1. What is the total amount I am borrowing?
2. In addition to that amount, what do I have to pay in points?
3. What do I have to pay in fees?
4. Are the application fees refundable if I don’t get approved?
5. What is the interest rate?
6. What is the APR?
7. Is the interest rate fixed over the length of the loan or does it change?
8. If the interest rate will change, when, how often,
by how much and how high can it go?
9. What is the total monthly payment?
10. How many years do I have to repay the loan?
11. Are there any pre-payment penalties? If so, what are they?
12. Does the interest rate go up if I’m late on a loan
payment or miss a payment?
13. Do I have to pay a late fee if my payment is late?
How much is the fee? When is it charged?
14. Do I have to pay interest on late fees?
15. Do monthly payments cover property taxes
and homeowners insurance?
16. Can I refinance the loan with another lender? |
