Getting your mortgage from a big bank

At your first appointment, ask the bank's loan officer some simple questions.

  • Before closing, if the rates go down will you let me know? Will you lower my rate?
  • During my mortgage, will you let me know if it becomes cheaper for me to refinance with a penalty to save money?
  • What will my penalty be if I need to refinance after 3 year? In dollar amount, please?
  • If I want to move, will I be able to port and increase my mortgage at competitive rates?
  • At renewal will you provide me with a competitive rate?
  • Can I have you cell phone number in case I have any questions?
  • Do you work for me or the bank?

  • Pretty simple questions, but you might not like all the answers.