But, that is my obsessive nature I suppose. And, the fact that I always want a client to know going in what's going on so there are no scares at the end of escrow!
Read this today as the things buyers forget to ask their lender:
1) What's your APR, Annual Percentage Rate? ~ Come one.....please tell me you ask? Well, you better now! It could mean big bucks in the long run! Don't get confused from one lender quote to another without asking the actual APR.
2) Impounds? What's that? ~ If you want to be paying your property taxes and insurance monthly instead of annually, could be a great scenario for you. Particularly if you aren't a good budgeter!
3) Can you get penalized for paying the loan off early? ~ I love paying extra on my mortgage. Makes me feel like I'm saving tons of money...which I am! You can get penalized on some loans. ASK!
4) What NOT to do until you close escrow! ~ Oh goodness, ask any of my buyers....pop quiz! DON'T GO SHOPPING OR CHANGE JOBS!!!
5) Who do I pay my mortgage payment to? ~ First month, oh yes, likely who you took the loan out via. 2nd? Hah, look for your loan to be sold....yessiree! Pay attention to those notes that come in the mail after you close escrow!
Okay, I think most of my clients would get an A+ on this quiz!
What about you? How'd you score?