Application Survey
Borrower Contact Info
Contacts will be created in your CRM for both the Primary Borrower and Co-Borrower. You must provide contact information for the Primary Borrower, but Co-Borrower is optional.
Primary Borrower
This will be used for your loan file, if you create one.
Legal First Name will be used if left blank. This will be used in your CRM.
Can be home phone if borrower has no mobile phone.
This will be used for your loan file, if you create one. Borrower will use this to log into their loan application online.
Co-Borrower
All Co-Borrower fields, except Preferred Name, must be provided if there is a Co-Borrower.
Conversational Questions
The purpose of all these questions is to develop rapport with your new potential borrower. Below the questions are instructions and additional questions you should ask. In the boxes, write notes about what the borrower tells you.
Are you buying a new home, refinancing your current mortgage, or thinking about another option like an investment property or paying off debts?
You mainly want an answer to the questions above.
Optional. Only applies if the borrower is purchasing a home.
This helps you determine how quickly you and your Loan Partner need to work.
When would you like to have everything finalized with your loan and the home purchase or refinance? Do you want to close in a month, or 2 months, 3 months, etc?
If the borrower is already under contract, choose a date here.
If they are NOT under contract, choose a date based on what they told you.
If they don't have any info to give you, you can leave blank.
Will this be your main home, a second home, or an investment property? Do you already have a property picked out, or are you still looking? What purchase price range are you thinking about? How much of a down payment are you wanting to do?
Use this as an opportunity to tell the borrower about what you do and what products you offer.
Or would you like me to help explain the options? We have your typical options like Conventional loans, FHA loans, and VA loans. We have loans for people who use an ITIN (Individual Taxpayer Identification Number) instead of a Social Security Number. And we also have investment loans and commercial loans. We can do just about anything you can think of.
Choose Conventional if unsure.
These questions help to qualify if the borrower is capable of purchasing or not.
Do you know what your credit score is, even just an estimate? How much money do you make in a year? Do you have any other income that we should include? Do you have some money saved up for a down payment, and to cover closing costs?
These questions help you understand what documentation you might need to be able to issue a pre-approval.
Are you working for someone, running your own business, or retired? If you run your own business, how long have you been doing that?
If yes, provide notes below. When was the bankruptcy/foreclosure? What were the circumstances?
This is a major qualifying question.
You have to put in a specific number, but this is just an estimate or guess. It doesn't really matter. Put in something based on what the borrower told you.
If the borrower's credit is frozen, you will need to ask them to unfreeze it so that you can pull credit to complete their pre-approval.
If the borrower has a SS#, you can collect it now if you want to, but it's not needed. The main thing here is to find out if they have a SS# or ITIN or neither. If they do not have a SS#, but do have an ITIN, follow up with questions like those below.
If you’re applying with an ITIN, do you have your ITIN number and have you been using it for a while? Have you built up some credit using your ITIN, or would you need to show your credit another way? Are you able to provide proof of steady income for the last 2 years, like pay stubs, tax returns, or bank statements? How much money do you have saved for a down payment, keeping in mind that ITIN loans may require a larger down payment than other loans?
Some LOS don't provide birthday data in their integrations (ARIVE does not provide birthday year, for example). Go ahead and collect their full birthday so you have it on file.
These questions help to develop rapport, but can also help identify red flags. For example, if the borrower is planning to pursue a new career and plans to quit their job next week.
Like getting a new job or growing your family or anything? What's motivating you to pursue a loan? I want to make sure we plan and customize your loan to meet your current and future needs.
It's good to know if the borrower has a desired or goal interest rate, but it's very important to keep your borrower focused on the monthly payment. Don't fall into the interest rate trap.
Do you have a monthly payment maximum that you want to stay under? Do you have an interest rate % in mind that you want?
Showing concern for the borrower's concerns is key to making them feel taken care of, providing them with excellent customer service, and earning their referrals.
For example, are you concerned about the interest rate, monthly payments, providing documents, or paying for closing costs?
Always "talk up" the real estate agent to the borrower (if you can do so honestly). Tell the borrower "Oh yeah, X is a fantastic realtor. They will take great care of you!" This will go a long way in creating/nurturing a relationship with the real estate agent.
Are you already working with a real estate agent? Would you like help finding one? What about insurance or financial planning? Do you have anyone you're working with, or would you like any recommendations?
This is a place to put your own personal notes to be stored in your CRM. These notes will never be pushed into your LOS.
Referral Partner Info
These are Optional, but important fields. Provide the following info if one of your Referral Partners sent you this lead. If you already completed this when you filled out the New Lead Form for this contact, then you don't have to complete this again.
Next Step Decisions
Almost done! Make a few decisions below and then click the SUBMIT button.
Congratulations on your new lead!
Choose "No" if you do not have an Pre-Approval Specialist.
There are 4 different "Intro Email" templates in your email templates. Read through them and read through the options above before choosing the option you want. If you're not familiar with the email templates, choose NO. You don't want to send emails you're not familiar with blindly.
If you choose "Yes", the Credit Pull email template in your CRM will be sent to your borrower so they can pay for their own credit pull. You must have a custom Credit Pull URL in your settings for this to work.
Only choose "Yes" if the lead is NOT ready for pre-approval at this time.
If you choose "Yes", an opportunity will be created in the Cold Lead Converter pipeline for the lead, and they will be given the Cold Lead Converter drip campaign.