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What to Expect From Your First Meeting With a Lender

  • Writer: Shana Hamilton
    Shana Hamilton
  • Sep 4
  • 2 min read
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For many first-time buyers, meeting with a lender is the official start of the homebuying journey. It can feel intimidating, but knowing what to expect will help you feel prepared and confident. Here’s a breakdown of what happens in that first meeting and how to get the most out of it.


Step 1: Discuss Your Goals

The lender will start by asking about your homebuying plans:

  • What price range are you considering?

  • How much do you have saved for a down payment?

  • Are you looking for a starter home, investment property, or forever home?

This helps the lender understand your situation and recommend the best loan options.


Step 2: Review Your Financial Picture

Be prepared to talk about your:

  • Income – Pay stubs, W-2s, or tax returns.

  • Debts – Student loans, car payments, or credit cards.

  • Assets – Bank accounts, savings, or retirement funds.

  • Employment History – Lenders like to see stability over the past 2 years.


Step 3: Credit Check

Your lender will pull your credit report to see your score and history. This helps determine what types of loans you qualify for and the interest rates you may receive.


Step 4: Learn About Loan Options

The lender will explain different mortgage types, such as:

  • Conventional Loans

  • FHA Loans

  • VA Loans

  • USDA Loans

You’ll also learn about down payment requirements, interest rates, and how these choices affect your monthly payments.


Step 5: Get Pre-Qualified or Pre-Approved

  • Pre-Qualification: An informal estimate of how much you may be able to borrow.

  • Pre-Approval: A stronger commitment from the lender after reviewing your documents and credit. Sellers take pre-approvals more seriously when considering offers.


Tips to Prepare for Your First Meeting

  • Gather financial documents in advance.

  • Check your credit score and correct errors.

  • Be honest about your finances — transparency helps lenders guide you better.

  • Prepare questions about loan programs, fees, and timelines.


Final Thoughts

Your first meeting with a lender is about more than just numbers. It’s the foundation of your homebuying journey, giving you clarity on your budget and helping you understand the path ahead.

 
 
 

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