Top 10 Questions to Ask a Mortgage Broker

If you get some names from friends, colleagues or your real estate agent, you need to do your own due diligence first before you make a decision. Assuming that you are dealing with a well-respected, reputable broker or lender who can get you a competitive interest rate within reasonable closing costs.

How do you know who will do the best job for you? I suggest asking the following questions:

  1. How quickly do you return calls, e-mails and text messages?
  2. Do you have evening appointments available? Will you take calls after business hours and on weekends?  Can you come to our house ?
  3. What happens if I find a house over the weekend? Can you run scenarios and prepare a pre-approval letter on a Saturday or Sunday?
  4. Will you attend my loan signing when I buy a house?
  5. Can you provide us contact information from past clients and realtors, so we can ask about their experience working with you.
  6. Can you write a pre-approval letter stating all of my information has been verified and we are approved to get a loan?
  7. How long have you been in the business and is this your only, full time job?
  8. Are you a top producer in your company?
  9. How many lenders do you work with and if you have preferred broker pricing for best rates? 
  10. Do you give back to the community?