Initial Consultation

- The initial consultation is the very first and most important step in the mortgage process, as it sets the foundation for the entire journey.

- During this stage, the mortgage professional meets with the client—either in person, over the phone, or virtually—to understand their financial goals, needs, and current situation.

- This discussion typically covers the client’s purpose for the loan (such as purchasing a new home, refinancing, or tapping into equity), their budget, income, assets, credit history, and any potential challenges that might affect their application.

- The mortgage expert will also explain the different loan programs available, the qualification requirements, and the overall process from application to closing.

- This is the client’s opportunity to ask questions, gain clarity, and receive guidance on what documentation will be needed to proceed.

- By the end of the consultation, both parties have a clear understanding of the next steps, ensuring the client feels confident and informed before moving forward in the mortgage process.