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Updated over 10 years ago, 08/15/2014

User Stats

18
Posts
3
Votes
Samuel Maclean
  • Real Estate Investor
  • Westbrook , ME
3
Votes |
18
Posts

Questions for lenders

Samuel Maclean
  • Real Estate Investor
  • Westbrook , ME
Posted

I am getting ready to call around to banks to find out what they offer for loans.  I am looking for loans for foreclosures.  I have downpayment money and possible money for renovations  Here is a list of questions (in no particular order) What else should i ask?

What loan products do you have?

203k

FHA

Homepath

Homestyle

What is the interest rate/apr on morgages?

Are you a portfolio lender?

What do closing costs look like with you?

Is there a prepayment penalty?

What is minimum dp for each loan?

What are the qualifying guidelines?

How much are you paid?

What am i paying in points?

What are the monthly payments?

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