15 Questions to Ask Your Lender

When you buy a home, you’re in it for the long haul. You’ll have a mortgage payment for 15, 20 or 30 years, so it’s smart to shop around to find the best mortgage lenders out there. Choosing a lender might seem like a no-brainer if you go with whoever quotes you the lowest rates and fees. On the surface, that seems like a win-win strategy. But the lowest rates and fees can’t make up for poor service or a lack of transparency. To get the lowdown on how to cut through lending jargon so you know exactly what you’re signing up for here are 15 questions to ask your lender.


1. What are the most popular mortgages you offer? Why are they so popular?  

2. What fees are included in a loan; and what fees will be due at closing? 

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

4. Do you offer discounts for inspections, homeownership classes or setting up automatic payments? 

5. Will I have to buy private mortgage insurance? If so, how much will it cost and how long will it be required? 

6. What are your escrow requirements? 

7. What bill-pay options do you offer? 

8. What would be included in my mortgage payment (homeowners insurance, property taxes, etc.)? 

9. Which type of mortgage plan would you recommend for my situation? 

10. Who will service this loan—your bank or another company? 

11. How long will the rate on this loan be locked in? Will I be able to obtain a lower rate if the market rate drops during the lock-in period? 

12. How long will the loan approval process take? 

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

14. Are there any charges or penalties for prepaying this loan? 

15. How much in total will I be paying over the life of this loan? 




Even if you’re just beginning to think about buying or refinancing a home, it’s wise to talk to a lender early on to learn how you can set yourself up for success when the time comes. The emerald coast is lucky enough to have several reliable lenders in the area. Need help navigating the real estate market? Connect with us so we can get you started on your real estate journey!

Give us a call or email us for a complimentary home evaluation!

P: 850.803.8633  |  E: debbie@soldinparadise.com

P: 850.865.3711  |  E: jagnew@destin30Abeaches.com

7 Tips for Buying a Vacation Home

1. Consider how you’ll use the home. 
Will it just be for family and friends, or do you plan to rent it as well? And realistically, how many times will you use it per year? 

2. Evaluate locations. 
Are there enough amenities and attractions to keep you — and renters — coming back here after year? 

3. Talk to the locals. 
What do they love about the area? What’s changing? And what’s it like during the off-season? 

4. Study local laws. 
If you plan to rent the home, local rules may restrict rental periods or cap the number of days you can rent each year. 

5. Calculate costs. 
Along with mortgage, insurance, property taxes, and association or amenity fees, plan for wear and tear. 

6. Talk to an accountant. 
This person can advise you on such issues as the tax implications of rental income and changes in federal tax laws that could impact deductions. 

7. Work with an experienced realtor. 
Pick someone who knows the community and who can recommend the other experts you want to consult. Consider agents with Resort & Second-Home Property Specialist (RSPS) certification as they have completed additional instruction to help homeowners like you. Our very own Debbie Agnew is one of those agents as she is RSPS certified! 

If you're looking to invest in a vacation home, let us know – we're here and happy to help.

Give us a call or email us for a complimentary home evaluation!

P: 850.803.8633  |  E: debbie@soldinparadise.com

P: 850.865.3711  |  E: jagnew@destin30Abeaches.com