No matter how prepared you are going into an early meeting with your mortgage lender, there’s bound to be something you forget to ask. Everyone will have their own set of questions that pertain to their homebuying process, but there are a few that we encourage everyone to ask and get answered.

Today we’ll provide you with a list of questions that you can take into that next meeting when you’re trying to determine who to work with for your next mortgage. We’ll also share with you our answers for these so that you’ll know what to expect from Cross Country Mortgage.

With new inflation data in, we’ll also talk about what that means for mortgage rates along with the news on the debt ceiling from last month and Bill will tackle a pre-approval question to end the show.

Here’s some of what we’ll discuss in this episode:

0:00 – Intro

2:08 – Market update: inflation data & debt ceiling

6:46 – Main topic: Questions to ask your lender

8:10 – Question 1: If interest rates decrease, can you offer a lower rate after loan is locked in?

10:35 – Question 2: Will you be able to provide payment and cash to close numbers on homes we’re interested in?

12:18 – Question 3: Is the rate guaranteed?

16:21 – Mortgage mailbag: Does pre-approval hurt my credit?

QUOTABLE MORTGAGE MOMENT: