Welcome
to Blue Ridge
Georgia Real Estate
Questions to Ask If
You Are Considering
a Fixed Rate Loan
1. Interest rate. ~
2. Total cost. ~
3. Annual percentage rate.
4. Length (repayment term) of loan.
5. How long is the rate quote guaranteed?
Have them explain their lock-in policy.
6. Is the loan assumable? If yes, under
what conditions.
7. Is there a pre-payment penalty? If yes, explain.
8. Is PMI coverage required? If yes, explain details including initial
premium and renewal charges
plus how to get rid of it.
9. What will the payment (P&I) be?
10. What fees, if any, do you pay at application?
When are the other fees paid?
11. Will the monthly payments include escrow payments? Taxes? Insurance?
12. Will this lender consistently do what is promised.
13. How long will the process be?
