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Questions You Should Ask Before Selecting A Mortgage Lender
Before visiting a prospective mortgage lender, it would be a good idea to write down pertinent questions so that you will be able to decide whether or not this lender is appropriate for you. The following are basic queries that are suggested, in one form or another, by most lending institutions. 
1. What will my interest rate be?
Although most lenders will charge almost identical rates, they can vary by a wide margin, especially in instances where the borrower does not have a perfect credit history. This question should be at the forefront of everyone’s list. 
2. Can I lock in this interest rate?
Most institutions allow a borrower to lock in the interest rate for a fee. 
3. If my loan is approved, will the interest rate ever change during the life of the loan?
In the past many people thought they were getting a good deal when they obtained a sub-prime rate, only to find out later there was an explosive increase when interest rates suddenly rose. 
4. How much will the closing costs be?
The total amount for closing costs varies by institution, but it is a good idea to know this amount in order to plan the rest of your budget. Lenders provide this amount ... more

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