How to create a mortgage questionnaire (free template included)

I love collecting information from clients — said no one ever.

But here’s the truth: gathering the right information is crucial for something as significant as a home loan. 

The good news is that you can streamline the process using a comprehensive mortgage questionnaire. In this post, we’ll walk you through the questions that should be in your home loan questionnaire (and yes, we’ve even included a free template to get you started). 

Let’s dive in!

Why would you create a mortgage questionnaire?

Lenders and financial institutions don’t have to use a home loan questionnaire, but it comes in handy if you’re frequently gathering information from potential borrowers.

A well-designed questionnaire practically eliminates back-and-forth communication between the mortgage lender and borrower by standardizing the data collection process. That’s the most important advantage, but you’ll notice other benefits:

• Data accuracy: Home loan questionnaires increase data accuracy. They encourage borrowers to provide detailed information about their financial situation, which reduces the likelihood of errors or discrepancies in the application.

• Improved decision-making: Mortgage questionnaires help you evaluate the borrower’s financial capacity, creditworthiness, and risk profile. 

• Tailored loan offerings: With enough information at your disposal, it’s easier to tailor loan offerings and meet the specific preferences of your clients. 

• Risk mitigation: The questions you ask can help identify any red flags or factors that may increase the risk of default.

We can add a few more benefits to the list, but it’s already clear that home loan questionnaires are a must for agile lenders. Now it’s time to see the actual questions that should be in your template. 

40+ questions to include in your home mortgage questionnaire

Applicant information

1. Full name

2. Date of birth

3. Current address (street, city, state, zip code)

4. Phone number

5. Email address

6. Citizenship

Employment details

7. Position/job title

8. Employer name

9. Employer address

10. Employer contact information (phone, email)

11. Employment duration

12. What is your gross monthly income?

13. Do you have any additional income sources? 

If yes, please specify the type and amount for each income source.

14. Employment type (full-time, part-time, self-employed, contract)

15. Do you anticipate any recent changes in your current employment status?

If yes, please provide details.

Financial information

16. What is your total annual income (all sources included)?

17. What are your total monthly expenses?

18. Do you have any savings and investments?

If yes, please provide details.

19. What is your current credit score?

Please upload the official credit score report. 

20. Do you have any assets such as real estate, vehicles, collectibles, and similar?

If yes, please provide details.

Current loans and debts

21. Do you have any outstanding loans or debts? These can be other mortgages, personal loans, credit card debts, medical bills, and similar.

If yes, please provide details for each (debt type, amount, lender name). 

22. Do you have any co-signers or joint debtors?

If yes, please provide details.

23. What is the minimum monthly payment associated with your loans?

24. Do you have any collateral to secure your current debts? 

If yes, please provide details.

Property details

25. Property address (street, city, state, zip code)

26. Type of property (residential, commercial, industrial)

27. Year built

28. Purchase price

29. Estimated property value

30. Property size (square footage or acres)

31. Property features (garage, pool, yard, etc.)

Mortgage requirements

32. Down payment amount

33. Preferred mortgage type (fixed-rate, adjustable-rate, other)

34. Desired loan term (10 years, 15 years, 20 years, 25 years, 30 years)

35. What is your maximum comfortable monthly payment for the mortgage?

36. What are your preferences regarding the interest rate for the mortgage?

37. Will you be applying with a co-borrower? 

If yes, please provide details (name, address, email).

38. Are you eligible for any special mortgage programs (first-time buyer, veteran, etc.)?

39. Are there any specific mortgage features you are interested in, such as prepayment options, interest-only periods, or similar? 

40. Have you been pre-approved for a mortgage? 

If yes, please provide details.

41. Do you have any other mortgage preferences or requirements?

If yes, please provide details.

Build your home loan questionnaire with the best tool

Now that you know which questions to add to your questionnaire, you’ll need a proper form builder to create a template. Our suggestion is to use Content Snare, a data-gathering tool that will make mortgage applications a simple process for you and your clients.

For one, it comes with a ready-made mortgage questionnaire template. This is an excellent starting point as you can quickly customize the template or even send it to your clients as-is.

“Content Snare helps me mitigate or avoid tasks that I deeply dislike: Having to chase after, beg, cajole, babysit, sift through multiple emails to find what I'm looking for, re-explaining what I need from a client, and spending so much time emailing.”

Quote source: G2 user reviews

Form instructions are the second benefit — you can add explanations and examples to every section or question to assist borrowers in providing the right information. If that’s not enough, your clients can post comments or ask questions in the questionnaire itself, so you can provide additional instructions. 

Content Snare offers lots of other form-building features, but we don’t want to brag about it too much — you can test it and see the benefits yourself. Just sign up for free and enjoy your two-week trial.