How Can a Lender Protect Home Buyers’ Interests?
Ask these questions to find a lender that will advocate for you, perhaps adding services that protect home buyers’ interests.
- Will you be at closing to answer additional questions about my mortgage obligations and the loan documents I am required to sign?
- What processes are in place if you or your company make a mistake? For example, what are your policies about fee reimbursement?
- If you sell my loan, how might that process benefit or harm me, especially related to follow-up services?
- How can you help me maximize the tax deductions of my closing expenses?
- When might you recommend that I refinance my mortgage to reduce costs and/or to enhance equity?
- How aggressively will you work to help me avoid sub-prime interest loans?
When looking for a lender, make sure you cover each of these additional question categories: