Zdravko (Zee) Dimov - RE/MAX
Ultimate Rlty, Sales Representative
487-5131 ; cell: (416) 569-5396
Questions To Ask
· Is the mortgage automatically renewable when
it matures, or will I have to re-qualify?
· Can I ''skip'' a mortgage payment?
· If I have ''doubled up'' on a mortgage payment,
can I ''skip'' a payment at a later date?
If the current rate from the lender is higher
that my contract rate when I wish to make a prepayment,
will the lender provide a rebate?
· Can I pay my property taxes directly or do
I have to pay them through the lender? If they can
not be paid directly, what interest is paid on the
property tax savings account?
· Is there any outstanding tax due on the property?
· Can I sell the mortgage along with the house?
· Is the prepayment amount based on the original
amount, the current payment or the outstanding balance?
· Can the monthly payment be reduced after it has
· Can I take the mortgage with me when I sell the
house? If so, can I ''port'' or ''port/increase/blend''?
Can I port and reduce the outstanding balance?
· Who decides if my mortgage allows a prepayment?
· When selling my house, what will the penalty be
if the buyer is not allowed to assume the mortgage?
· Will the full mortgage amount be forwarded on
closing or is the adjustment date used?
· How often can the mortgage be prepaid?
· How long is the interest rate guaranteed before
closing? Is there any cost?
· Will I get the benefit of a lower interest rate
if rates drop?
· When will the ''final'' rate be set?
· Can I convert an open mortgage to longer fixed
term? What does this cost? What type can I convert
to? Are there any fees associated with conversion?
· Is the ''early renewal'' feature offered?
(zdravko) Dimov, RRS
RE/MAX Ultimate Realty Inc.
Real Estate Made Real E-Zee for You!
is not intended to solicit clients or properties
currently under contract