6 Vital Questions To Ask Your Lender
When buying a home at the Lake of the Ozarks , there are several factors to take into consideration. One of the things is your mortgage. With all of the lending opportunities available, it's easy to become overwhelmed and just go with the first choice without even asking questions about your mortgage payment responsibilities. That's why the Fran Campbell Team has come up with a list of questions that you should be asking your lender before signing off on a mortgage commitment. Take a look: 1. What is the interest rate? The first thing you should ask your lender for is a direct interest rate quote, as well as the corresponding annual percentage rate for the loan. The interest rate, along with your mortgage balance and loan term will determine your real monthly payment. A loan with a smaller balance or lower interest rate will make for smaller monthly payments. If you're not sure about the interest rate your lender has quoted you, don't hesitate to shop around wi