A+ Solutions Inc
WUJIHome Solutions · 无极家园
Hi, I'm Padma Li, your mortgage loan originator.
My job is to make your financing clear before you shop: what you qualify for, what it costs each month, and which loan fits your situation. I compare options across multiple lenders and work side by side with your Realtor from pre-approval to closing.
You and the lender buy the home together.
You bring the down payment. The lender brings the rest as a loan. The home is yours from closing day, and you pay the loan down a little every month.
A simple way to see it: rent covers your landlord's costs. A mortgage payment pays off a loan on a home you own, so each month your share of the home, called equity, gets bigger.
To find your numbers, we go in four steps: about you → loan assumptions → your two budgets → your plan.
First, tell me about you
Income, debts, cash and comfort level. Everything after this is calculated from your answers.
How do you earn your income?
Overtime and bonus count with about a 2-year history, averaged.
2-year average. If income went down, lenders usually use the lower, more recent year.
Transfers and one-time deposits are excluded. The expense factor or a CPA letter varies by program.
1099-only programs apply a set expense factor. Using tax returns instead follows the self-employed rules.
Alternative-doc loans are Non-QM: they often need a larger down payment (commonly 10% or more) and price higher than standard loans. Terms depend on the program and are final only when locked.
A home you live in always needs proof you can repay. "No income check" loans (DSCR) are for rental properties only.
What do you pay on debts each month?
Car, student loans, card minimums. The credit report confirms these.
How much cash would you like to use?
Keep a separate cushion for moving, repairs and emergencies.
What monthly payment feels comfortable?
Mortgage, taxes, insurance and HOA together. Compare with your rent today.
When would you like to buy?
Loan assumptions
Reasonable starting points. We adjust them once we see your documents and the homes you like.
Your two budgets
What your income supports, next to what feels comfortable. We plan with the lower one.
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Your plan: who pays for what
At your recommended budget.
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You repay it monthly, usually over 30 years.
You live in 100% of it from day one.
Down payment + about 3% closing costs (title, appraisal, lender fees, prepaid taxes and insurance).
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–What the numbers mean
Six words you'll hear a lot, in plain English.
Principal · 本金
The amount you borrowed. Part of every payment pays it down.
Interest · 利息
The cost of borrowing. Early payments are mostly interest; that shifts toward principal over time.
Taxes & insurance · 地税和保险
Usually collected with your payment and held in an escrow account, then paid for you when due.
Mortgage insurance · PMI
Added when you put less than 20% down on a conventional loan. It protects the lender and can usually be removed later as your equity grows.
Debt-to-income · DTI
All monthly debts, including the new house payment, divided by gross monthly income. It's how lenders check the payment fits your income.
Rate lock · 锁定利率
Holds your interest rate for a set period while the loan is processed. Until then, any rate shown is an illustration.
The road from here to your keys
Your Realtor and I work side by side the whole way.
Pre-approval
We verify income, credit and savings, and confirm your budget.
LENDERHouse hunting
Tour homes inside your planned budget.
REALTOROffer & contract
Offer accepted. Earnest money deposit. Loan application goes in.
BOTHInspection & appraisal
Check the home's condition and confirm its value supports the loan.
BOTHUnderwriting
The lender re-verifies everything. Keep your job, credit and bank accounts steady.
LENDERClosing
Final walk-through, sign, fund, and you get the keys.
BOTHReady for your next step?
Send me a note or book a call. We'll go over your income documents together and turn this estimate into a real pre-approval. Padma Li · English and 中文.
- Phone
- 408-900-2715
- padma@wujihomes.com
- Book a call
- calendly.com/padma-wujihomes/30min
- Web
- wujihomes.com