09/12/2026
Ask your lender these four questions 👇
1. What is the annual percentage rate?
It is easy to focus only on the interest rate, but the APR gives you a better look at the total cost of the loan because it includes the rate plus certain fees. When comparing lenders, compare the APR too.
2. Can I make payments every two weeks?
Paying half of your monthly payment every two weeks adds up to 13 full payments each year instead of 12. That extra payment can help you pay down your mortgage faster and save on interest.
If your lender does not offer this option, ask whether you can make extra principal payments on your own.
3. Do you offer mortgage recasting, and what does it cost?
Recasting allows you to put a lump sum toward your mortgage balance. Your lender then recalculates the loan, which can lower your monthly payment.
This may be helpful if you have extra cash to put toward the loan but refinancing does not make sense. Just remember that not every lender offers it.
4. Can you send me a full closing cost estimate with every fee listed?
This helps you see exactly what you are being charged. It also makes it much easier to compare lenders, ask questions, and possibly negotiate a better deal.
Bonus question:
5. Do you have relationships with listing agents in the [your city name] area?
A lender with a strong local reputation can help make your offer feel more dependable. If the listing agent knows your lender communicates well and closes loans on time, that extra confidence could help in a competitive situation.
The right lender should be happy to answer all of these questions. Save this post so you have them ready when it is time to shop for a mortgage.
Save this before your next lender conversation.
