How the Loan Process Works
No doubt, quite a lot to do in oder to get a mortgage. You wouldn't be here on our site if it were possible to fill out a simple application and get a great loan funded the same day. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
Getting a mortgage loan involves four major steps.
Step one: Decide how much you can afford
A couple of factors determine this amount. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a good idea of your preferred payment abount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.
Step two: pre-qualify for your loan
This is where Family Mortgage Company of Hawaii, Inc. NMLS #244497 will start to save you money. You will provide information about your employment, assets, and residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (with your permission, of course). After we've finished reviewing this information, we'll provide a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're deciding on your new home, we're busy finding the loan that's just right for you.
Step three: apply now! We make it easy
Once you have made an offer and the sellers have accepted, it's time to complete the loan application. It's very easy, and you can apply online, right here on our site. Finally, we'll order the appraisal of your new home.
Step four: funding
Your REALTOR® and the seller's will work together to designate a title company to handle the funding of your loan. We'll coordinate with this company to make sure the papers your lender will need are avaiailable, and you'll probably}likely sign all these papers at their officeWe work with with this company on your closing date. Because you won't have to coordinate this process, you get to concentrate on moving logistics, paint colors, carpet, and all the details of moving into a new home.
You've answered a few questions, given us lots of information, applied , and before you know it, you are deciding when to move in! Family Mortgage Company of Hawaii, Inc. NMLS #244497 is a mortgage specialist; you're not — so take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call Family Mortgage Company of Hawaii, Inc. NMLS #244497 at (808) 935-0678. It's our job to answer lending questions, so we're happy to help!