Before you being on your journey to getting a loan, here are ten questions to ask your mortgage broker to gain a better understanding of the lending process.

1. Which type of loan is best?

2. What is the interest rate and annual percentage rate?

3. What are discount points and origination fees?

4. What are all the costs?

5. Will the lender guarantee the Good Faith Estimate?

6. Do you offer loan rate locks?

7. Is there a prepayment penalty?

8. Are you equipped to approve loans in-house?

9. How much time do you need to fund?

10. What is the yield spread premium?

Still confused on what to ask or need more direction? Feel free to give us a call at 864-346-4116 to speak with Roger.