When getting a mortgage from a bank there are some questions you should ask before signing a loan application. One question you should ask before signing a lone application is the interest rate of the loan. Other questions you should ask when it comes to the interest rates are how long you can lock in that rate for. If you are trying to get pre approve before you buy a house, asking this question will let you know how much time you will have before having to fell out a new application. A next question you should ask when it comes to the interest rates is, if the rates go down before you close can you get the new lower rate without penalties.

Another question you should ask before signing a loan application is an estimate on the closing cost. The reason for asking this is it will give you some idea on how much money you will need for the closing cost. If you get pre approve by a bank and they don't give you an estimate on the closing cost, you can end up finding the right home and when you try to close the closing cost might be more than you can afford to pay.

One last question you should ask before signing a loan application is the terms of the loan. Some things you can ask is, can you pay off the mortgage early with out penalties, is the mortgage assumable and can you pay more than the monthly payment to go towards the principal without penalties. When signing a loan application by asking the right questions, it can give you a better idea of what you are getting into.