What Questions Do Lenders Ask in Southern Maryland Home Mortgage Applications?

Thinking about talking to a lender can feel a little like being called into the principal’s office: “What are they going to ask me? What if my answer is ‘wrong’?” In reality, the better way to look at it is, “What are lenders going to ask me so they can figure out the best loan option for my situation?”

As a buyer in Southern Maryland, knowing those questions ahead of time makes that first call feel a lot less intimidating.

 Expect questions about your income and employment

Lenders will ask where you work, how long you have been there, and how you are paid (salary, hourly, commission, self‑employed, etc.). They are trying to understand how stable and predictable your income is—not judge your career choices. In this region, many buyers work in government or contractor roles, which lenders are very used to seeing.

 Expect questions about your debts and monthly obligations

You will also be asked about your existing monthly payments—car loans, student loans, credit cards, personal loans, and so on. Lenders use this to calculate your debt‑to‑income ratio, which helps determine what payment range is responsible and realistic for you.

 Expect a look at your credit history

With your permission, lenders will pull your credit. They will look at your score and your history of payments, balances, and accounts. One past mistake usually does not define you; they are looking at the overall picture, not one line item. Being upfront if there are any issues gives them a chance to work with you.

 Expect questions about savings and comfort level

You will likely be asked how much you have saved for a down payment and closing costs, and what monthly payment you feel good about—not just what a calculator might say. In Southern Maryland, where taxes and HOA fees can vary, that comfort number is just as important as your official “approval” amount.

 People also ask

“Do I need every financial detail figured out before I call a lender?”  

No. That first conversation is often where you get clarity. Just be ready to talk honestly about your income, debts, and goals.

“Will one late payment ruin my chances?”  

Usually not. Many, many people have a late payment somewhere in their history. Lenders care more about patterns and recent behavior.

If you want help getting ready for that first lender conversation—and someone to translate what you hear into normal language—you can reach out to Amanda Holmes for guidance before you apply.