There are numerous loan programs and government backed loans offered by a variety of lending institutions. Your lender will be familiar with many of these options; however, you should do your homework. Research which ones have special offers to find the one best suited for you. Here is a list of common questions to ask, as you interview and consider your lending options.

  •  Do you have "in house" underwriting? 
  •  What is your expected turn around time for approval?
  •  What are the current rates for the programs you work with?
  •  Are both fixed and adjustable rates offered?
  •  What are the other fees a lender may charge me?
  •  Is there a maximum limit on a rate change?
  •  Do you currently have any special offers?
  •  How much cash will I need to begin?
  •  Are there "points"? (ask lender to explain what that is)
  •  Can the term of a loan be extended?