These tutorials assist borrowers planning to shop on line who need to know the type of mortgage, rate/point combination and other factors before they shop.

Tutorials on Selecting Mortgage Features

Planning to shop for a mortgage on-line? It is a good idea to answer the following questions first, so you know exactly what you are shopping for. 

1.  Do I want an FRM or an ARM?
2a. Which ARM do I want? Or:
2b. Which FRM do I want?
4.  Do I want an interest-only option?
5.  Which rate/point combination do I want?
6.  How large a down payment should I make?
7.  Do I waive escrows?

8.  Do I accept a prepayment penalty clause?
9.  How long a lock period do I need, and when should I lock?
10. What documentation requirements should I seek?

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