You may have numerous questions about mortgages and the home purchase process. But before you even choose the mortgage company you work with, you need to ask the right questions to help you evaluate that company.

Below, we go over some questions we recommend you ask. As you do, pay close attention to the responses you get. Does the company answer your questions quickly? Are their agents knowledgeable, friendly, patient and transparent? How the questions are answered can be as important as the responses themselves.

6 FAQs to Ask Your Mortgage Company

1. How large is your network of lenders? Ask the Indiana mortgage company how extensive its network of lenders is. If there is no network, then you are dealing with a lender, rather than a broker. We suggest working with a broker, because they can shop around for you to find you the most competitive rates. The larger the broker’s network, the more deals they may be able to find for you.
2. What types of mortgages do you offer? In particular, pay attention to any specializations the mortgage company has—particularly if you have very specialized needs yourself. For example, if you are self-employed, ask them whether they offer bank statement loans. If you are a veteran, ask them if they can connect you with a VA mortgage.
3. What are the closing costs? The company may not be able to tell you your exact closing costs in advance, but they should be able to give you a general estimate. They should also be able to give you a breakdown of their own fees.
4. How quickly can you close? If you have a tight deadline for buying a home, you need to make sure that the company you work with is likely to be able to close in time for your needs.
5. What is the mortgage process like? Ask what the steps are in the mortgage process, and what will be expected from you along the way.
6. When are you available, and how can I reach you? Find out if the company is available 5 days a week or 7 days a week, and what hours you can reach someone at. Find out what contact methods they offer. Can you call? Email? Text? All three?

Buy a Home or Refinance in Indiana

Grandview Lending Inc. is a mortgage broker based in Indianapolis. We work with homebuyers and homeowners throughout IN, and have a large network of lenders. If you are ready to ask us your questions and find out how we can help you quickly buy a home or refinance, please give us a call at (317) 255-0062 to schedule your mortgage consultation.