Smart Questions to Ask a Home Lender

Recent news stories about so-called ‘subprime' loans illustrate that it's a good idea to shop carefully for a loan, especially one whose payment amount won't abruptly increase and jeopardize your ability to make monthly payments and possibly lead to foreclosure.
If you're shopping for a loan, here are some important things to ask a prospective mortgage broker:

What will his total compensation be from you and the lender for the loan he helps you to get?

How will her compensation vary depending on what type of loan you choose or which lender makes the loan?

Is he willing to work for a flat fee agreed to in advance and to rebate to you any additional compensation he receives from the lender?

How many lenders does she work with on a regular basis? Do any of them account for a majority of her business?

If you are thinking of purchasing a home, we can help you. Our preferred mortgage adivsor, Kevin Nelson, from Discover NCW Mortgage, would be happy to help you select a loan that will be best for your needs.

If you are considering a refinance, a home evaluation can give you a good idea of what your home is worth and we can give you a general price range right online based on recent sale prices of comparable homes in your area. For a more precise estimation of value, we can drop by for a quick review of your home.

Please phone or email us for more information. We are happy to help you, your family and friends.