Questions to Ask Your Mortgage Adviser Before Your First Viewing

Before you start viewing homes, meet with a mortgage adviser and ask these essential questions.

Budget Questions

• What's my maximum borrowing capacity?
• How much down payment do I need?
• What are ALL my closing costs?
• What's my realistic maximum budget including all costs?

Mortgage Questions

• What interest rates am I eligible for?
• Should I choose fixed or variable rate?
• What loan terms are available (15, 20, 30 years)?
• What's the monthly payment at different loan amounts?

Program Questions

• Am I eligible for NHG mortgage guarantee?
• Are first-time buyer programs available?
• What tax benefits apply to homeowners?
• Are there subsidies or grants I qualify for?

Strategy Questions

• Should I make a larger down payment to lower rate/payment?
• What happens if my financial situation changes?
• Can I lock in an interest rate?
• What's your fee structure and transparency?

Get It in Writing

Ask for a pre-approval letter stating your maximum loan amount. This is your guidance for viewing homes and making offers. Don't view homes beyond this amount.

Timing

Meet with adviser BEFORE your first viewing, not after. You'll view homes smarter knowing exactly what you can afford.

Frequently Asked Questions

Why should I meet a mortgage adviser before viewing homes? So you view homes smarter, knowing exactly what you can afford — meeting an adviser after you've started viewing means you may fall in love with homes outside your budget.

What should I ask about my budget? Your maximum borrowing capacity, how much down payment you need, all your closing costs, and your realistic maximum budget including everything.

Should I get anything in writing from my adviser? Yes — ask for a pre-approval letter stating your maximum loan amount, which becomes your guide for viewing homes and making offers.

What program-related questions should I ask? Whether you're eligible for the NHG mortgage guarantee, first-time buyer programs, applicable tax benefits, and any subsidies or grants you might qualify for.