Financing Guide

Start a Green File
A Green File contains all of your important financial documents, including bank statements and accounts, investments, credit cards, loans, pay stubs, tax returns, etc. It is important to keep you Green File up-to-date when applying for a loan. Lenders will require this information regardless of the type of loan you may be inquiring about.

Check Your Credit Rating
Interest rates and other important finances may be determined according to your credit rating. The following are three credit reporting agencies that could provide you with information about your credit:

•  Equifax        (800) 685-1111
Experian       (800) 392-1122
Trans Union  (800) 888-4213.
Savings & Debt
keep in mind that buying real estate involves costs, such as escrow and home owner’s insurance fees, down payment, and other miscellaneous fees, that you will need to plan for in advance. Planning for these costs in advance may include paying down existing debt.

Toe the Line
if you are considering applying for a loan, this may not be a good time for you to make significant changes such as changing careers, moving money around, or purchasing any big ticket items; lenders like stability.

If you are still tempted to buy a big ticket item, consider the following:

A $500 a month debt payment (like a credit card or auto loan) could lower the amount of home you can afford by about $83,000! *
* Based on a 30 year mortgage at 6% interest.
CA DRE Lic# 01521463