Tuesday, February 07, 2006

Mortgage Questions

Top 9 questions to ask when applying for a mortgage:

What is the interest rate on this mortgage?
What closing costs will be charged?
When can I lock in the interest rate?
Is there a prepayment penalty on this loan?
What is the minimum down payment?
What are the qualifying guidelines for this loan?
What documents do I have to provide?
How long will it take to process my application?
What might delay the approval of my loan?

Source: bankrate.com
Source: NAR's Information Central.Updated Feb. 2006

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