If you’re buying a home for sale in Ellicott City or any of the surrounding communities, do you know what to ask your lender before you apply for a mortgage?
What to Ask Your Mortgage Lender Before You Buy a Home in Ellicott City
We always recommend doing your homework before you take out a mortgage – even if it’s not your first time. Make sure you ask your lender:
- What kinds of home loans do you offer?
- What kind of mortgage would you recommend for me?
- What will my closing costs look like?
Lender Question #1: What kinds of home loans do you offer?
The most common types of home mortgages are:
- Fixed-rate and adjustable-rate
- FHA loans
- VA loans
- USDA loans
- Jumbo loans
Not all lenders have the same packages, though, which means you’re doing your due diligence as a buyer if you shop around for one that offers what you need.
Related: Mortgage basics for buyers
Lender Question #2: What kind of mortgage would you recommend for me?
Your lender should be able to answer this question once you’ve filled out an application for preapproval. During the application process, the lender will look at your assets and income, employment, credit score and debt – and it will be able to make recommendations based on your financial profile.
Lender Question #3: What will my closing costs look like?
Closing costs are the fees you have to pay your lender and other parties to run the transaction. Usually, you’ll pay between 3 and 4 percent of the home’s sales price in closing costs. Your lender will let you know what your closing costs might be – and whether any of them are negotiable.
Pro tip: Sometimes fees like attorney fees, commissions and recording costs are negotiable to save you money.
Related: What are closing costs?
Are You Buying a Home in Ellicott City?
If you’re ready to buy a home for sale in Ellicott City, we can help you find the right one.
Call us at 410-465-5822 to tell us what you want from your next home or to schedule a tour in a home you’ve seen online.
Use these links to check out the hottest listings:
- Ellicott City homes for sale
- Columbia homes for sale
- Catonsville homes for sale
- Pikesville homes for sale
- Owings Mills homes for sale

2530 Kensington Gardens 301 Ellicott City, Maryland
3 Beds 3 Baths 2,880 SqFt
Listing courtesy of Coldwell Banker Realty

11920 Frederick Road Ellicott City, Maryland
3 Beds 2 Baths 1,498 SqFt 0.250 Acres
Listing courtesy of Keller Williams Realty Centre

5341 Kerger Road Ellicott City, Maryland
5 Beds 4 Baths 3,982 SqFt 0.330 Acres
Listing courtesy of Excel Realty Corp.

8800 Bosley Road 307 Ellicott City, Maryland
3 Beds 2 Baths 1,890 SqFt
Listing courtesy of Berkshire Hathaway HomeServices PenFed Realty

8118 Calla Lilly Drive 107 Ellicott City, Maryland
3 Beds 4 Baths 2,910 SqFt
Listing courtesy of Cummings & Co. Realtors

2874 Thornbrook Road Ellicott City, Maryland
4 Beds 4 Baths 3,896 SqFt 0.330 Acres
Listing courtesy of RE/MAX Advantage Realty

3112 Bunker Drive Ellicott City, Maryland
5 Beds 5 Baths 4,606 SqFt 0.350 Acres
Listing courtesy of Long & Foster Real Estate, Inc.

3118 Priscillas View Ellicott City, Maryland
3 Beds 3 Baths 1,552 SqFt 0.020 Acres
Listing courtesy of RE/MAX Executive

3784 College Avenue A1 Ellicott City, Maryland
3 Beds 4 Baths 2,393 SqFt 0.270 Acres
Listing courtesy of Elevate Real Estate Brokerage

2806 Greenway Drive Ellicott City, Maryland
4 Beds 3 Baths 2,110 SqFt 0.460 Acres
Listing courtesy of Douglas Realty LLC

8613 Falls Run Road G Ellicott City, Maryland
3 Beds 2 Baths 1,083 SqFt
Listing courtesy of RE/MAX Specialists

2616 Queensland Drive Ellicott City, Maryland
4 Beds 5 Baths 3,075 SqFt 0.020 Acres
Listing courtesy of Long & Foster Real Estate, Inc.

2750 Thornbrook Road Ellicott City, Maryland
4 Beds 3 Baths 3,753 SqFt 0.320 Acres
Listing courtesy of Keller Williams Lucido Agency

10212 Clubhouse Court Ellicott City, Maryland
4 Beds 3 Baths 3,228 SqFt 0.320 Acres
Listing courtesy of Northrop Realty, A Long & Foster Company

8511 Coltrane Court 202 Ellicott City, Maryland
3 Beds 2 Baths 1,800 SqFt
Listing courtesy of Keller Williams Lucido Agency
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