1. Can my interest rate go up over time? and by how much and how often?

2. Can my principal and interest payment go up over time? By how much and how often?

3. Can my mortgage balance go up, even if I make all payments in full and on time?

4. Will any scheduled payment exceed the normal monthly payment?

5. Will my regular monthly payment cover only interest at any point during the mortgage term?

6. Will my montlhy payment include escrow payments (taxes, insurance, etc.)? If not, will I pay a fee for not including escrow payments in my monthly payment?

7. If I choose to provide the lender with less than complete documentation of my income or assets, will I pay additional costs?

8. Will I have to pay a fee if I pay off the mortgage in full ahead of schedule: Will I have to pay a fee if I pay more than the required monthly payment?

9. Will I pay an additional fee if my payments are late? how much?

10. What is my initial interest rate and what are my settlement charges?

*more details on the 10 Questions in next blog post