Plan  
Make a list of queries for your home mortgage lender. Your queries must be comprehensive and include every prospective element of the loan you’re exploring.

Gather the Details 
Make an information sheet for every mortgage lender from which you’d be gathering details. If you have one fill up the gaps information sheet, then it would be simpler for you to compare one loan with the other.

Your information sheet must incorporate the following details: 
Name of the mortgage lender
Name of the borrower and property addressLoan amount
The type of loan the lender is arranging for you
The loan is __% of the appraised value of the property
Date your rate might go up
Starting interest rate – for how much time is this rate beneficial
Present approximation of how high the interest rate can go (completely indexed rate)
The monthly income your mortgage loan is founded on
Maximum potential rate on your mortgage loan
What your monthly mortgage payment would be on the basis of your starting rate
What your payment would be on the basis of your starting rate along with insurance (PMI) and taxes
What your monthly mortgage payment would be on the basis of completely indexed rate
What your payment would be on the basis of completely indexed rate along with PMI and taxes
Is there a balloon payment
When it is payable
Is there a prepayment penalty
What is that and why it needs to be paid?
The precise amount for discount points on your mortgage loan and fees and costs payable at closing

What Do All These Mortgage Terms Signify?     
You’re not finished with the discussion till you know everything to your contentment. If the lender states something that you find difficult to comprehend, request them to clarify elaborately.

Contact 
Note down the name, telephone number as well as the e-mail address of the individual assisting you with your mortgage loan quote. It might be a wise step to have him go through your information sheet for correctness and sign at the end.