7 Questions to Ask a Mortgage Lender to Make Sure You're Not Getting Screwed

Dusty Rhodes • January 27, 2020

Let’s be honest. Unless you eat, sleep and breathe financial stuff, home buying is complicated. That’s especially true of the financing part, where a lot of folks feel totally overwhelmed by the complexity of the lending industry and its bewildering jargon. 


But here’s the thing you need to know. Anytime you engage a loan specialist, you’re entering a competition. They’re trying to get the most money they can for themselves and their employer – and the less you know going into the conversation, the more successful they’ll be in that pursuit. If, on the other hand, you go in knowing what to ask, you’re tilting the balance of power back in your favor.  


In terms of knowing what to questions to throw the loan officer’s way, I thought I’d reach out to Colin Robertson, founder of the blog The Truth About Mortgage and a former lender himself. Here’s what he said should be on everyone’s list. 


7 Mortgage Questions to Ask a Lender


1. “What will the total housing payment be?”


It’s easy to focus on what your actual mortgage payment will be each month. But keep in mind that you’ll also have to pony up for things like property taxes, homeowner’s insurance, and HOA fees. If you put down less than 20 percent on the home, you may also have to pay mortgage insurance premiums, which protect the lender against the risk that you’ll default on the loan. These all add up. 


“Know the full amount you’ll need to pay each month to ensure the home will be affordable and not get in the way of your other expenses and savings goals,” says Robertson. 


2. “What’s my rate and how long is it good for?”


Snagging a low interest mortgage rate helps reduce your monthly payment, giving you a little extra wiggle room in your budget. That means shopping around for lenders – and negotiating.


But Robertson says you should also ask how long the rate is good for (the lock period) and ensure it’s actually locked once you’re happy with the quote you receive. That way it won’t change, even if rates rise in the meantime.


3. “Do you charge any lender fees or points?”


Expect to pay a host of charges when you take out a mortgage, including title fees, loan processing fees, underwriting fees, and loan origination fees. Some of these can be whittled down with a little negotiation. The loan origination fee, for example, is usually a percentage of the home sale price. For more expensive homes, the lender may be willing to take a smaller slice of the pie, knowing that they’ll still make a respectable profit. 


By law, the lender has to provide the “APR,” a version of the interest rate that includes some or all of these fees. Be sure to ask what’s included in their figure. That way, you can compare the APR for different loan options, accounting for any fees that are not rolled into it. 


Also check to see whether the lender is charging you any prepaid interest, also known as “points.” Each point is equal to one percent of the home price. So paying two points on a $300,000 home means you have to fork over $6,000 at closing. Paying points will typically lower your interest rate, which is one reason it may look like you’re getting a great deal. Unless you take them into consideration, you’re not really doing an apples-to-apples comparison of different lenders.


Keep in mind that if you plan to stay in the home a long time, paying finance charges on the front-end may not be a bad idea. Otherwise, it’s probably better to steer clear. 


4. “What type of mortgage is best for me?”


While most lenders will assume you want a 30-year fixed, a good one should take the time to go over a number of different loan options. 


“It might turn out that a cheaper 5-year ARM is a better alternative if you don’t plan on keeping the home for very long, or if you expect to refinance in the near future once your financial situation improves,” says Robertson. “Or that a 15-year fixed is totally manageable and a better value for you as a homeowner.”


The bottom line: there’s no one-size-fits-all solution to mortgages. Tell the lender about your plans and have them give you the pros and cons of different products.  


5. “How much do I need to put down?”


A good lender will be able to provide with a variety of down payment options, depending on how much cash you have to put down. Before picking a mortgage, ask exactly how much you’ll need to pay upfront, including closing costs like appraisal and title fees, property taxes and points, if there are any.


Are you required to pay mortgage insurance based on your low down payment? If so, make sure you know how much that will tack on to your monthly bill – and potentially your closing costs, too. 


6. “Why do mortgages get declined?”


The lender offers you a great rate with a down payment you can actually afford. Everything’s looking great. The last thing you want is to find out that the bank or mortgage company decided to back away from your loan at the last minute. And yet it happens.


Robertson recommends asking why other loans tend to fail in order to avoid the same misfortune. “They might tell you because of credit, or a new job, or a lack of seasoned assets,” he says. “Knowing why mortgages don’t make it to the finish line could be key to getting yours to the funding table.”


7. “How long will the process take?”


When it comes to home buying, timing is of the essence. You’ll want to ensure that the lender you choose can not only close your loan, but do so by the closing date specified in the purchase agreement.


That might mean seeking out a mortgage originator with a record of efficiency. “Some lenders specialize in refinances, and may not be the best fit for a time-sensitive home purchase,” says Robertson. 


As with any huge purchase, you definitely want to shop around. Bounce your list of questions off multiple lenders so you can figure out who’s going to give you the best overall value, not just the lowest advertised rate. Considering how much money and heartache you could be saving, you’ll be glad you did a little homework going into the process.



Source: Yahoo Lifestyle


Dusty Rhodes Properties is the Best Realtor in Myrtle Beach! We do everything in our power to help you find the home of your dreams. With experience, expertise, and passion, we are the perfect partner for you in Myrtle Beach, South Carolina. We love what we do and it shows. With more than 22 years of experience in the field, we know our industry like the back of our hands. There’s no challenge too big or too small, and we dedicate our utmost energy to every project we take on. We search thousands of the active and new listings from Aynor, Carolina Forest, Conway, Garden City Beach, Longs, Loris, Murrells Inlet, Myrtle Beach, North Myrtle Beach, Pawleys Island, and Surfside Beach real estate listings to find the hottest deals just for you!

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Should You Pay for Your Buyer’s Closing Costs? What Sellers Need To Know.

By Dusty Rhodes • June 15, 2026
A few years ago, sellers could get away with saying “no” to just about everything. No repairs. No concessions. No negotiation. If buyers wanted the house, they pretty much had to take it on the seller’s terms. But now that inventory’s grown, negotiations are becoming a normal part of the process again. That’s why one of the most important things sellers need to understand right now is this: The goal isn’t to “win” every negotiation. Sometimes, it’s worth meeting buyers where they are to get a deal done, fast. One example? Helping with a buyer’s closing costs. Let’s break that down, so you know what to expect if it comes up in your sale. What Are Buyer Closing Costs? Closing costs are the extra expenses buyers pay on top of their down payment when they purchase a home. Freddie Mac gives some examples : Loan origination fees Appraisal and inspection costs Title and attorney fees Survey fees and more Typically, buyer closing costs range from about 2% to 5% of the home’s purchase price. So, on the typical $400,000 home, that could mean anywhere from $8,000 to $20,000 out of pocket. And in today’s affordability-challenged market, that upfront cash can be a major hurdle for some buyers – even if they can comfortably afford the monthly mortgage payment itself. That’s why more people are asking sellers for help. And More Sellers Are Saying “Yes” According to the latest data from Zillow , 67% of sellers reported paying some or all of the buyer’s closing costs in 2025 ( see chart below ):

How to Stage Your Outdoor Space to Sell Your Home Faster

By Dusty Rhodes • June 8, 2026
When preparing to sell your home , the outside matters just as much as what’s inside. Learning how to stage your outdoor space to sell can help create a memorable first impression, boost curb appeal, and make buyers feel emotionally connected before they even walk through the front door. From refreshing landscaping to creating cozy gathering areas, thoughtful outdoor staging can help your home stand out in a competitive market. In this Redfin guide, we’ll share expert-backed tips for transforming your yard, patio, porch, or garden into a space buyers can easily picture themselves enjoying. Whether you’re preparing a bungalow in Boise, ID , or listing a modern home in Savannah, GA , these outdoor staging ideas can help sellers create inviting spaces that feel polished, functional, and move-in ready. Why outdoor staging matters when selling a home Outdoor staging helps buyers form an emotional connection with a home before they even step inside. A clean, inviting exterior can make a property feel more cared for, while thoughtfully designed outdoor spaces help buyers imagine themselves relaxing, entertaining, or spending time outside. In competitive markets especially, those details can help a listing stand out from similar homes nearby. “Staging allows buyers to see the potential of the space and aids realtors in securing high-investment buyers,” shares Julia, CEO of JP Urban Moving . “Staging is an aspect of the moving industry that customers generally don’t consider, but it’s vital and on the rise.” Outdoor staging can also help: Create a stronger first impression during showings. Highlight usable outdoor living areas like patios, porches, and backyards. Make the home feel move-in ready . Showcase the lifestyle the property offers , not just the structure itself. Help buyers remember the home after touring multiple listings. Focus on curb appeal first Curb appeal plays a major role in shaping a buyer’s first impression of a home. Before buyers notice updated interiors or spacious layouts, they’re already evaluating the condition of the yard, landscaping, and exterior maintenance. “Ensure your home is move-in ready by maximizing its curb appeal and value through thoughtful landscape design,” suggests Fel Quinn, Marketing Director at TerraVita Landscape & Gardening Inc. “Carefully consider how the trees, shrubs, and perennials add interest while keeping the space low-maintenance. Sometimes less is more – by prioritizing strategic planting and the overall health of your landscape, you can create a welcoming space that is both well-kept and inviting.” To improve curb appeal before listing your home: Trim overgrown trees and shrubs. Refresh mulch in flower beds and garden areas. Mow and edge the lawn regularly. Keep walkways, driveways, and entryways clean and clutter-free. Choose landscaping that looks attractive while remaining low-maintenance. Create outdoor spaces buyers can picture themselves using When staging an outdoor space , the goal is to help buyers imagine how they would actually live there. A cozy patio setup, welcoming front porch, or peaceful backyard can make the home feel like a retreat rather than just another property on the market. Buyers are often drawn to spaces that feel functional, relaxing, and easy to enjoy from day one. “Think about it: It’s Friday afternoon, you just got off a busy work week, you’re dreaming of how long until you escape to your home, that peaceful haven from the chaos,” says Justin Wilson of American Irrigation Repair . “When you’re selling your house, you’re not just selling just the structure, you’re selling a vision of how a buyer feels when they step on the property.” To create outdoor spaces buyers can connect with: Arrange simple seating areas on patios or decks. Add outdoor pillows or neutral decor for warmth. Incorporate planters or flowers for natural color. Keep pathways and gathering spaces open and uncluttered. Highlight features like fire pits, gardens, or dining areas. Use lighting to make the space feel inviting during evening showings. Less clutter, more function: Keep outdoor staging simple When staging outdoor areas, simplicity often has the biggest impact. Buyers want to see spaces that feel open, functional, and easy to maintain, rather than overcrowded with furniture, decorations, or excessive landscaping features. A clean and thoughtfully arranged yard allows buyers to focus on the home itself while still appreciating the outdoor lifestyle it offers. “When staging an outdoor space to sell, focus on making it feel clean, welcoming, and easy for buyers to picture themselves comfortably living in and using the space,” says Beth Wren of Copper Creek Landscaping . “The goal is to create an outdoor space that feels polished, functional, low-maintenance, and like a natural extension of the home.” To keep outdoor staging simple yet effective: Remove broken furniture , excess décor, and unused yard items. Define seating areas without overcrowding the space. Add fresh mulch and trim overgrown plants. Highlight one or two focal points , like a bird bath or statement planting. Don’t forget the emotional connection buyers feel outdoors Outdoor spaces often leave the strongest emotional impression during a home tour. Long after buyers forget square footage or listing details, they tend to remember how a home felt – especially in areas where they can imagine relaxing, gathering, or unwinding. A thoughtfully staged exterior helps turn a property into something more personal and memorable. At its core, outdoor staging is about selling a feeling as much as a space. Buyers respond to environments that feel peaceful, cared for, and inviting, where they can easily picture everyday moments unfolding. Key emotional drivers in outdoor staging include: A sense of calm and retreat from daily stress. The feeling of a “personal oasis” or private escape. Warmth and comfort created through greenery, lighting, and layout. Subtle signals that the home has been well cared for over time. Spaces that feel ready for connection , whether with family, friends, or nature. How to stage your outdoor space to sell successfully Staging your outdoor space is about more than improving curb appeal – it’s about helping buyers imagine the lifestyle your home offers. Small updates like fresh landscaping, defined seating areas, lighting, and thoughtful decor can make your property feel more welcoming, memorable, and move-in ready. By taking the time to stage your outdoor space to sell, you can create a strong first impression that helps your home stand out to potential buyers.

What a Builder Warranty Covers on New Constructions (and What You’re on the Hook for Yourself)

By Dusty Rhodes • June 1, 2026
Buying a newly constructed home can come with a number of perks, one of them being a builder warranty. Now, the assumption is that the warranty means the builder will assume financial responsibility for anything that breaks . The truth is, while a builder warranty is issued to most new constructions, it covers a very specific list of features in and on the house. Understanding what is covered by this warranty and if you'll need a home warranty in addition to your insurance is an important step for first-time buyers of new-construction homes. Home warranty vs. builder warranty There are importants differences between a builder warranty and a home warranty . The primary difference is that a builder warranty covers new construction or a remodel by a builder. Most newly built homes come with a builder warranty. A home warranty applies to existing properties and covers appliances (like the oven, range, and garbage disposal) and household systems (like electrical, plumbing, heating, and cooling). And while a builder warranty is provided by the builder, a home warranty is purchased by the buyers. What’s covered and what’s not? The lifespan of a builder warranty depends on the specific features of the house. However, the typical builder warranty lasts six months to two years, with some lasting up to 10 years for "major structural defects" like an unsafe roof. While there are differences in warranties from builder to builder, in general, they should cover all of a home’s materials and workmanship. In most cases, that includes: Concrete foundations and floors Dry basement Clapboard and shingles Landscaping Carpentry Thermal and moisture cover Waterproofing Insulation Roofing and siding Doors and windows Glass Garage doors Paint Plumbing Electrical Heating and cooling Septic system Most builder warranties don't cover: Household appliances Defects resulting from work conducted by the homeowner or anyone else after the builder's work is completed Shrinkage and expansion of the house Normal fading of paint Shrinkage of joints/minor cracking Weather-related issues Dampness/condensation caused by failure of the homeowner to maintain adequate ventilation Insect damage Builder warranty essentials While a builder warranty is an “absolute must” if you're buying a new home, it shouldn't make you feel too comfortable, says Robert Pellegrini Jr. , Esq, president of PK Boston, a real estate law firm in Massachusetts . “A builder warranty can give a false sense of security to homebuyers, so you need to be careful.” You might assume something is covered that actually isn't. It’s up to you to ask your builder for the details of the warranty and, ideally, have an attorney look over the contract. “It's a significant negotiation—the builder wants to be responsible for essentially nothing, and it's in the buyer's best interest to have the builder on the hook for as much as possible.” Before you sign the contract, make sure you know not only what is and isn't covered, but also the length of the coverage. Pellegrini says you should also make sure you understand how to notify the builder should something go wrong during the warranty period. If you don't notify the builder in accordance with the contract terms, it could void the warranty. Some of the biggest disagreements arise when the cause is the issue, and the question is: "Was the damage due to neglect during building or to misuse by the homeowner?" For example, if a homeowner decides to clean his paintbrushes in his kitchen sink after he moved in, but doesn't realize that doing so will render the septic system inoperable, he will be liable for replacing it at his own expense. It’s not always cut and dried, though. “If homeowners act in good faith and work well with the builder, the builder is more apt to help you, even if it's not a warrantied item,” Pellegrini says. If the builder goes out of business, however, all bets are off. “In most cases, the buyer is out of luck,” he adds.  Bottom line? If you buy a new construction, make sure you get a builder warranty. But don't bank on that warranty covering everything that might go wrong with your home. While you should try to get as much coverage from your builder as possible, repairs and maintenance fees are all part of the homeowning game.