Get Mortgage Shopping Worksheet

This guide provides clear instructions on how to efficiently fill out the Mortgage Shopping Worksheet online. By following these steps, users can effectively compare mortgage options and make informed decisions.

Follow the steps to successfully complete the Mortgage Shopping Worksheet.

1. Press the ‘Get Form’ button to access the Mortgage Shopping Worksheet. This action will open the form for you to begin filling it out.
2. Start by filling in the section for Lender 1. Enter the name of the lender, name of the contact person, and the date of contact. This information is essential for tracking your mortgage inquiries.
3. Proceed to enter the mortgage amount you are considering. This should be the total loan value you wish to apply for.
4. In the 'Basic Information on the Loans' section, specify the type of mortgage you are exploring. Options include fixed-rate, adjustable-rate, conventional, FHA, or other.
5. Fill in the minimum down payment required, the loan term, contract interest rate, and annual percentage rate (APR). This data will help you understand the loan's cost.
6. Complete the sections regarding monthly private mortgage insurance (PMI) and any monthly escrow fees. This impacts your total monthly payment, so ensure accuracy.
7. Next, navigate to the 'Fees' section. Fill in each fee associated with the mortgage as outlined in the worksheet. Note that fees may vary between lenders.
8. In the 'Other Costs at Closing/Settlement' section, provide estimates for title search, insurance, and any prepaid items necessary at closing.
9. Complete the 'Other Questions and Considerations about the Loans' section, addressing any prepayment penalties, lock-in agreements, and insurance requirements.
10. Once all sections are filled, review your entries for accuracy. Save your changes, and choose to download, print, or share the completed form as needed.

Start comparing mortgage options by filling out the Mortgage Shopping Worksheet online today!