Disclosure questions (before signing)
A checklist of questions to reduce surprises and rework. Use this during quote comparison and before you sign. For definitions (e.g., EIR vs flat rate), verify using primary sources.
Checklist
Use these headings as a reusable prompt when asking providers.1) Rate type and how it's calculated
- Is the quoted rate an Effective Interest Rate (EIR) or a flat rate?
- What assumptions are used in the calculation (term, fees, add-ons)?
- Can you show a simple worked example for my exact case?
2) Fees and add-ons
- What fees are included (application/processing/admin)?
- Which fees are optional vs mandatory?
- Are there add-ons bundled by default (insurance, service packages)?
3) Term, conditions, and exceptions
- What term options do I have and how do they change total cost?
- What conditions could change approval certainty (documentation, eligibility checks)?
- Are there exceptions or scenario-specific requirements?
4) Prepayment and early termination
- Are there early repayment fees or conditions?
- How is the outstanding amount calculated if I prepay?
- What are the steps and timelines for early termination?
5) What happens if the application needs resubmission?
- What are the most common reasons for re-submission requests?
- Can you tell me the top 3 missing items you see in similar cases?
- How can we avoid restarting the application from scratch?
Templates
Standardize your comparison to avoid "apples vs oranges".Cost comparison table
Use a consistent set of fields (rate type, fees, term, total payable, prepayment terms).