06/14/2025
π What Every Buyer Should Know When They Get a Pre-Approval:
Estimated Closing Costs
Buyers should never be surprised at the closing table.
Loan officers must outline down payment, prepaid items, escrow, title fees, etc.
Monthly Payment Breakdown
Principal, interest, taxes, insurance (PITI) β and if applicable, HOA dues or mortgage insurance.
Loan Program Details
Is it FHA, VA, USDA, or Conventional? Fixed or ARM?
Buyers deserve to know why that loan was selected and what the real trade-offs are.
Loan Terms
Interest rate, loan length, amortization schedule, prepayment penalties β these are not optional details.
Other Loan Options
Buyers should be shown multiple options if they qualify: different term lengths, down payment structures, or even temporary buydowns or rate lock strategies.
Down Payment Assistance / Seller Credits
Not every buyer knows about DPA programs or that sellers can help with costs. Itβs on the LO to explain it clearly, early, and often.
You're setting the standard for what responsible lending should look like. Loan officers who educate first and sell second earn trust β and repeat business.
India Zeno
Loan Officer | NMLS #2035389
409.932.0202
OC Home Loans | NMLS #1842513
π’ Pre-approvals with purpose. Letβs do better in 2025.
βοΈ Ok bye.