Before You Choose a Mortgage Ask Your Lender These Questions

Questions to Ask Before You Choose a Mortgage

Find out what you need to know about asking your mortgage lender the right questions.

When it comes to buying a home, ensure that you’ve done all your homework. Be smart about your home financing and do plenty of research. With various factors that influence your loan, it’s important to compare several rates from different lenders and ask lots of questions. Check out which questions to ask your lender so that you’re best able to get what you need from your home finances.

What do I need to know about interest rates?

When choosing an interest rate, you have the option to choose either a fixed or an adjustable rate. Each rate comes with benefits, but it’s important to learn more about how each loan works before you commit to it. Ask plenty of questions about locking in the rate or how the rate will change so that you have what you need when it comes to your mortgage.

Does my mortgage include points?

Before committing to a loan, discuss whether or not your quote includes points, which are fees paid to the lender. Have your lender breakdown the components of your loan so that you’re better able to understand what you’re getting.

How does my down payment affect my loan?

Your mortgage loan is determined by various factors, including your down payment. Talk to your lender about how your payment affects your loan.

When it comes to buying a new home, ensure that your finances are in order by asking lots of questions. Get the help that you need when it comes to your escrow process. Dedicated service paired with top-tier escrow services are a must when closing an escrow deal. Contact Brighton Escrow for assistance answering all of your questions! Our Hermosa Beach, CA team, is committed to helping you make the most of your escrow process.

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