{"id":322,"date":"2012-06-28T08:00:48","date_gmt":"2012-06-28T08:00:48","guid":{"rendered":"http:\/\/norrisbishoprealty.com\/staging\/?p=322"},"modified":"2014-12-17T08:52:23","modified_gmt":"2014-12-17T08:52:23","slug":"great-questions-to-ask-your-mortgage-lender","status":"publish","type":"post","link":"http:\/\/norrisbishoprealty.com\/staging\/great-questions-to-ask-your-mortgage-lender\/","title":{"rendered":"Great Questions To Ask Your Mortgage Lender"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"aligncenter wp-image-434 size-large\" title=\"Calculator leaned on a little house with red roof\" src=\"http:\/\/norrisbishoprealty.com\/staging\/wp-content\/uploads\/2012\/07\/Mortage-Lender-640x598.jpg\" alt=\"\" width=\"600\" height=\"560\" srcset=\"http:\/\/norrisbishoprealty.com\/staging\/wp-content\/uploads\/2012\/07\/Mortage-Lender-640x598.jpg 640w, http:\/\/norrisbishoprealty.com\/staging\/wp-content\/uploads\/2012\/07\/Mortage-Lender-300x280.jpg 300w, http:\/\/norrisbishoprealty.com\/staging\/wp-content\/uploads\/2012\/07\/Mortage-Lender.jpg 900w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/p>\n<p style=\"text-align: justify;\">Before you buy your home in Moultrie or Colquitt County, you\u2019ll almost certainly want to investigate the mortgage options available to you. Mortgages can be confusing particularly if it\u2019s your first time to take one out, so we\u2019ve put together a list of great questions to ask your lender:<\/p>\n<ul>\n<li>Can you offer both fixed-rate and adjustable mortgage loans \u2013 both have their advantages and it\u2019s nice to compare them side by side to work out what\u2019s best for you<\/li>\n<li>What is your lock in policy for guaranteeing the same rate and how long will that lock in last?<\/li>\n<li>Do you have float down lock protection in case rates drop significantly in the future after I\u2019ve been locked in? (Not so important at the moment when interest rates are at a minimum, but this can and will change)<\/li>\n<li>Are there any other fees associated with my loan? If so how much are they and when are they payable?<\/li>\n<li>Do you have any funds available for arranging second mortgages (if it\u2019s your first home this may not be relevant at the moment)?<\/li>\n<li>Are there any penalties for repaying my mortgage early, don\u2019t forget that in the US around 80% of mortgages are paid off early<\/li>\n<li>What is the grace period associated with my mortgage, a grace period is the amount of time your mortgage provider will allow you to be late with a payment before they impose a penalty<\/li>\n<li>What will happen if a payment is missed? This is very important some lenders are very strict in there action against late payers<\/li>\n<li>If I sell my home will the new buyer be able to assume the mortgage and will their payments be locked in at the same rates?<\/li>\n<li>Is there a points charge to arrange the mortgage \u2013 some lenders charge \u201cpoints\u201d for arranging the mortgage and a point is 1% of your loan value<\/li>\n<li>Does the lender require mortgage insurance? If so does the mortgage insurance only protect the lender or the home owner as well?<\/li>\n<li>Will the mortgage be managed and serviced locally or will this be sold on to another location? You should ask for a \u201cgood faith deposit\u201d in writing<\/li>\n<li>What are the closing costs in the entirety for your home purchase?<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">With these questions in mind you\u2019ll be able to effectively evaluate the mortgage for your new home in Colquitt County or Moultrie City, and don\u2019t forget we can help you find that perfect place for you to mortgage.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Before you buy your home in Moultrie or Colquitt County, you\u2019ll almost certainly want to investigate the mortgage options available to you. Mortgages can be confusing particularly if it\u2019s your first time to take one out, so we\u2019ve put together a list of great questions to ask your lender: Can you offer both fixed-rate and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":434,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[49,35],"tags":[65,312,17,66,47],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.4.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Great Questions To Ask Your Mortgage Lender<\/title>\n<meta name=\"description\" content=\"Mortgage be managed and serviced locally or will this be sold on to another location? 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