What are mortgage survey questions?

Mortgage survey questions are survey questions asked by financial institutions or government organizations to collect opinions on topics such as mortgage process, their knowledge about getting a mortgage, their experience with the lending institution and their satisfaction on the services that were offered to them. It enables these institutions to understand the benefits and problems associated with mortgages and owning a home.

For example, a government institution wants to understand what the borrowers think, experience and relate to the mortgage process. In such a case, a mortgage survey template can help the organization to collect information from the target audience. It will help them understand the level of knowledge the audience has about mortgages, awareness about the terminologies, the challenges and concerns the borrowers face.

Top 30 Mortgage survey questions for questionnaires

Following are the most frequently used survey questions related to mortgages. When used with good research design, these questions can be very helpful to financial and lending institutions to understand their customers better.

  1. Considering your complete experience, how likely are you to recommend mortgage to your family or friends?
  2. Have you ever been taught about how mortgages work?
    1. Yes
    2. No
  3. Where did you learn about mortgages?
    1. In school
    2. In college
    3. Private financial institution seminar
    4. Government awareness seminar
    5. Other (please specify)
  4. On a scale of 1 to 5, how knowledgable are you about mortgages?
  5. In the past 3 years, did you have a mortgage loan?
    1. Yes, I had or still have at least one
    2. No, I do not have any mortgage loan
  6. Please select the reason for getting a mortgage loan (the most recent one)?
    1. To buy a property
    2. To add/remove a co-borrower
    3. To take a new loan on a mortgage-free property
    4. To finance a construction loan
    5. To refinance an existing mortgage loan
    6. Other reason (please specify)
  7. What was the type of property you got the mortgage for? (You can select more than one)
    1. Single-family detached house
    2. Mobile home
    3. 2 unit, 3 unit or 4 unit dwelling
    4. Apartment
    5. Unit in a partly commercial space
    6. Townhouse, row house or villa
    7. Standalone bungalow
    8. Other (please specify)
  8. Do you think the monetary value of the property you got the mortgage for, has been appreciated?
    1. Yes
    2. No
    3. Don’t know
  9. In your opinion. What will happen to the prices of the properties in your neighborhood?
    1. It will appreciate a lot
    2. It will appreciate a little
    3. It will remain constant
    4. It will depreciate a little
    5. It will depreciate a lot
  10. Did you face any of the following challenges which made it difficult to pay for the mortgage?
    1. Job loss
    2. Retirement
    3. Divorce or separation
    4. Business shutdown
    5. Illness or increase in medical expenses
    6. Death of someone in the family
    7. Payments of other mortgages
    8. Other (please specify)
  11. When you faced difficulties to make the payment for your mortgage, did you speak with a professional housing counselor?
    1. Yes
    2. No
  12. Please state if any of the following is the reason you no longer have a mortgage now?
    1. I felt renting is a better option than buying a home
    2. I found lower interest rates
    3. Got divorced or separated
    4. Moved in closer vicinity to family, parents, etc
    5. House maintenance was too expensive
    6. Death of a household member
    7. Others (Please specify)
  13. Do you think it is possible to buy a home with a down payment of less than 10%?
    1. Yes
    2. No
  14. How much percentage of your monthly gross income should be spent on housing expense plus debt payment?
    1. 34%
    2. 43%
    3. 51%
    4. 62%
    5. Don’t know
  15. With what length of mortgage do you pay the least amount of interest over the life of a mortgage?
    1. 10 years
    2. 15 years
    3. 20 years
    4. 30 years
    5. Don’t know
  16. How many lending institutions did you do a comparison for, before getting a mortgage?
    1. 1
    2. 2
    3. 3
    4. 4
    5. More than 4
  17. How did you find the financial institution or the lender to get a mortgage from?
    1. Current bank
    2. A friend or a colleague
    3. Internet research
    4. Real estate agent
    5. Government initiative
    6. Other (please specify)
  18. What type of mortgage lenders did you visit before choosing the final one?
    1. A mortgage broker
    2. Credit union
    3. Mortgage bank
    4. Local bank
    5. Large bank (Eg: Bank of America)
    6. Other (please specify)
  19. Do you agree with the statement: You got the best deal for your mortgage.
    1. Strongly disagree
    2. Disagree
    3. Neutral
    4. Agree
    5. Strongly agree
  20. Please state your level of agreement for the statement: Mortgage is the best solution when buying a home.
    1. Strongly disagree
    2. Disagree
    3. Neutral
    4. Agree
    5. Strongly agree
  21. What changes did you see in your interest rate, since the time you got the mortgage until you closed it?
    1. The rate of interest increased
    2. The rate of interest decreased
    3. The rate of interest was constant
  22. On a scale of 1 to 10, 10 being the most challenging, please state how challenging were the following parts in the mortgage process?
    1. Mortgage terminology
    2. How the mortgage program works
    3. Understanding of the closing costs and rate of interests
    4. Eligibility criterion
    5. Paperwork and documentation
    6. Overall mortgage process
  23. Please state your level of agreement for the following statements: (Answer options: Strongly disagree, disagree, neutral, agree, strongly disagree)
    1. My mortgage lender is completely trustworthy
    2. My mortgage lender is very knowledgable
    3. I am extremely satisfied with my mortgage lender
  24. On a scale of 1 to 7, 7 being the most important, how important were the following points when choosing a mortgage lender?
    1. Lowest interest rate
    2. Lowest monthly payment
    3. Recommendation
    4. Online reviews
    5. Best customer service
    6. Lowest closing costs
    7. Other (please specify)
  25. Considering your latest experience, when do you think you would get another mortgage?
    1. 1-2 years
    2. 3-5 years
    3. 6-8 years
    4. 8+ years
    5. Never
  26. What is your current marital status?
    1. Married
    2. Separated
    3. Divorced
    4. Never married
    5. Widowed
  27. What is your highest level of qualification?
    1. Schooling
    2. High school graduate
    3. Technical school
    4. Undergraduate
    5. Postgraduate
    6. Doctorate
    7. Other (please specify)
  28. Please state your level of agreement for the following statements:
    1. Owning a home is a good decision financially
    2. Most of the mortgage lenders are very supportive
    3. Late payments do not have an impact on credit ratings
    4. You can stop making mortgage payments whenever you feel like
  29. In the next couple of years, how much change will occur for the following points? (Answer options: significant increase, little increase, no change, little decrease, significant decrease)
    1. Household expenses
    2. Medical expenses
    3. Housing expenses
    4. Non-housing expenses
  30. Please state if you have any questions, concerns or comments regarding mortgages?