What are the discount and origination points on the mortgage?
Lenders may charge prepaid mortgage interest points in order to lower your interest rate. Some charge origination points that are no benefit to you. Find out how many points you will have to pay to get the quoted interest rate and what type of points they are. • What are the closing costs for the mortgage? There are many fees associated with mortgages. These are for the various services provided by the lender and other parties involved in the purchasing process. You will need to know what these fees are as soon as possible. Lenders are required by law to provide you with a written good faith estimate of closing costs within three days of receiving your loan application. • Can you lock in an interest rate and what will it cost? Interest rates are constantly changing. There is a chance that your interest rate will fluctuate between the time you apply and the time you close on the transaction. If you want to be certain that the rate will not go up, you will need to lock the rate in for a
