Rick Brown Realtor Lake County IL

Mortgage Information

I have been helping my clients get the best available financing based on their idividual needs for over 30 years. If you need a recommendation, I will be glad to put you in touch with several different loan officers. You can call me, Rick Brown at 847-400-6018 or email me.

 

Mortgage Calculator

10 Questions to Ask Your Lender

Loan Amount:

Interest:

Years:

Annual Tax:

Annual Insurance:

 

Monthly Principle:

Monthly Tax:

Monthly Insurance:

Total Payment:

 

 
Mortgage Rates
 
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Be sure you find a loan that fits your needs with these comprehensive questions.

1. What are the most popular mortgage loans you offer?

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?

Used with permission from Real Estate Checklists & Systems ( http://www.realestatechecklists.com). 

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®Copyright 2005. All rights reserved.  www.REALTOR.org/realtor