Gabriel Mendoza

Your monthly mortgage payment is made up of four parts — often called PITI: Principal, Interest, Taxes, and Insurance.

Principal reduces your loan balance. Interest is the cost of borrowing. Taxes are collected monthly in escrow. Insurance covers your homeowners policy, also collected monthly.

If you put less than 20% down, you will also pay mortgage insurance — FHA MIP or conventional PMI.

The only way to get your exact number is a real conversation. I can run the numbers for your specific situation — no obligation, no pressure.

The honest answer is: it depends on your full financial picture — not just your income.

Lenders look at your debt-to-income ratio (DTI) — the percentage of your gross monthly income that goes toward all debts. For FHA loans, your total housing payment plus all monthly debts should generally stay below 43% to 50% of gross monthly income. Lender overlays may be stricter.

Good news: Programs like CalHFA down payment assistance exist for qualifying buyers in Los Angeles County — which may lower your loan amount and your payment.

Call me and in 10 minutes I can tell you exactly where you stand.

Mortgage rates change every single day — sometimes multiple times a day. Any rate you see advertised is a snapshot in time and may not reflect what you will actually qualify for.

Your actual rate depends on: your credit score, your down payment, the loan type (FHA, Conventional, VA), the loan term (15 vs 30 years), and current market conditions.

The rate you see advertised is not necessarily the rate you will get. Your rate is personal. A licensed mortgage planner can give you a real number based on your actual situation.

The minimum credit score depends on the loan type — but here is what you need to know:

If your score is not where it needs to be — do not give up. There are real steps to improve it, and some improvements can happen in 30 to 90 days. I work with buyers at all stages and can point you in the right direction.

Yes — but the process is different. Self-employed buyers are often told no by banks because their tax returns show too little income after deductions. That is not the end of the story.

There are two main paths for self-employed buyers:

Tax return qualification — uses your last 2 years of personal and business tax returns. Works if your taxable income is strong enough to support the payment.

Bank statement loan — qualifies you on 12 to 24 months of bank deposits instead of tax returns. Your actual income — not your taxable income. This is ideal for business owners who write off a lot.

If you have been self-employed for at least two years and your business is generating consistent income — call me. There is a real path here.

FHA is often the better choice for first-time buyers with lower credit scores or smaller down payments. Conventional can be better for buyers with stronger credit who want to avoid lifetime mortgage insurance. The right choice depends on your full situation.

Closing costs are fees required to finalize your mortgage — typically 2% to 3% of the loan amount. On a $600,000 loan that is approximately $12,000 to $18,000.

They include: lender fees, title insurance, escrow fees, recording fees, and prepaid items like your first year of homeowners insurance and property tax reserves.

Closing costs are real — but there are ways to reduce or cover them. I walk every client through the numbers before we start so there are no surprises at closing.

No. This is one of the biggest myths in home buying. Most buyers — especially first-time buyers — do not put 20% down.

20% down eliminates mortgage insurance and lowers your rate — but it is not required. The right down payment strategy depends on your savings, your goals, and which programs you qualify for.

CalHFA is the California Housing Finance Agency — a state agency created in 1975 to help low and moderate income Californians become homeowners. It offers down payment assistance programs for qualifying first-time buyers.

I work with CalHFA-approved wholesale lenders and can help you determine which program fits your situation. Call me before you assume you do not qualify.

In today's competitive SE Los Angeles market — especially in cities like Bell, Maywood, Huntington Park, and South Gate — a pre-approval letter is not optional. It is your ticket to making a real offer.

I can typically complete a pre-approval review within 24 to 48 hours of receiving your documents. Start now — even if you are months away from buying.

The standard document list for most loan types:

Do not let the document list intimidate you. I walk every client through exactly what I need and why. The process is straightforward when you have someone guiding you.

A typical mortgage closes in 30 to 45 days from the time your offer is accepted. Here is a general timeline:

The timeline can be shorter if you are well prepared — documents ready, credit in order, appraisal goes smoothly. It can take longer if conditions pile up. My goal is always to close on time with no surprises.

Yes — and this is one of the most underused strategies in SE Los Angeles. FHA allows a non-occupant co-borrower — a parent, sibling, or other family member — to be on the loan without living in the home. Their income counts toward qualification, which can help a buyer who does not earn enough on their own.

This is especially common in cities like Lynwood, Huntington Park, and South Gate where multi-generational families work together to purchase. The co-borrower does not need to live in the home — they just need to be a family member (for FHA) and be creditworthy.

If you have a family member willing to help you qualify — this conversation is worth having. It can make the difference between being told no and closing on your first home.