Page 28 - Book6E

COMPARE LENDERS (continued)
Questions:
What will I have to pay in fees? Application or loan processing fee Origination or underwriting fee Lender or funding fee
Appraisal fee
Document preparation and recording fees
Broker fees
Other fees
Are any of the application fees refundable if I don’t get the loan?
How many years do I have to repay the loan? Is this an installment loan or a line of credit? Is there a balloon payment?
What are the total closing costs?
If I use a broker, how and how much will he or she be paid?
What is the penalty for late or missed payments?
What is the penalty if I pay off or refinance the loan early?
Does the loan include optional credit insurance?
Can I afford this loan?
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20 Home Equity Loans