Screen Shot 2022-03-29 at 12.13.41 PMLoan terms, rates and products vary from one lending company to the next. During the home buying process, questions are sure to come up, but if this is your first time applying for a mortgage, you may be unsure of what to ask when choosing a lender. We've put together a list of general and loan-specific questions to kickstart the mortgage loan application conversation. 

Loan Specific Questions

  1. What would be included in my mortgage payment?
    • i.e. homeowner's insurance, property taxes, etc
  2. Who will service this loan - your bank or another company?
  3. 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?
  4. How long will the loan approval process take?
  5. How long will it take to close the loan?
  6. Are there any charges or penalties for prepaying this loan?
  7. What documents will I need to provide for my loan?

General Questions

  1. What mortgage option would be best for my specific situation?
  2. Do you offer mortgage points?
  3. Will I have to buy private mortgage insurance?
    • If so, how much will it cost and how long will it be required?
  4. Do I need an escrow account?
  5. Am I able to buy down my interest rate?
  6. What credit qualifications do you require?
  7. Do you offer pre-approval or pre-qualification?
    • What is the difference?
  8. Am I eligible for any grants or government assistance?

The Mortgage Relationship Managers at Heartland Bank will guide you through the home buying process step by step. We'll weigh the advantages and risks of purchasing a home, calculate what you can afford, get you pre-qualified, and build a loan solution personalized to you.

Download these questions for your loan application meeting!

download our guide

Sarah Taubenheim

Sarah is the Media Specialist at Heartland Bank. She graduated from Nebraska Wesleyan University with a degree in Communication Studies. Sarah enjoys spending time with her family and friends and organizing and decorating her home.

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