It is important that consumers are prepared to meet with a mortgage lender by knowing what to ask and what financial information they’ll need to provide.
ACCC offers these 5 tips for communicating with mortgage lenders:
Get familiarized with terms and conditions prior to talking with a mortgage lender.
2. Shop around
Before making a decision, make appointments with several lenders to find the best deal.
3. Have information ready
Lenders will want to know about your finances, such as income and expenses, and other debt commitments.
4. Inform lenders of your budget
Let the lender know what your price range is.
5. Ask questions
Make sure you have a complete understanding of the mortgage process to ensure there are no surprises along the way.
Have fun and happy home buying!