06/19/2026
Top 10 Questions to Ask Your Mortgage Lender
Choosing the right lender is just as important as finding the right home. Before committing to a loan, make sure you understand your options and the full cost of borrowing.
1. How much home can I afford?
Understand your purchasing power and monthly payment range.
2. What loan programs do I qualify for?
Ask about Conventional, FHA, VA, USDA, and any local assistance programs.
3. How much down payment will I need?
Many buyers are surprised to learn they may not need 20% down.
4. What interest rate can I expect?
Rates vary based on credit, loan type, and market conditions.
5. What will my estimated monthly payment be?
Make sure it includes principal, interest, taxes, insurance, and any HOA dues.
6. What are my closing costs?
Ask for an estimate of lender fees, title fees, escrow fees, and prepaid expenses.
7. Are there any down payment assistance programs available?
Many first-time buyers qualify for programs they don't know exist.
8. How long does the loan approval process take?
Understanding the timeline helps you plan your home search and closing.
9. Can I lock my interest rate?
Find out when and how long you can secure your rate before closing.
10. What could prevent my loan from being approved?
Ask about potential issues so you can avoid surprises during underwriting.
The more informed you are before starting the home-buying process, the more confident you'll be when it's time to make an offer. A good lender should be willing to answer your questions, explain your options, and help you choose the loan program that best fits your financial goals.
