Many first-time homebuyers are nervous going into their first
meeting with a lender. As with public speaking, the best way to
ease your nerves is to prepare. While the exact content of lender
meetings will of course vary, the basics are the same across the
board. Read on to discover what to expect when you walk into your
lender’s office for the first time.
As a side note, it is ideal to have this kind of meeting before
you start searching for a house. Pre-approval is a great way to
streamline the mortgage application process. It is also a great
way to help determine what kind of mortgage payment your budget
can accommodate. If you don’t obtain pre-approval, then
you will likely visit the lender as the application proper begins.
Whenever you go, you should be prepared for an interrogation
of sorts. Your lender will want to know everything about your
finances. This disclosure includes how you’ve handled them
in the past, and where they stand now. Your lender will scrutinize
your payment record with other creditors to help predict if you
will make your mortgage payments on time. Bring along paperwork
and statements that help to facilitate that judgment.
You should always keep this goal in mind: you want to represent
yourself as someone who will responsibly make mortgage payments.
The more conscientious you are, and the more attention to detail
you show, then the more you demonstrate that you will probably
be a responsible borrower. Ask questions and try to be as involved
as possible. Impressions are always important, so make a good