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Prior to closing, will your lender monitor
the rates on a daily basis at over 40 institutions and will they drop
their rate to match the best offer in the market?
-
During the term of your mortgage, if it
makes sense to pay the penalty and take a new mortgage will they call you?
-
If you are paying the penalty and taking a
new mortgage, will they shop the market at over 40 different lenders and
offer you the best deal?
-
If you are taking a variable rate mortgage,
will they give you a discounted rate if you lock in and if so, what
discount be?
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What is your current institution’s penalty
clause on either a fixes or variable rate? If you are taking a fixed term,
do they still charge an interest rate differential after you have
completed three years of your term?
-
If you decide to move up to a larges home,
will they allow you to port and increase you mortgage and will they give
you a discounted rate on the new funds borrowed?
-
Do they offer 100% financing at a discounted
rate? Do they offer 100% financing with cash back?
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Do they have a mortgage for self employed?
Are you permitted to use stated income for income confirmation?
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Upon renewal, will they shop the market at
over 40 different lenders and offer you the best rate in the market place?
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Finally, who does your current lender work
for, you or the bank?
