What to bring to your first mortgage meeting

This guide is useful whether you're meeting me or any other loan originator. The goal isn't to impress anyone — it's to get accurate information back. A mortgage professional can only give you realistic numbers if they understand your real situation, and you can only evaluate what they're telling you if you know your own numbers first.

There are three parts: the numbers you should have a rough sense of before you walk in, the documents you'll need to gather, and the questions worth asking any MLO at that first meeting.

Part 1 — Numbers to know off the top of your head

You don't need documents for this part. These are the rough figures that shape every conversation about what you can borrow.

Gross income

Your income before taxes. If you're buying with a partner or co-borrower, add both incomes. Know your base salary separately from variable income — lenders treat them differently.

If you work in tech: RSUs and bonuses are usable income, but with an important caveat — lenders require a 2-year history of receiving them and will average the past two years. A large RSU grant that just started vesting last year typically can't be counted yet. Know roughly what your last two years of W-2 Box 1 income looks like (base + bonus + RSU vest), since that's the number lenders will work from, not your current comp package or unvested equity.

Monthly debt payments

This is the one people most consistently underestimate. What counts as a "debt" for mortgage purposes:

• Car loans and leases
• Student loans (even if in deferment — lenders typically count 0.5–1% of the balance)
• Minimum monthly credit card payments (not your balance, just the minimum)
• Child support or alimony payments
• Any other installment loans

What does not count: rent, utilities, subscriptions, insurance, groceries. Those are living expenses, not debts in the DTI calculation.

Down payment available

How much you have set aside for this purchase — across all accounts. Don't subtract closing costs yet; that comes later. Just know the rough total you could deploy.

Credit score range

You don't need the exact number, but know roughly where you are. Under 620, 620–679, 680–739, 740+. If you don't know, annualcreditreport.com gives you a free report from all three bureaus, and most credit card apps now show your score for free.

Your credit score doesn't just determine whether you get approved — it determines your interest rate. The difference between a 680 and a 740 score can be 0.25–0.75% on your rate, which adds up to tens of thousands of dollars over the life of the loan.

Target price range and timeline

Even a rough answer helps. "We're thinking $700K–$900K, probably ready in 3–6 months" is enough to orient the conversation. If you have no idea on price, that's fine — that's often what the meeting helps you figure out.

Part 2 — Documents to collect

You won't need all of these at a first meeting — but if you're moving toward a pre-approval (which you should be, since it's what makes your offer credible), you'll need them shortly after. Getting organized now saves scrambling later.

Check off what you have and note what you still need to find.

Part 3 — Questions to ask any loan originator

A good loan originator should welcome these. If someone gets evasive, that tells you something.

About the rate and costs

• What's the difference between the interest rate and the APR? The APR includes fees; a low rate with high origination fees can cost more overall than a slightly higher rate with no points.
• Are you quoting me a rate with points, or without? "Points" are prepaid interest that lower your rate. Make sure you're comparing apples to apples with other quotes.
• What are your lender fees specifically? Ask for an itemized list of origination charges — application fee, underwriting fee, processing fee. These vary widely.
• Can I float the rate or should I lock, and why? Not looking for a prediction — looking for how they explain the tradeoff.

About the process

• How long does your pre-approval take, and what triggers the clock? A fully documented pre-approval requires document review. If someone says "instant," ask what they're actually verifying.
• Who underwrites my loan — you or a third party? Brokers send loans to lenders who underwrite; bankers underwrite in-house. Each has tradeoffs for speed and flexibility.
• What's a realistic timeline from pre-approval to closing? 30 days is common; 45–60 is more comfortable. Know what you're signing up for.
• What's the most common reason a loan falls through at your shop, and how do you prevent it? Good operators have a direct answer to this.

About your specific situation

• What loan types am I likely to qualify for, and which would you recommend and why?
• Are there any red flags in my profile I should know about before we go further?
• What would happen to my rate and payment if I put down 5% vs 10% vs 20%?

Educational purposes only. Loan programs vary. Not legal, tax, or financial advice. Contact me for individualized guidance.