Questions to Ask Your Mortgage Broker Before You Sign Anything

Choosing the right mortgage is one of the biggest financial decisions you’ll ever make. But many homebuyers rush through the process without asking key questions that could save them time, stress, and money.

At Total Stop Real Estate, we believe in empowering clients through transparency and education. The right mortgage broker should welcome your questions—not avoid them. To help you make the most of your mortgage consultation, here are the top questions to ask your mortgage broker before moving forward.

1. 💬 “Are You Licensed and How Are You Compensated?”

Start with the basics. Always verify that your broker is licensed in your province or state, and ask how they get paid—by the lender, by you, or both?

✅ At Total Stop Real Estate, we’re fully licensed and transparent about how we’re compensated so you always know who we represent.

2. 💰 “What Mortgage Products Are Available to Me?”

There’s no one-size-fits-all mortgage. A good broker should explain your options: fixed vs. variable, open vs. closed, short- vs. long-term, and so on.

✅ We tailor mortgage solutions based on your income, lifestyle, and long-term goals—not just your credit score.

3. 📉 “What’s the Best Rate I Can Qualify For—And Why?”

Don’t just ask about the lowest rate—ask what you personally qualify for, and why. Rates vary depending on your credit, income, and down payment.

✅ Total Stop Real Estate will break down your options and explain why one rate or product might work better than another for your situation.

4. 📄 “What Documents Do I Need to Get Started?”

Getting a mortgage involves paperwork. Knowing ahead of time what’s required—income verification, tax returns, ID, bank statements—saves you from delays later.

✅ We provide our clients with a detailed document checklist so you’re fully prepared from day one.

5. 🛑 “Are There Any Prepayment Penalties?”

Some loans charge fees if you pay them off early. Make sure you understand the flexibility (or limitations) of your mortgage terms.

✅ At Total Stop Real Estate, we walk you through fine print like penalties and prepayment privileges—so there are no surprises.

6. 🏦 “Which Lenders Do You Work With?”

The strength of a broker’s lender network determines your range of options. More lenders means more flexibility and better odds of approval.

✅ We work with a wide range of trusted lenders—from major banks to flexible alternative lenders—so we can match you with the right fit.

7. 🔄 “How Long Does the Approval Process Take?”

Timeframes can vary depending on the lender and your personal circumstances. Ask for realistic expectations on how long each stage will take.

✅ We’re committed to fast, efficient service and clear communication at every step of your mortgage journey.

8. 🔍 “Can You Help Me Understand All the Costs?”

Beyond your down payment, there are closing costs, legal fees, home inspections, and more. A good broker breaks it all down for you.

✅ Total Stop Real Estate gives you a complete cost overview so you can budget confidently—not guess blindly.

9. 🔐 “Is My Information Secure?”

You’re sharing sensitive financial data. Make sure your broker uses secure systems and safeguards to protect your privacy.

✅ We use encrypted platforms and strict privacy protocols to keep your data safe and secure.

10. 🧭 “What Happens If My Situation Changes?”

What if you change jobs? What if rates shift during your approval process? A broker should be able to guide you through the unexpected.

✅ We’re not just here to get you approved—we’re here to help you adapt if life throws a curveball.