Home Loan/Mortgage Comparison Check List

Home Loan/Mortgage Comparison Check List

Whenever you try to compare anything you’ve really got to make sure that you have all of the details in order to make an informed decision. Check these details with every mortgage lender you approach. There are lots of things to consider when you’re mortgage shopping, so here’s a bit of a checklist for you to make sure that you’ve thought of everything (that is, of course, hoping that I’ve remembered everything). Oh well, here goes . . .

Name of Mortgage Lender:

Contact Name:


Amount of Mortgage:

Type of Mortgage – Fixed rate, adjustable rate etc.

Minimum amount of down payment needed:

Length of loan:

Interest rate of contract:

APR (Annual Percentage Rate):

Points (aka Loan Discount Points):

Monthly PMI premiums (Private Mortgage Insurance):

Length of time obligation to keep PMI:

Estimate of monthly escrow for hazard insurance, taxes etc:

Estimate of monthly payments for interest, principal payments, insurance, taxes etc:


  • Loan processing or application fee:
  • Underwriting fee:
  • Funding or lender fee:
  • Attorney fees:
  • Appraisal fee:
  • Recording and Preparation of Documents fee:
  • Credit report fee:
  • Broker fee:
  • Any other fees:

Title Search/Insurance Costs:

Amount of prepayments needed for interest, taxes, insurance etc:

Taxes (local and state), transfer taxes, stamp taxes:

Flood determination:

Home inspections and Surveys:

Total Fees and any other closing or settlement cost estimates:

Other Stuff to Take Into Consideration:

Can any of the fees or costs be waived:

Are there any prepayment penalties:

If yes, how much:

How long does this penalty period last for:

Is there a lock-in agreement guarantee in writing:

Is there a fee for a lock-in:

From when will the lock-in take affect – application, approval:

How long will the lock-in last for:

Will a lower lock-in rate be available if the interest rate drops before closing:

Adjustable Rate Mortgages:

Initial rate:

Maximum increase of rate:

How often will the rates be changed:

Credit Life Insurance

Is credit life insurance included:

Is a credit life insurance policy a condition of the loan:

Cost of credit life insurance: