Few people who are looking to buy a home in North Texas give much though to the home loan interview. Your mind may be on other things such as how much home you can afford, whether you have a large enough down payment, or if anything you didn’t expect might show up on the home inspection. What you may not know is that when it comes to the loan interview performed by a mortgage broker or loan officer, things will get personal. How to nail it? Our Dallas real estate pros have a few tips.
Be prepared. You don’t fly by the seat of your pants when it comes to the home loan interview, so take it seriously and prepare yourself by being ready to answer questions about your credit, income, payment history, budget, and more. Be sure to bring along a couple of months’ bank statements, pay stubs for the past six months or so, tax returns for the most recent two years, and W2s.
Your appearance makes a difference. No, you’re not going to a corporate luncheon or a job interview, but you want to come across as professional and confident. Skip the jeans or shorts, and dress in a way that will make a good impression. Ultimately you want to come across as serious and responsible, both in terms of physical appearance and behavior.
Take along a list of questions. This is a big deal; you’re trying to make the biggest investment of your life, and no question is dumb. By asking all those questions you have, your loan officer will take you more seriously – and you’ll have the answers you need to all the things you were wondering about.
Don’t procrastinate. It isn’t uncommon for a lender to need additional information, documents, or answers to questions forgotten in the interview. If the loan officer calls, call back immediately. If he or she has requested some additional items once the loan process is underway, get those items delivered right away. Be sure that your loan officer has every possible way to contact you including cell phone, home phone number, email address, physical address, etc. In responding as quickly as possible and being honest, the loan process will go seamlessly – which means you may get into that home just a little faster.
At Team Nelson, we understand that buying your dream home and going through the home loan interview process often feels like you’re running a marathon or jumping through hoops. Yes, it’s a tedious process – but one you’ll find very worth the effort in the end, when you’re family is enjoying your dream home. For help with all of your real estate needs and questions, feel free to give our North Texas realtors a call.
