What information should be confirmed with a client during an initial meeting?

During an initial meeting with a client, confirming details about the property they are trying to obtain a loan for is crucial. This information allows the mortgage professional to assess the client’s needs accurately and understand the context of the loan application. The specifics of the property, such as its location, type, value, and condition, play a significant role in determining loan eligibility and the best mortgage products to consider.

Knowing the property details also helps in assessing the risk associated with the loan, which is essential for both the lender and the borrower. It allows for a more tailored approach to meet the client’s financial goals.

While other factors, such as employment history, preferred payment schedules, and previous loan terms, are important and will be addressed later in the process, understanding the property specifics is foundational. It directly impacts the loan process and the client’s overall mortgage experience.