What are the top questions I should ask my lender when applying for a mortgage loan?

  • What is my interest rate that will be used to calculate my monthly payments?
  • Will the interest rate change over the life of the loan?  If an adjustable rate loan, what is my index, margin and rate cap? What is the adjustable rate period?
  • How many points will I be paying?
  • When will you lock-in the interest rate?
  • What are the closing costs and other fees?
  • What documentation will you require?
  • Can I pay the loan off early?
  • How long will it take to close the loan?
  • What might delay the process?
  • What are the required payment terms, such as sending back a coupon with a check or arranging an automatic withdrawal from your bank?

For loan program details and to find out if you qualify, contact us today at 888-488-3807 or go to www.OneTrustHomeLoans.com.

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