4 Questions To Ask Your Lender

Kayla Gephart

by Kayla Gephart

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Many first-time home buyers head into the home buying process without having a strong background on the subject. Buying your first home or possibly, buying a home for the first time in a few years, comes with a lot of new information. It is important to make sure the mortgage you are getting is the best option for you. Below is a list of questions you may want to ask:

1. What products do you offer?

The best news about lending institutions is that they likely offer more than one product for obtaining a mortgage. Here, at JSSB Mortgage Services, we offer numerous loan options such as VA, FHA, first time homebuyer programs and multiple conventional loans. Each program caters to a borrower’s individual financial needs.

2. What is the interest rate?

This is a great question. Quoting an interest rate is not as easy as just pulling a number off of a rate sheet for every borrower that inquires. The rate you have depends on the loan program and/or credit score. Comparing your interest rate between multiple lenders is a great option, but make sure you are also verifying the costs associated with those specific rates.

3. What costs are associated with this loan?

Your lender may not be able to give you an “exact number” for this question, but they are required to give you an estimate of what costs are associated with your loan. The costs can include points, origination fees, appraisal fees, inspections, etc.

4. Are there any programs to assist with closing costs?

Many borrowers can feel very uneasy about the home buying process and the costs associated with it. This is a BIG purchase! There are actually a few programs to aide you in obtaining the funds needed for closing. Your lender will be able to guide you to the program that works best for you and fits your situation. Remember: you may be able to ask for seller assist to help you as well.

There are no bad questions when it comes to making a large decision such as a mortgage. Ask your loan officer as much as you can when you looking for financing. We are here to help make the mortgage process easy and seamless for you. We value your business. Please call or visit us to for a consultation to discuss and review all of your options!

Disclaimer: You should not place undue reliance on any forward-looking statements.  These statements speak only as of the date of this blog article, even if subsequently made available by the Jersey Shore State Bank on its website or otherwise.  Jersey Shore State Bank undertakes no obligation to update or revise these statements to reflect events or circumstances occurring after the date of this blog article.

Kayla Gephart

Kayla Gephart

Kayla Gephart has been a member of the Jersey Shore State Bank family for over 4 years. She currently works within the JSSB Mortgage Services division as a Xinnix Certified Originator.