Joint Base Fort Lewis-McChord Washington Area Real Estate

Phil Sharp Broker/Retired Army 360-970-9977

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10 Questions to Ask Your Lender

Ten Questions To Ask Your Lender1) What are the most popular mortgages you offer?  Why are they so popular?

2) Which type of mortgage plan do you think would be best for me? Why?

3) Are your rates, terms fees and closing costs negotiable?

4) Will I have to buy private mortgage insurance?  If so, how much will it cost and how long will it be required?  (Note: Private Mortgage Insurance – PMI, is usually required if your down payment is less than 20 percent of the sale price.   However, most lenders will let you discontinue PMI when you’ve acquired a certain amount of equity by paying down the loan.)

5) Who will collect the monthly payments (loan servicing) on my loan?  The lender I work with to obtain financing or another company?

6) Do you require real estate taxes and homeowner’s insurance to be included in my monthly mortgage payment?

7) How long is the lock-in period, in other words, how long will my rate be guaranteed?  Will I be able to obtain a lower rate if interest rates drop after I have locked the rate in?

8) How long will the loan approval process take?

9) How long will it take to close the loan?

10) Are there any charges or penalties for paying the loan off early?

Remember to ask for a Good Faith Estimate, which will provide the proposed closing costs and monthly payment for each loan program you are considering.

Please don’t hesitate to ask if you have additional questions.  We are here to assist you with your quest of homeownership.

Click the link below for a Good Faith Estimate from a preferred local lender.

www.wardlendinggroup.com or  email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Mortgage Dept VA FHA Conventional Lending

  • 10 Questions to Ask Your Lender

    1) What are the most popular mortgages you offer?  Why are they so popular? 2) Which type of mortgage plan do you think would be best for me? Why? 3) Are your rates, terms fees and closing costs...

    Read More ...

  • A Word About VA Loans

    A VA home loan is a popular mortgage choice for eligible veterans who wish to purchase a home with NO down payment.  Although the Veteran’s Administration charges a VA funding fee to cover costs to...

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  • Getting A Home Loan

    Getting a home loan is really a simple process.  You can even apply via email or the web and have financing in place prior to your arrival. This makes shopping for a home quicker, less stressful and helps...

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  • Home Finance Mistakes You Can't Afford

    Most advice columns tell you what you should do, but just as importantly, there are some things you shouldn't do. Here are 10 frequent home finance mistakes that consumers make - and that you should...

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  • Lender Checklist

    What you need to provide your lender to apply for a Mortgage (requirements may vary depending on lender requirements): □ W-2 forms — or business tax return forms if you're self-employed — for the...

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  • They Said Interest Rates Wouldn't Change

    Didn’t the Government Say that Interest Rates Wouldn’t Change? Mortgage interest rates, to include VA Mortgage rates, have increased significantly over the past month.  Although the fed has stated...

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Contact Mike

Tell Him Phil Sent You...

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vamike@vnlending.com

1011 E. Main St., Ste. 303

Puyallyup, WA  98372

Office : 253-604-4700     

Fax :  253-904-8960

Cell :  253-686-2491

NMLS# 902369

Meet The Team at Veterans Lending Group

Brooke Villano
Branch Manager
Office: 253-604-4700
bvillano@vnlending.com
NMLS# 309717

Nicole Moore
Branch Operations Manager
Office: 253-604-4700
nmoore@vnlending.com
NMLS# 1078100

Network with Mike Villano & Veterans Lending Group

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Fort Lewis McChord AFB (JBLM) Homebuyer Tools and Education Video

Fort Lewis McChord AFB (JBLM) Area Info & Recreation Video

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