current mortgage rates atlanta

Get the Best Mortgage Deal: Questions to Ask Your Mortgage Company


When you're ready to buy a home, it's important to understand the mortgage process. There are a lot of moving parts to a mortgage including the current mortgage rates atlanta, and if you're not careful, you could end up paying more than you have to. That's why it's important to clarify things with your mortgage company before you start the process. 

Things you need to clarify beforehand:

Before you start working with mortgage companies, there are a few things you need to clarify. 

  1. First, you need to make sure that you are clear on your financial goals. What are you trying to achieve by buying a home? Are you looking to build equity, or are you simply trying to get a roof over your head? 
  2. Once you have a clear understanding of your goals, you can begin to look at different mortgage options. There are fixed-rate mortgages and adjustable-rate mortgages, and each has its own pros and cons. 
  3. You'll also need to decide how much of a down payment you're willing to make. The size of your down payment will affect the interest rate you qualify for and the monthly payment you'll be responsible for. 
  4. Once you have all of this information, you'll be ready to start talking to different mortgage companies and comparing their offers.

Here are a few things you should ask about and why:

  • What are the current interest rates?

Interest rates can change daily, so you'll want to make sure you're getting the most up-to-date information. Your mortgage company should be able to give you an estimate of what the current interest rates are.

  • What are the fees associated with the loan?

There are a lot of fees that can be associated with a mortgage loan, and you don't want to be caught off guard by them. Be sure to ask your mortgage company about any and all fees before you agree to anything.

  • What is the loan term?

The loan term is the amount of time you have to pay back the loan. The most common loan term is 30 years, but you may be able to get a longer or shorter loan term based on your situation. Be sure to ask about the loan term so you can make the best decision for your needs.

  • How long will it take to process the loan?

The mortgage process can take a while, so you'll want to be sure you're prepared for it. Ask your mortgage company about how long it will take to process the loan so you can plan accordingly.

  • What are the requirements for pre-approval?

If you're not sure if you're ready to buy a home, you may want to get pre-approved for a mortgage loan. This will give you an idea of how much you can borrow and what your payments will be.

Parting Note:

By getting answers to these questions, you'll be in a better position to negotiate a good deal on your mortgage. You'll also avoid any surprises down the road. So take the time to clarify things with your mortgage company before you start the process. It could save you a lot of money in the long run.