A list of practical questions that work with any type of mortgage provider, and why each one matters. Work through each part below with your own numbers and documents, and keep notes as you go.
About the company
Ask whether the company is a direct lender, a broker or a credit union, and who will actually fund and service the loan. Ask for the company's NMLS ID and verify it. If a broker is involved, ask how many lenders they work with and how they choose which ones to show you.
About compensation
Ask how the loan officer is paid and whether compensation depends on the loan terms. Federal rules restrict tying loan originator pay to the terms of a loan, and a broker generally cannot be paid by both you and the lender on the same transaction. Understanding pay helps you understand incentives.
A list of practical questions that work with any type of mortgage provider, and why each one matters.
About the offer
Ask for a Loan Estimate, whether the quote is locked, what the lock costs and how long it lasts, and which fees could change before closing. Ask whether lender credits or points are included and what the offer would be with neither.
About service after closing
Ask whether the lender usually keeps servicing or sells it, and how you would be notified of a transfer. Ask who to contact with a question during the process and how quickly they typically respond. Good answers here can matter as much as small differences in price.
Sources
Sources checked 10/23/2026. General education only; confirm current rules with official sources and a licensed lender.