10 questions to ask before choosing a mortgage

The homebuying process is full of question-asking, as you will want to interview for the right professionals to work with, such as your REALTOR® and mortgage broker. When it comes to choosing your mortgage, you should be asking some questions as well, like these 10: What is the interest rate? Your lender will offer you an interest rate based on the loan and your credit. The interest rate, along with the mortgage balance and loan term, will determine what you pay each month. What is the monthly payment? You will need to understand what your monthly payment is in order to create an accurate budget, and really determine…