6. What is the minimum down payment required for this loan?
Sometimes the rate and terms of your loan will be based on your down payment, so ask what different downpayment amounts might do to change things. A typical down payment is 3 to 20 percent of the sales price. If you can put more money down, you may be able to lower your rate and improve your terms. Don't have the cash? You may be required to get mortgage insurance, but many buyers are still able to buy with very little money down with help from grants and/or downpayment assistance. For example, I just helped a Buyer close a deal with less than $1,000 out of pocket (and that included and inspection and and appraisal). They didn't have perfect credit either; so ask someone who knows the mortgage business well. Great Real Estate Agents know great Mortgage Loan Officers.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com