Top questions to ask a San Francisco mortgage broker before pre-approval. Learn what to expect from a smart pre-application discovery interview,
Learn what to expect from a smart pre-application discovery interview.
BROKER’S EDGE – Smarter Real Estate Lending
Shopping for a mortgage shouldn’t feel overwhelming — yet for many borrowers, it does.
Between online rate ads, conflicting advice, and rushed pre-approval letters, it’s easy to move forward without fully understanding what’s realistic, what’s risky, and what’s missing.
A Pre-Application Discovery interview is designed to change that. Here is your San Francisco Mortgage Broker | Pre-Approval Questions Guide
Below are the most important questions borrowers should ask their San Francisco loan officer or Mortgage Broker, along with what you should expect to walk away with after a thorough Mortgage Strategy Consultation.
Why Should I Work With You?
This is the first — and most important — question.
I’ve been originating residential and commercial real estate loans for over 35 years, helping many different types of borrowers finance many different property types. Longevity in this business isn’t accidental. San Francisco mortgage brokers who don’t close loans don’t stay in the business long. Check GOOGLE and YELP reviews to see the type of loan professional you may want to have in your corner negotiating your loan.
More importantly, experience allows me to anticipate issues before they become problems — not after you’re already in contract.
What Should I Walk Away With After Our Initial Consultation?
After a proper Pre-Application Discovery interview, you should have clarity on:
- What loan amount is very likely to work — and why
- What interest rate options realistically apply
- Estimated upfront costs, closing costs, and monthly payment
- Potential obstacles and how to address them
- How your pre-qualification applies specifically to San Francisco and Bay Area markets
- What documentation will likely be required
- Whether your questions were fully answered
- Whether you feel comfortable working with me
That final point matters most.
Once you can commit to me, I can commit to you.
When Is My Credit Pulled?
Credit reports are necessary — but timing matters.
I do not run credit until:
- You’re ready
- And you explicitly authorize me to move forward
There are free credit report options I can recommend that don’t impact your score and help us discuss realistic pre-qualification numbers before making anything official. Specifically, the number of tradelines you have open, the monthly payments from any debts and your payment history. Score is important for some loan programs, but is only one of several factors considered.
What Is Opt-Out Pre-Screening — and Why Does It Matter?
Opt-Out Pre-Screening is a critical but often overlooked step.
Once credit is pulled, borrower information can be sold to third parties, triggering:
- Robocalls
- Texts
- Emails
- Mail solicitations
Many of these offers over-promise and under-deliver — sometimes resulting in bait-and-switch scenarios late in the transaction. I help clients opt out early to protect them from this. As I made the personal mistake of NOT opting out a few years ago on my own loan application, I promise you that you will be annoyed as well if you overlook this step.
What Paperwork Will Be Required — and Why?
Lenders want to confirm one thing:
Your ability to repay the loan.
After our consultation, I’ll provide a clear list of required documentation so there are no surprises later.
How Do Rates, Costs, and Monthly Payments Work Together?
Just like buying a car, mortgage decisions come down to:
- How much down?
- How much per month?
We review:
- Upfront costs
- Closing costs
- Monthly payment expectations
So you understand the full financial picture — not just the rate.
Affordability vs. Pre-Qualification: What’s the Difference?
These numbers don’t always match.
- Hidden expenses can reduce affordability
- Hidden income or assets can increase it
Part of my job is identifying both — so you don’t overextend or underestimate your buying power.
How Long Does a Pre-Qualification Last?
Once paperwork is collected and reviewed, pre-qualifications typically last about 90 days and are easily renewed with updated documentation.
How Are You Compensated as a San Francisco Mortgage Broker?
Compensation can occur in three ways:
- Paid entirely by the lender
- Paid entirely by the borrower
- A combination of both
Depending on the loan, compensation is typically 1–2% of the loan amount. On a $1,000,000 loan, that may be $10,000. 2% is usually on much smaller loan amounts.
I only get paid when loans close — which means our interests are aligned.
How Much Do I Qualify For?
I review:
- Employment
- Income
- Credit
- Assets
- Potential Property types
We can discuss estimated numbers early, with full qualification supported by a completed loan application and documentation.
What Loan Types Are Available?
Most residential properties qualify for 30-year fixed-rate financing, but depending on property type, credit, and goals, other options may be better — or necessary. I’ll guide you through those choices.
Most commercial properties qualify for shorter term financing (5-, 7- and 10-Year terms amortized for 25 years), but there are exceptions. Apartment loans are often 30-year amortizations. SBA loan terms are often 25 years and there are some unique lenders offering 30 -year fixed loans for apartments and mixed-use buildings.
Should I Shop Around?
You should — and I do that for you.
As a San Francisco mortgage broker, I shop multiple lenders to find the most appropriate loan options. Sometimes that requires narrowing specifics so we’re comparing real solutions, not marketing headlines.
Why Do Bank Pre-Approvals Sometimes Fall Apart?
Large banks issue a high volume of pre-approvals based on minimal review. They also reject 20–25% of applications later.
That’s when borrowers call me — often under tight deadlines.
My approach prioritizes verification and strategy upfront, so your financing holds up when it matters most. There is also an advantage to having a Pre-Application Mortgage Interview to ensure that Mortgage Professional is the right fit for you.
Final Thought: Trust Matters
I believe I am the best option as your Residential and Commercial mortgage broker here in San Francisco— but what matters most is that you believe it too.
When you commit to me, I’m committed to getting your loan to the finish line — with honesty, transparency, and accountability.
🔎 BROKER’S EDGE – Smarter Real Estate Lending
🤝 Looking out for your Best Interest, and Helping Homeowners, Investors & Small Business Owners since 1990
📞 Steven Hook | Residential & Commercial Loan Broker 415-260-9376
🎓 MBA | CMPS | CMA
👉 Schedule a Call
🌐 SanFranciscoLoanOptions.com
🌐 shook@Uamco.com or smhloans007@gmail.com
🆔 NMLS #303544 Ca DRE #00987187
This content is provided for informational purposes only and is not a loan commitment or guarantee of financing. Loan programs, rates, terms, and conditions are subject to change and borrower qualification. Individual results may vary.
