Before you can file for a mortgage loan, most lending companies and banks will require you to fill out a mortgage questionnaire first. This form works like a customer service survey, but the financial information you enter here are often used to help determine whether you get a loan or not.

Hence, mortgage questionnaire forms are also classified as business use questionnaires. In this article, we will further discuss what a mortgage questionnaire form does and provide you with tips for successful mortgage loan application. You will also find seven examples of mortgage questionnaire forms below that you can download and study with.

Client Mortgage Questionnaire

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Size: 86 KB

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Mortgage Endowment

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  • PDF

Size: 253 KB

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Financial Mortgage Questionnaire

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  • PDF

Size: 90 KB

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What is a Mortgage Questionnaire?

A mortgage questionnaire is a set of questions geared towards assessing an individual’s eligibility for a mortgage loan. The physical paper in which the questions are printed on is called a mortgage questionnaire form. Each bank or lending firm will have their own set of questionnaires so make sure to ask them for the right form.

Mortgage questionnaire forms primarily serve as a preliminary tool used by creditors in evaluating a prospective client. You may have to fill out multiple mortgage questionnaires before you find a company who will approve your application. To increase your chances on submitting a successful application, we have enumerated some tips on the last part of this article.

The Advantages and Disadvantages of Questionnaires

As with all sample questionnaire forms, there are different sides to using mortgage questionnaires. Here are their pros and cons:

Advantages:

  • Shortens the mortgage loan application process
  • Will include all the necessary information that a creditor needs to know about the potential client and his finances
  • Creditors can give results (approval or disapproval of loan application) quickly
  • Collective results may be used as a form of market research (with respondents’ consent)

Disadvantages:

  • Filling out the form does not assure loan approval
  • Questionnaires can be rigid and may not allow customized answer
  • Impersonal interaction with the lending firm
  • Applicants may have tendency to be untruthful
  • Applicants may not have someone to ask for clarifications with if they have questions that they do not understand.

Mortgage Questionnaire in PDF

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Size: 58 KB

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Estate Planning Questionnaire

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  • PDF

Size: 159 KB

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Sample Mortgage Questionnaire

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  • PDF

Size: 492 KB

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Mortgage Questionnaire Guidelines

  • Be truthful and consistent. Answer your mortgage questionnaire form just like how you would answer financial questionnaire forms. You need to be honest with your financial capabilities since companies will verify any piece of information that you provide.
  • Questionnaires may ask personal questions. As per new mortgage lending laws, creditors are required to properly assess a person’s financial status and habits before they can approve a loan application. So be prepared to be asked about your detailed spending habits and hobbies.
  • Remember that mortgage questionnaires does not guarantee you a loan. Filling out a questionnaire is the first step of the loan application process. Companies will still need to review your application. You may have to fill out these different questionnaires from different firms before your application gets approved.
  • Inform the lending firm if there are any changes to your financial status. Most mortgage questionnaire forms will include Yes or No boxes that you have to tick off depending on your answer. You may also have to fill out pertinent financial data. If certain changes occur in your life that affected the information you’ve listed (like getting a raise), inform the lending firm right away since this may affect your application’s approval.
  • Ask questions. If you do not understand some items on these free questionnaire forms, always ask your mortgage broker or agent. They will explain it to you to ensure that you provide accurate information.

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