Getting a Loan to Buy a Home? Expect Questions, LOTS of them from the Lender

These days it’s very typical for lenders to have LOTS of questions and require lots of documentation from buyers using a loan to buy a home.

Buyers can be surprised at how much information is required, and how many questions are asked, how much documentation is required but this is the new “normal” and here’s what you need to know if you’re planning to buy a home:

– It doesn’t matter how awesome your credit is, lenders will still require documentation and have questions

Be prepared to explain any gaps in employment, changes in marital status (yes, even divorce documentation)

Your current employment WILL be verified usually right before closing. Do not change or quit jobs!

NO large purchases, deposits or withdrawals!!! You will be required to provide bank statements

– The underwriter can and probably will ask questions and require additional information, which become conditions that must be met before you can get an approval

If it’s been a while since you’ve bought a home, it can feel overwhelming but just know the lender’s giving you a lot of $$$$ and they want to make sure you’re a good risk to follow through on your promise to pay….so they have lots of questions!

The best thing you can do before you’re under contract to buy a home is to choose an exceptional loan officer as your mortgage partner and have as much documentation in before you ever make an offer to buy a home!

Need a local Charlotte area loan officer? I have several fantastic ones and my top two are the amazing Kelly Waugh with Fairway Mortgage (she’s direct, super knowledgeable and excellent at client care/communication) and Patti Galloway with CFL Mortgage (she’s also very client care focused, excellent service and knowledge)

What questions do you have about the home buying process? Email me at and I’ll be happy to assist!

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Copyright©2013 by Diane McDermott, All Rights Reserved, “Getting a Loan to Buy a Home? Expect Questions, LOTS of them from the Lender”

The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in Charlotte NC’s real estate market serving neighborhoods in Charlotte NC

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About dianemcdermott

Diane is deeply passionate about serving single and divorced women home buyers, first time home buyers and new to the area buyers navigate the Charlotte area home buying process. Having navigated separation and divorce she has immense respect for the stress of transition and need for a home living situation that supports and nurtures. She connects and guides clients as they navigate the home buying process, transitioning to a space they'll love calling home. McDermott Real Estate
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