Mortgage Checklist
In order to be sure that you are getting the best mortgage possible for your situation please ask your mortgage lender to help fill out this checklist. You can also ask any lender that you are getting a second opinion from to fill out this checklist as this will ensure that you have the competitive advantage. Also, remember not to discuss the offer you got from the first lender when you are seeking to find the best deal out there.
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Mortgage A |
Mortgage B |
Basic Features for Comparison
Fixed-rate annual percentage rate -the cost of your credit as a yearly rate (includes interest & other charges) |
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ARM Annual Percentage Rate
Adjustment Period
Index Used And Current Rate
Margin
Initial Payment Without Discount
Initial Payment With Discount (if any)
How Long Will This Discount Last?
Interest Rate Caps: Periodic/Overall
Payment Caps
Negative Amortization
Convertibility/Prepayment Privilege
Initial Fees And Charges
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Monthly Payment Amounts
What will my monthly payment be after 12 months if the index rate:
Stays The Same
Goes Up 2%
Goes Down 2%
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