Finance Questions to Ask Your Las Vegas Lender

10 Questions to Ask Your Las Vegas Lender

Be sure you find a mortgage loan that fits your needs with these comprehensive questions for the purchase of your Las Vegas Real Estate.

1. What are the most popular mortgage loans you offer for Las Vegas Real Estate?

2. Which type of mortgage plan do you think would be best for us? Why?

3. Are your rates, terms, fees, and closing costs negotiable?

4. Will I have to buy private mortgage insurance? If so how much will it cost and how long will it be required? NOTE: Private mortgage insurance usually is required if you make less than a 20 percent down payment, but most lenders will let you discontinue the policy when you’ve acquired a certain amount of equity by paying down the loan.

5. Who will service the loan? Your bank or another company? 

6. What escrow requirements do you have?

7. How long is your loan lock-in period (the time that the quoted interest rate will be honored)? Will I be able to obtain a lower rate if they drop during this period?

8. How long will the loan approval process take?

9. How long will it take to close the loan?

10. Are there any charges or penalties for prepaying the loan?

Here some of the most basic, but very important questions to ask of your mortgage broker for the purchase of your Las Vegas Real Estate.

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