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Give Clients Questions they should ask Mortgage Lenders

As a follow up to our post on questions for financial advisors. We use a specific process of giving clients questions they should ask any loan officer before they work with them... this can be a powerful differentiating strategy that you post on your website as FAQs.

That said, if I were a client I'd want to know what to ask - giving them questions keeps them from searching the internet trying to figure out what questions they should ask.

10 Questions a Client Might Ask a Lender

  1. What types of mortgage products do you offer, and how do help me select the most suitable product for my borrowing risk?

  2. Can you explain the difference between fixed-rate and adjustable-rate mortgage payment and how do you help me select the right repayment strategy?

  3. What is your process to determine what is available to me when approving me for a loan?

  4. How do you determine the right amount for me to borrow and does that affect the interest rate for my mortgage loan?

  5. What fees and closing costs should a borrower expect when obtaining a mortgage?

  6. Do you offer any resources or tools to me better understand the mortgage process and make smart borrowing decisions?

  7. How do you ensure that I fully understand the terms of their mortgage loan when I borrow/repay to better manage by borrowing?

  8. Are there ways to better protect the equity that I'm investing in the house?

  9. How do you keep me informed about rate changes over time to minimize my cost of house ownership?

  10. What references or examples of past successful borrowers can you share?

TIP: Put these on your website (edit to your style) and guide your prospects to you in a way that you can help them answer these key questions. When you frame the questions you help set the table for a productive conversation.

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