Mortgage Lender

What is a Loan Officer?

A Loan Officer is the doorway to borrowing a loan to purchase your next property. Your lender will review all of your information you have sent and will likely ask you for this information multiple times, including the hour before closing! They will require the submission of documentation such as but not limited to:

- only submit what is asked and not more!


In order to choose the right lender, you first need to know what questions to ask.

Here are some questions that can help you find the right lender:


What are your typical working hours like?

- Maybe you work at a bank or you are in the military; the typical 9-5 work hours may not be ideal for you.

- Maybe you are self employed so 9-5 work hours are perfectly fine for you.


What fees do you charge for your services from start to finish?

Lenders work hard to get you into an ideal loan suited just for you!

So of course they should get paid right?!

-Some lenders may charge a percentage of the purchase price.

-While others may charge a flat rate for their services.


What options do you have for Veterans?

Based on documents I submitted, what is the loan program you recommend?


Are there any special assistance programs that I could apply for?

-At the discretion of the lender you can qualify for various programs such as a First Time Home Buyers Program.

Will I ever need to pay back any of the assistance money?

- Sometimes you will need to pay back the money within 2/3 years, other times only if you sell the home. - Check with your lender.


Does my pre-approval letter expire?

-Due to the fact that things can change on a day to day basis, your pre-approval letter does have an expiration date. This means that you may need to resubmit some documentation to your lender such as bank statements, check stubs and your credit score.


How long is my rate locked in for?

When does my rate get locked in?

What is a buy-down?

What are the requirements to buy-down?

How much does it cost to buy-down?

Does it benefit me to buy-down?

Does a buy-down stay locked in?

If you believe you could benefit from bringing down your interest rate by paying to bring it down, these are all great questions to ask  a lender.


Now that you have found your lender, It is highly important to submit everything as soon as your lender asks for it. We wouldn’t want you to miss an opportunity to purchase your home because you did not turn in that ONE document that your amazing lender asked you for. This has happened!


Once you have been pre-approved; DO NOT

DO NOT make any new purchases with your credit!

DO NOT make any disputes on your credit report!

DO NOT change jobs, quit or become self employed.

DO NOT co-sign on anything.

DO NOT make any large cash deposits! - Your lender will need to verify every last detail, which could delay your closing date. Which means you could potentially lose out on the sale and your earnest money.

DO NOT GET MARRIED during this process can have a highly negative impact on the process.

GETTING DIVORCED during this process can have a highly negative impact on the process.

Your lender will review all of your information you have sent and will likely ask you for this information multiple times, including the hour before closing!