questions to ask a loan officer when buying a house

Questions to Ask Your mortgage loan officer You think you’re ready to join the two-thirds of American households who own their own homes. There is so much to learn – about home buying, about real estate agents, and most critically, about mortgages .

Buying your first home is exciting. you may not know what to look for when you walk into a house. You’ll be relying on your real estate agent to provide you with the right questions to ask. Plus, a.

8 Frequently Asked Mortgage Questions. The upside of rising home prices and a general housing shortage is that more people are sitting it out, which means lenders need a way to bring business back. In June, mortgage credit availability increased, with just one catch – it was offset by a decline in credit for government loans.

If you’ve decided to buy a home, what questions should you ask first. for a mortgage by submitting finance and credit information to your lender. Pre-approval is good for 90 days, so do this when.

If you’re considering refinancing, start by asking yourself four questions to evaluate. not be the best fit. Every loan program provides different rates, which sometimes require additional fees.

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When choosing homeowner’s insurance, ask your agent this You’ve already compared and have likely decided on a mortgage lender , which is why you’re in the market for homeowner’s insurance. This same comparison-shopping can be used to get quotes from and assess different insurers based on the types of coverage they offer.

Considering the practical applications that can come from engaging in a reverse mortgage transaction, an originator has to be ready for almost anything. Talking to different loan officers across.

As an example, if you are 62 and want to buy a house valued at. are higher upfront on a reverse mortgage, but if you save yourself $1,500 a month, I think it’s worth it in the long run," she adds.

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But when you’re the one buying a house. You can also ask sellers for help covering the closing costs, so you can use your cash to buy down your rate. This is a complicated area to explore with your.