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Am I obligated to accept this offer? Answer |
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What information do you need to collect from me? Answer |
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What are your rates? Answer |
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Does having a co-borrower improve my chances of being approved for a loan? Answer |
| 5. |
What if i don't have an e-mail address? Answer |
| 6. |
What if i have less-then-perfect credit? Answer |
| 7. |
I live outside of California. Can I use your website to find a loan? Answer |
| 8. |
What if I don't want to give you my social security number? Answer |
| 9. |
How do lenders make credit decisions? Answer |
| 10. |
What are credit reports? Answer |
| 11. |
What is morgage APR? Answer |
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Am I obligated to accept this offer? |
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A
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You are in no way obligated to accept this offer until your final closing documents have been signed. There will be a three day recision period after these documents have been signed in which you will still have the right to cancel. |
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What information do you need to collect from me? |
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We ask questions about you, your loan and your financial situation (income, assets and debts). You may want to gather your pay stub or last year's tax return before you start completing the forms. If you're refinancing your mortgage or looking for a home equity loan or line of credit, we need to know about the terms of your current mortgage, how much you owe and how much you want to borrow. |
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What are your rates? |
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Rates constantly fluctuate, we can lock in your loan or leave it floating for up to 90 days. We will contact you with your qualifying rate after reviewing your application. We will match your criterion with the best loan package. |
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Does having a co-borrower improve my chances of being approved for a loan? |
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Including a co-borrower on your application may or may not affect your chances of finding a loan. Lenders will consider your credit reports, income, assets, debts and other information about both borrowers. |
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What if i don't have an e-mail address? |
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If you don't have an email address, you can get one for FREE through web-based services such as Yahoo!, Snap and HotBot. |
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What if i have less-then-perfect credit? |
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We can work with borrowers with perfect credit and not-so-perfect credit. Although we can't guarantee that you'll get a loan offer, we will try to match your loan request. |
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I live outside of California. Can I use your website to find a loan? |
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At this time, we only service requests for loans with properties that originate in California. |
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What if I don't want to give you my social security number? |
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We request your social security number to ensure that we receive accurate information from the credit reporting agency. We evaluate the information we receive in your application as well as the information contained within your credit report. For these reasons, we encourage you to enter correct information in the social security field. |
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How do lenders make credit decisions? |
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When lenders review a credit application, they look at three factors: a) credit history: how well you have paid debts in the past b) current obligations: how much money do you owe each month c) income and assets: how much do you currently earn and own. |
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What are credit reports? |
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Lenders generally rely upon credit reports to make decisions about an individuals credit history. The three major credit bureaus in the United States are Equifax, Experian and Trans Union.
A credit report contains four types of information:
a) identifying information: name, social security number, date of birth, employment history
b) credit information: credit accounts or loans with banks, finance companies, credit unions, credit cards, and retailers
c) public record information: bankruptcies, tax liens, monetary judgments, and delinquent child support
d) credit inquiries: which lenders you have recently applied for new credit |
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What is morgage APR? |
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When you apply for a mortgage, the lender is required to tell you the interest rate and the annual percentage rate, or APR.
The APR is designed to help you shop for loans by making them more comparable.
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