Real English Conversation - 75 : Mortgage loan
Listen to All
Alex: Hi, I'm interested in applying for a mortgage loan.
Agent: Hi Alex, I'd be happy to help you. What kind of property are you considering for the mortgage loan?
Alex: I'm looking to purchase a house for my family.
Agent: That's great. What's the estimated value of the property?
Alex: The property is valued at $500,000.
Agent: Okay. How much do you plan to put down as a down payment?
Alex: I can put down 20% of the purchase price.
Agent: Perfect. Do you have a preferred loan term in mind?
Alex: I'm thinking of a 30-year fixed-rate mortgage loan.
Agent: Great, we can definitely help you with that. Have you already applied for pre-approval?
Alex: Not yet. How do I go about that?
Agent: We can start by gathering some basic information from you, such as your income, credit score, and employment history.
Alex: I see. How long does the pre-approval process take?
Agent: It can take a few days to a week, depending on the complexity of your financial situation.
Alex: That sounds reasonable. What are the interest rates like for a 30-year fixed-rate mortgage loan?
Agent: The rates can vary based on market conditions, but I can provide you with some estimates based on your financial profile.
Alex: Okay, that would be helpful. Are there any other fees or costs I should be aware of?
Agent: Yes, there may be fees for the appraisal, credit check, and other closing costs. We can go over these in detail once you're further along in the process.
Alex: Alright, thanks for your help. I'll gather the necessary information and get back to you soon.
Agent: Sounds good, let me know if you have any other questions in the meantime.
What kind of property is Alex considering for the mortgage loan?
What is the estimated value of the property Alex wants to purchase?
How much is Alex planning to put down as a down payment?
What type of mortgage loan is Alex interested in?
How long does the pre-approval process usually take?