Type of Home:	Single-family Multifamily Town-Home Condo Land Commercial Investment Residential Patio-Home
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