San Francisco Mortgage Loans

Written by Tara Peris
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In San Francisco, mortgage loans can come with a number of hidden costs so it is important to evaluate offers carefully at the outset. Although there are several stages of the mortgage process at which additional fees and charges are customary, you want to look out for predatory practices. You should be able to anticipate and plan for all costs associated with your mortgage agreement.

There are a number of steps involved with securing a home loan and you must understand them well enough to anticipate when additional costs will arise. Critically, you must know when to ask questions. This is not a time to be shy and you should approach all potential loan agreements with a skeptical eye.

When and What to Ask

So when do you ask about additional costs? You should probably begin by inquiring about the closing costs associated with your specific lender. From there, you will want to look at the specific offer the lender puts on the table and ask about terms, interest rates, and potential penalties.

Once you have a good sense of what the full offer looks like, you can compare it to other offers and begin to negotiate. Remember that if you are a first-time buyer, you will likely qualify for additional accommodations such as special interest rates or loan terms. Ask questions throughout the process and you will enter into the loan agreement fully informed.

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