questions to ask a loan officer on mortgage

What are the best questions to ask a mortgage lender before you lock in a home loan? If you want to find the very best mortgage for your needs, it pays to not automatically go with the very first.

typical credit score for mortgage 8 Best Loans & Credit Cards (400 to 450 Credit Score) – 2019 –  · Although the number of people with sub-500 fico credit scores has dropped over the last decade, it’s still a fairly significant 4.7% of US consumers, or around 14 million adults. And while having a credit score between 400 and 450 is above the minimum – FICO.

Ask if there are other loan programs that you might qualify for that don’t require mortgage insurance. Then ask the lender what your options are. The answer may be just, "Make a bigger down.

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Four Questions to Ask Your Home Construction Loan Officer. Home construction loans are more complicated than a traditional mortgage loan.

How did you get your start doing mortgage loan officer work, and what career moves did. I read through all the comments but still doesnt seem to answer my questions.. I had a good friend tell me about his new job working for a Mortgage.

One way to do that is to ask potential lenders as many questions as possible.. church's outreach if you're struggling to make the mortgage payment every month .. A loan officer may tell you there will be no problem with renewing your loan.

The next most important question is the amount of closing costs. They play a role in the affordability of a loan too. Getting a loan with a low-interest rate may lose its excitement if the closing costs are through the roof. Ask the loan officer for a breakdown of the closing costs. Also, don’t be afraid to ask if there’s any room for negotiation.

fha loan after foreclosure An FHA Loan is a mortgage that’s insured by the Federal Housing Administration. They allow borrowers to finance homes with down payments as low as 3.5% and are especially popular with first-time homebuyers. FHA loans are a good option for first-time homebuyers who may not have saved enough for a large down payment.

Mortgage Loan Officer Interview Questions "When interviewing for a position as a mortgage loan officer, the interviewer will want to assess your communication and decision making skills as well as your knowledge of mortgage and loan policies.

[Read: What New Mortgage Rules Mean for Homebuyers.] Here are some questions to ask before choosing a loan officer. 1. What is your fee? You won’t pay the loan originator’s fee directly because it’s.

When securing a loan for mortgage. and trust. Ask enough questions to make sure you like and trust your lender! Jason O’Quinn is president of Petra Lending Group in Dallas. PLG is a comprehensive.

I took an informal poll from my lender pals to find out from their underwriters exactly what mortgage borrowers and their.