| Kelowna Real Estate Jack McKnight (250) 862-1984 |
If your buying or selling from someone else. YOU DON"T KNOW JACK |
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Mortgage Shopping Worksheet
| Canadian Mortgage Shopping Worksheet |
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Lender 1 |
Lender 2 |
| Name of Lender |
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| Name of Contact |
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| Date of Contact |
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| Mortgage Amount |
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| BASIC INFORMATION ABOUT THE MORTGAGE |
Mortgage 1 |
Mortgage 2 |
Mortgage 1 |
Mortgage 2 |
| Type of Mortgage: Conventional mortgage vs. high-ratio mortgage. |
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| If high-ratio, what is the insurance premium? |
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| Minimum down payment required |
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| Mortgage term (length of loan) |
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| Interest rate |
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| Estimated monthly mortgage payment |
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FEES
Different institutions may have different names for some fees and may charge different fees. We have listed some typical fees you may see on loan documents.
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Mortgage 1 |
Mortgage 2 |
Mortgage 1 |
Mortgage 2 |
| Application fee or Loan processing fee |
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| Survey or title insurance fee |
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| Appraisal fee |
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| Attorney fees |
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| Mortgage broker fees (not always applicable) |
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| Credit report fee |
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| Other fees |
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| Are any of the fees or costs waivable? |
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| PREPAYMENT PENALTIES |
Mortgage 1 |
Mortgage 2 |
Mortgage 1 |
Mortgage 2 |
| Is there a prepayment penalty? |
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| If so, how is it calculated? |
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| Are extra principal payments allowed? |
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| List all prepayment privileges |
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| INTEREST RATE LOCK-IN BEFORE CLOSING |
Mortgage 1 |
Mortgage 2 |
Mortgage 1 |
Mortgage 2 |
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