7 Tips for Your Client to Help Their Mortgage Banker

No matter how hard you and I work to help your client purchase a home, how well they work with us is ultimately the key to success. Share these seven tips to help everyone enjoy a smooth loan process! (And if you missed last month’s Roundup, read about new income limits and first-time homebuyer programs here.)  

1. Work with Me Before Shopping  

You likely get excited clients who are ready to shop – but they haven’t talked to me yet. There’s an important box your client must check at the beginning - what can they actually afford? 

Please guide them to me before you and the client waste valuable time looking at homes without a true idea of mortgage possibilities. Not only can I help pre-approve them for what they can afford, but this knowledge will help you all focus on properties within budget – and make the seller happy too! Plus, I can help clients find loan programs and assistance they may not know about to make their mortgage more affordable.  

2. Be Responsive  

When clients apply for a loan, they’ll need to supply documents like bank statements, tax returns, paystubs, and W2s or 1099s. The sooner they can do this, with complete, legible information and all page/scans/uploads (yes, even the blank pages), in order, the better. And as the mortgage process continues, I may ask them to provide updated documents. Whether clients send them digitally through our app, attached in email, or hand-delivered, getting them to me quickly and thoroughly will keep their loan going smoothly. 

Also, my team and I will have questions for your client throughout the loan process. Encourage clients to do their best to answer them quickly and thoroughly to avoid delays. Don’t leave emails and voice messages unchecked, even at night and on weekends – I lend peace of mind 24-7! 

3. Avoid the 10 Don’ts of Borrowing 

Some of lenders’ most common challenges stem from borrowers’ forgetting advice about what NOT to do during the loan process. Check out the ten most common “don’ts”, including:  

• Don’t change jobs  

• Don’t buy a new vehicle  

• Don’t take out any new loans or credit cards  

• Don’t pay bills late  

• Don’t co-sign for another borrower 

4. Be Thorough  

Having financial obligations like alimony, child support, or liens does not necessarily mean your client is out of the running for a home – but I do need to know up front. If they owe back taxes or have other liabilities, those will eventually be discovered, so it’s best to share them at the beginning. Also, I may need to pull their credit again at some point, so any new inquiries will show up there (see #4! Once again, avoid opening any new accounts.) 

5. Get Homeowners Insurance Quotes  

Once your client has found the home they want, have them immediately start shopping for home insurance quotes - not having one can slow their loan process down and prevent correct calculations for their monthly mortgage payment. Clients may already have a carrier they trust, but if they need some assistance in getting quotes, I am happy to help!   

6. Be Flexible  

When your client first comes to you, they may have one idea of what they want; but when they learn more about their loan eligibility, they might find that a different home is a better fit. They may decide to pay a higher rate or put down more money than planned. Just remember that I have their best interests in mind and will help them pick the right loan for their needs now, and later. Homes are an investment, so I am always here to help them down the road.  

7. Be Patient   

Even if everyone works together perfectly, things out of our control can still happen. An appraisal comes back low; a seller refuses a request; an inspection finds that big repairs need to be made. If your client remains patient and “expects the unexpected,” they’ll be better able to go with the flow...right into their new front door! 

Atlantic Bay is ready to help you get your dream home. Call me today!