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Important Questions for St. Louis Buyers to Ask Their Loan Officer

Apr 6, 2021 | Industry News

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If you’re getting ready to buy a home in St. Louis, working with a loan officer can help streamline the process. Whether you’ve just started searching or are ready to get pre-approved, it’s never too early to reach out and get some information. Here are a few questions you might want to ask to get the conversation started:

What should I expect from the process?

By asking your loan officer to give you an overview of the process, you ensure your expectations are aligned. They can let you know about how long the process might take, tell you about any important deadlines, and help you map on what you’ll need to do and when.

What are my loan options?

The more you know as a homebuyer, the better. And the more information you share with your loan officer, the better they can guide you through the process. By explaining your situation in detail, you can then ask your loan officer which loan options are available to you. Certain people may qualify for different loans, and it’s so important that borrowers understand all their options before diving in.

How much of a down payment will I need to put down?

Some many borrowers make assumptions about down payments without ever really getting the facts. This is certainly something you’ll want to talk through with your loan officer. Again, depending on your personal situation and financial goals, sometimes there are different options here that will make more sense for you. Making sure you understand how much you’ll need to put down is key.

What is the interest rate?

It’s also important to get information about the interest rate. What is the rate? And is it fixed? Talking these things through with your loan officer is an important step. Taking out a mortgage is a big decision, and it’s important that borrowers understand what that will mean for them in the years to come.

What are the fees?

Finally, it’s important for borrowers to be prepared for the fees that go along with getting a mortgage and buying a home. There can be several unexpected expenses, and talking to your loan officer about these in advance can keep them from being an unpleasant surprise. Borrowers will want to be prepared for these expenses and budget accordingly, so it’s wise to get clarity here.


A great loan officer will naturally guide you through these questions, but it’s important as a borrower to ensure you cover all your bases. Going into a meeting with your loan officer with a list of questions is totally acceptable - they’re there to help you through the process. Are there any other questions you think borrowers should be sure to ask? Share them with us!

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