Frequenty Asked Questions

What do I need to take with me when I apply for a mortgage loan?

If you have everything with you when you meet with your lender, you will save both of you time.

• California Driver License or Identification Card
• Social Security card
• Pay stubs for the past 2 months
• W-2 forms for the past 2 years
• Tax returns for the past 2 years
• Recent bank statements
• Proof of any other income

Who can qualify for FHA loans?

Anyone who meets the credit requirements, can afford the mortgage payments, required down payment, and who plans to occupy the property as a primary residence may apply for an FHA loan.

How do I know if I can get a mortgage loan?

A good start is to use our mortgage calculator to see how much you can afford. If it does not look like you can afford the cost of homes in the area, don't give up. We can help you evaluate your loan potential.

What is an escrow account? Do I need one?

An escrow account is set up by your lender to set aide a portion of your monthly mortgage payment to cover annual costs for homeowner's insurance, mortgage insurance (if applicable) and property taxes. Some loans require an escrow account. It is a good idea to have one so the funds are available for these payments.

How can I reach the credit bureaus if I find a mistake on my credit report?

Simple mistakes are corrected easily if requested in writing to the reporting agency.