So This is the Year you Purchasing your First Home ? You Should meet with your Lender at least in the First meeting . It great to sit down with lender ask the some questions . When your meeting with your Lender If you already have hired your Real Estate agent . Ask them if they have any question they would want you to ask . Real Estate Agent May have some questions that are important to your area .
The list of questions That will make your Purchasing process Smoother and less confusing .
- What are their work hours ? What best way to reach them if you have question Email,Text or Call . You want make sure Lender works the way that suits your need
- How Fast can I get a update Pre-approval and Quote Payment if I find a Home . You want make offer on .
- Will you be my point of contract through out the process or do you have Team ? Which time will we be introduced
- Have we gone over all the Loan products that are out their in our area?
- What average process Time line from Submitting application to Close?
- How many Years Have they been Lender and How many Years have they been with current Bank ?
- What got them into being mortgage Lending ? What do they like about it and what they don’t like about it ?
- How much is Your Credit Score affect Your Interest Rate?
- In the Past what have seen in changes of interest rate in 3-6 month time frame ? What their opinion. You want understand hoe interest rate change being , Price, interest rate and property Taxes will be most factor to change your payments.
- What Lender see in your finance and asset. How easy to get the loan closed ?
Here are some of the things you will need for the Lender need to get your process started .
- pay slip or proof of income.
- current bank statements.
- your passport or driver’s licence (ID) or birth certificate.
- tax returns or tax assessment notice.Of the last 2 years
- copies of recent statements for other credit facilities such as credit cards or other loans.
It is important to get the lender started on working on your file extremely early in the process Do not want until you find your house ? I have see Buyer get extremely frustrate because they running around at offer stage to get everything over to Lender to see if they even qualify for the loan amount .