- How long will it take to process the loan
- Your loan could take between 30 – 45 days before it becomes final.
- What do I need to start the loan process?
- You will need the following:
2 years federal tax returns
1 month of latest pay stubs
Your drivers’ license and social security card
2 years of w2 forms and 2 months bank statements
Download and complete our Loan Application Loan Application
Check your approximate monthly payment and complete our Application From
- Is there a loan minimum or maximum
- You qualify for the loan amount based upon the following:
Income to debt ratio
Your credit score
- How many years experience do you have
- California has licensed Sal (Loan Logic Financial) since 1979 and has been securing Real Estate loans since then. Sal has also taken many courses in continued education and has kept current with the latest in the real estate industry, to better help his clients. Sal has also received his NMLS Certification.
- How much do I need for a down payment for my loan
- Your minimum down payment required depends on the type of loan you are looking for. With a VA loan, there is no down payment required. For your FHA loan, you would need at least 3 1/2% down, and finally, a conventional loan would need at least 5% down.
- What is the difference between an FHA and Conventional loan
- The differences would include, income, credit rating, and down payment amount. A credit score below 680 and a down payment of less than 5% you could look into securing an FHA loan. call Sal to find out more details at 714-608-0955.
- For a new mortgage payment must I sell my existing home
- Yes, No and Maybe…
If you are in a financial position where you are qualified to afford both your current residence and the proposed payment on your new house, then the simple answer is YES!
call Sal to find out more details at 714-608-0955. - Thanks for trying to find what you need to know!
- call Sal to find out if he can get the loan you need at 714-608-0955.
All Information deemed reliable, but Not Guaranteed. Need answers to another question? For more up-to-date information please, Call Sal Today…714-608-0955 or Complete our Contact Form. If your Question is not above, then Please enter your question in the comments box of the form below, thank you.