The questions, including the awkward ones
Grouped by where they come up. If yours is not here, call and ask it. I would rather answer it now than have it surface in week three of an escrow.
Getting started
What happens before you look at a single listing.
Earlier than most people think. Half of my first calls happen eight to fourteen months before an offer. We set a target price, a savings plan and a credit plan, then you shop when you are ready instead of when a listing appears.
A pre qualification is a conversation. A pre approval means I have pulled credit, reviewed income and assets, and had an underwriter approve the file. In Santa Clara County the second one is what makes an offer competitive.
Two recent pay stubs, two years of W-2s or tax returns, two months of bank and brokerage statements, and your equity portal export if you receive stock. Self employed files start with twelve or twenty four months of bank statements instead.
One hard inquiry has a small, temporary effect. Multiple mortgage inquiries inside a 45 day window count as a single event, so shopping lenders does not stack up against you.
Loan programs
Choosing the right tool for your income and your property.
Yes, with a two year history of receipt and a vesting schedule that continues at least three years past closing. Most of my lenders use a two year average at a trailing share price. Guidelines differ, which is exactly why lender selection matters on these files.
Not necessarily. Bank statement programs qualify you on twelve or twenty four months of deposits with an expense factor applied. Rates run roughly a point higher than conventional as a sample comparison, and we plan a refinance once your returns support the income.
Any loan above the county conforming cap, which this demo shows as $1,209,750. Jumbo files are underwritten by a person rather than an engine, so how the file is built matters more.
Yes. Conventional programs start at 3% for first time buyers, FHA at 3.5%, and jumbo programs at 10% up to roughly $1.5 million. Mortgage insurance applies below 20% on conventional loans and can be removed later.
Rates, costs and timing
How pricing works, and what closing actually costs.
No. Every rate, APR and payment shown here is a sample figure for a demo website. Real pricing changes daily and depends on your credit, loan size, property, occupancy and term. Ask me for a written quote and you will get one the same day.
It depends on how long you will keep the loan. Divide the cost by the monthly savings to get the break even in months, then compare that to your honest plan. Under five years, points rarely pay for themselves.
Plan on roughly 1.5% to 2% of the purchase price in lender, title, escrow and recording fees, plus prepaid property taxes and insurance. On a refinance the range is smaller, and an appraisal waiver often saves about a thousand dollars.
Twenty one days is normal on a clean file, and I have closed in fifteen when an appraisal was waived. Government loans and renovation loans run longer, usually 30 to 45 days.
Once you are in contract, in most cases. I watch the market daily and will tell you when waiting has a real chance of paying off. Several of my lenders allow one float down if pricing improves before you sign.
Working with Priya
Who you talk to, and how it works day to day.
You work with me. Amira handles processing and Josh handles document collection, and you will meet both, but the calls, the strategy and the hard conversations are mine.
I am paid by the lender at closing on most files. Where a borrower paid structure produces a better overall cost, I will show you both side by side in writing before you choose.
English, Tamil and conversational Hindi. A good part of my work involves explaining a loan to parents or in laws who are helping with the down payment, and that goes better in the language they are comfortable in.
Yes, at my North First Street office, or near you in Santa Clara, Sunnyvale or Campbell. Most clients prefer a video call and that works equally well. Evening and Saturday slots are available.
Unusual is most of my work. Trusts, portfolio income, a recent job change, a business partner buyout or a relative on title are all normal here. Tell me early and we will build the file around it.
Ask me the one that is not listed
Twenty minutes, no documents, and an answer you can act on.
Sample figures across this site are illustrations, not quotes. Equal Housing Opportunity.