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Mortgage Shopping Worksheet (Click for a printable worksheet) Mortgage 1 Mortgage 2 Mortgage 3 Mortgage 4 Name of Lender: . . . . Contact Person: . . . . Date of Contact: . . . . Basic Loan Questions Amount of Mortgage: . . . . Type of Mortgage (Adjustable rate, fixed rate, conventional, FHA, other): . . . . Minimum Down Payment: . . . . Loan Term (Length of loan): . . . . Contract Interest Rate: . . . . APR (Annual Percentage Rate): . . . . Points (Also called Loan Discount Points): . . . . Monthly PMI (Private Mortgage Insurance) premium: . . . . How long must I/we keep PMI? . . . . Estimated monthly escrow for taxes and hazard insurance: . . . . Estimated monthly payment (Principal, Interest, Taxes, Insurance, PMI): . . . . Application/Loan Processing Fee: . . . . Originating/Underwriting Fee: . . . . Lender/Funding Fee: . . . . Appraisal Fee: . . . . Attorney Fees: . . . . Document Preparation/Recording Fees: . . . . Broker Fees (Points, origination, interest rate add-on, other): . . . . Credit Report Fee: . . . . Other Fees (specify): . . . . Other Closing/Settlement Costs: . . . . Title Search/Insurance (for Lender): . . . . Title Search/Insurance (for me/us): . . . . Estimate prepaid amounts for interest, taxes, hazard insurance, payments to escrow: . . . . State and local taxes, stamp taxes, transfer taxes: . . . . Flood determination: . . . . Prepaid PMI (Private Mortgage Insurance): . . . . Surveys and home inspections: . . . . Total Fees and Other Closing/Settlement Cost Estimates: . . . . Additional Questions Can any of the fees or costs be waived? . . . . Is there a prepayment penalty? . . . . If yes, how much is it? . . . . How long does the penalty period last (in years)? . . . . Are extra principal payments permitted? . . . . Is the lock-in agreement in writing? . . . . Is there a fee to lock-in? . . . . When does the lock-in occur (at application, on approval or another time)? . . . . How long will the lock-in last? . . . . If the rate drops before closing, can I/we lock-in at a lower rate? . . . . ARM (Adjustable Rate Mortgage) Questions What is the initial rate? . . . . What is the maximum the rate could be next year? . . . . What are the rate and payment caps each year and over the life of the loan? . . . . What is the index that the lender will use? . . . . What margin will the lender add to the index? . . . . Credit Life Insurance Questions Does the monthly amount quoted include a charge for credit life insurance? . . . . If yes, does the lender required credit life insurance as a condition of the loan? . . . . How much does the credit life insurance cost? . . . . How much lower would my/our monthly payment be without the credit life insurance? . . . . If the lender does not require credit life insurance, and I/we still want to buy it, what rates are available from other insurance providers? . . . . Additional Questions/Notes . . . . Return to our welcome page

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