Questions to ask mortgage broker?

Hi all,

*Warning, this message is thin on the details*

I’m knew to investing and I’m looking purchase my first investment property some time next year. I’m still in the beginning stages of my financial education and the planning process.

Here is the thing…I know someone who not so long ago, worked as a mortgage broker. He’s heard of my goal to invest in property and has kindly volunteered to sit down with me TOMORROW and discuss the topic of finance, answering any questions I may have on the matter.

I don’t particularly feel ready to be asking advice from a mortgage broker as I haven’t yet ironed out my investment plans/goals. Never the less its a great opportunity and one I don’t wish to waste. So my query to you all is this… Is there anything you believe me as a beginner would benefit from asking or talking about with him? I know its very difficult to offer advice when you don’t know my situation etc so I’m more referring to possible “general questions”.

Obvious things I’m thinking about are
– Level of difficulty for someone in my situation to gain finance
– How much would I be eligible to borrow, taking into consideration my current employment situation as well as at the time I plan to invest.
– Pro’s and con’s (in Lamo terms) of Interest Only and I&P Loans.

So as I said, really basic. I just want to be clear heading and prepared when I speak to him, rather then looking like the complete amateur I am.

Thanks heaps in advance. for any help.