11 Critical Questions to Help You Choose The Right Mortgage.

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11 Questions To Ask BEFORE Getting A Mortgage

Here’s What You’ll Learn Today

• Why the best mortgage means more than just the lowest “interest rate”
• The most important questions you need to ask yourself beforetalking to your mortgage agent
• How to get the mortgage product that best fits YOUR needs and circumstances
• How to ensure you’re getting the best mortgage with the best rates and terms available
• And much more!

11 Questions To Ask BEFORE Getting A Mortgage

Who is John Smith?

• Use this slide to describe info about you such as, years in the business, certifications, education, licenses, hobbies and interests.
• List your personal mission statement

11 Questions To Ask BEFORE Getting A Mortgage

As an independent mortgage agent, I work for you NOT the banks

11 Questions To Ask BEFORE Getting A Mortgage

The checklist I'm about to outline is just one of the ways I can help you get a better deal on your next mortgage, refinance or renewal.

11 Questions To Ask BEFORE Getting A Mortgage

Before you even pick up the phone to call a lender, give some thought to your...

• Financial situation
• Short term goals
• Long term goals

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11 Questions To Ask BEFORE Getting A Mortgage

No lenders can provide the best mortgage for you without understanding your needs. And they’ll never understand your needs unless you can explain them clearly and specifically.

11 Questions To Ask BEFORE Getting A Mortgage

Your First Step: Sit down with your spouse and consider some of the following issues:

1. How long are you planning to live in this home?
2. How are your finances likely to change over the next few years?
3. Which are you more comfortable with: mortgage payments that always stay the same OR payments that rise and fall with the Prime rate?
4. How soon would you like to be mortgage-free?
5. When will your children be entering college or university?
6. When are you thinking of retiring?

11 Questions To Ask BEFORE Getting A Mortgage

OK, now that you have your needs and goals in mind, you're ready to start searching for a mortgage.

11 Questions To Ask BEFORE Getting A Mortgage

Today’s mortgage market is very complex, with more choices than ever before, innovative new features being introduced every day, and unexpected conditions and fees hidden in the fine print. � 

11 Questions To Ask BEFORE Getting A Mortgage

The best way to protect yourself is to go through every item on the following checklist with each lender BEFORE you go any farther....

11 Questions To Ask BEFORE Getting A Mortgage

Question #1: Will you give me a detailed outline of the costs associated with my mortgage?

11 Questions To Ask BEFORE Getting A Mortgage

Question #2: Can you give me an estimate of my closing fees?

11 Questions To Ask BEFORE Getting A Mortgage

Question #3: What’s the minimum down payment for this loan?

11 Questions To Ask BEFORE Getting A Mortgage

Question #4: Would you recommend a closed mortgage or an open mortgage?

11 Questions To Ask BEFORE Getting A Mortgage

Question #5: Is there a prepayment penalty on this loan?

11 Questions To Ask BEFORE Getting A Mortgage

Question #6: What documents will I need to provide?

11 Questions To Ask BEFORE Getting A Mortgage

Question #7: What are the qualifying guidelines for this loan?

11 Questions To Ask BEFORE Getting A Mortgage

Question #8: How long does it take to process a loan?

11 Questions To Ask BEFORE Getting A Mortgage

Question #9: What are some of the things that could slow the approval process?

11 Questions To Ask BEFORE Getting A Mortgage

Question #10: What if my information changes before the loan is funded?

11 Questions To Ask BEFORE Getting A Mortgage

Question #11: Can I contact any of your existing clients?

11 Questions To Ask BEFORE Getting A Mortgage

So there you have it. Use this checklist for each lending institution or mortgage consultant you contact, whether you speak over the phone or in person.

11 Questions To Ask BEFORE Getting A Mortgage

I recommend using my "Mortgage Selection Checklist" when evaluating your options.

11 Questions To Ask BEFORE Getting A Mortgage

If you have the time, energy and patience to do this research on several different lenders, you’ll likely end up with a reasonably good mortgage.

11 Questions To Ask BEFORE Getting A Mortgage

But if you want the ABSOLUTE BEST mortgage for your specific situation and goals, why not get professional help?

11 Questions To Ask BEFORE Getting A Mortgage

As an independent mortgage agent, I have access to dozens of lenders and hundreds of mortgages AND I know exactly what to look for.

11 Questions To Ask BEFORE Getting A Mortgage

After analyzing your needs, I can shop the market for the rate and features that will achieve everything you want, at the lowest possible cost.

11 Questions To Ask BEFORE Getting A Mortgage

And since I’m normally paid by the lender, there’s NO CHARGE to you for my expert, objective service and advice.

11 Questions To Ask BEFORE Getting A Mortgage

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11 Questions To Ask BEFORE Getting A Mortgage