Choosing your lender can and will have long lasting effects on your loan and inevitably, your pocketbook. The research and negotiating you do before you sign will payoff through the full duration of your loan. You will need to find a lender that is willing to work with you on your terms. If you find a lender that will not work with you, but is dictating terms, then you will want to move on to another lender. There are plenty of lenders for you to choose from and some are more workable than others.
You will want to made sure that your interest amount is tied to your current principle and that there are no prepayment penalties. If the lender will not agree to this, then it would behoove you to find a lender that will, as this will have a very strong impact on your loan duration and payments.
Find out what their policy is on late payments, how long before they are considered late and incur a late payment penalty and how much the penalty amount is. Some lenders give you very little latitude as this is an area where they can really make some serious profit over multiple loans.
