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Mortgage 1 |
Mortgage 2 |
Mortgage 3 |
Mortgage 4 |
| Name of Lender: |
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| Contact Person: |
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| Date of Contact: |
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| Basic Loan Questions |
| Amount of Mortgage: |
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| Type of Mortgage (Adjustable rate, fixed rate, conventional, FHA, other): |
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| Minimum Down Payment: |
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| Loan Term (Length of loan): |
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| Contract Interest Rate: |
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| APR (Annual Percentage Rate): |
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| Points (Also called Loan Discount Points): |
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| Monthly PMI (Private Mortgage Insurance) premium: |
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| How long must I/we keep PMI? |
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| Estimated monthly escrow for taxes and hazard insurance: |
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| Estimated monthly payment (Principal, Interest, Taxes, Insurance, PMI): |
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| Application/Loan Processing Fee: |
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| Originating/Underwriting Fee: |
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| Lender/Funding Fee: |
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| Appraisal Fee: |
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| Attorney Fees: |
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| Document Preparation/Recording Fees: |
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| Broker Fees (Points, origination, interest rate add-on, other): |
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| Credit Report Fee: |
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| Other Fees (specify): |
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| Other Closing/Settlement Costs: |
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| Title Search/Insurance (for Lender): |
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| Title Search/Insurance (for me/us): |
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| Estimate prepaid amounts for interest, taxes, hazard insurance, payments to escrow: |
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| State and local taxes, stamp taxes, transfer taxes: |
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| Flood determination: |
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| Prepaid PMI (Private Mortgage Insurance): |
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| Surveys and home inspections: |
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| Total Fees and Other Closing/Settlement Cost Estimates: |
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| Additional Questions |
| Can any of the fees or costs be waived? |
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| Is there a prepayment penalty? |
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| If yes, how much is it? |
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| How long does the penalty period last (in years)? |
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| Are extra principal payments permitted? |
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| Is the lock-in agreement in writing? |
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| Is there a fee to lock-in? |
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| When does the lock-in occur (at application, on approval or another time)? |
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| How long will the lock-in last? |
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| If the rate drops before closing, can I/we lock-in at a lower rate? |
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| ARM (Adjustable Rate Mortgage) Questions |
| What is the initial rate? |
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| What is the maximum the rate could be next year? |
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| What are the rate and payment caps each year and over the life of the loan? |
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| What is the index that the lender will use? |
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| What margin will the lender add to the index? |
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| Credit Life Insurance Questions |
| Does the monthly amount quoted include a charge for credit life insurance? |
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| If yes, does the lender required credit life insurance as a condition of the loan? |
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| How much does the credit life insurance cost? |
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| How much lower would my/our monthly payment be without the credit life insurance? |
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| If the lender does not require credit life insurance, and I/we still want to buy it, what rates are available from other insurance providers? |
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| Additional Questions/Notes |
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