Questions to ask mortgage broker/bank

I'm going to call numerous banks and mortgage brokers in the city where I match and am wondering what questions to ask them. Does anyone have a list of questions or know of a website that provides a checklist to follow?

http://www.steve-hatfield.com/mort_faq.htm

http://homebuying.about.com/od/findingalender/tp/LOques.htm

http://www.bankrate.com/brm/news/real-estate/BuyerGuide2004/10-questions.asp

http://www.corp.ca.gov/outreach/resource_pubs/mort20quest.pdf

http://www.naeba.org/loan/faqs.htm

http://homebuying.about.com/od/findingalender/tp/LOques.htm

Some of these questions are relevant once you decide to go with them but make sure you read some of the other mortgage threads. Sometimes brokers aren't the way to go ... extra fees and the such.

VuDOo said:

I'm going to call numerous banks and mortgage brokers in the city where I match and am wondering what questions to ask them. ?

Click to expand...

Why are you calling them? Why don't you ask them the answer to that question?

Just kidding. I assume you're trying to get the best deal you can on a mortgage. Remember that they will all lie to you on the phone to get your business. It is almost impossible to get quotes from various banks/brokers that you can use to compare them because the rates change on a daily basis (sometimes more often.) So if you don't get a hold of someone on the same day as someone else, you're comparing apples and oranges.

If you go with a broker, consider using an "upfront mortgage broker." If you go with a bank, ask if they are willing to give you an upfront statement of expenses. Learn more at mortgageprofessor.com.