About the Loan Process
There's little question that getting a mortgage loan is a complex process. You wouldn't be here on our website if you could complete a one-page loan app and get a great loan check cut 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.
There are four primary steps involved in getting a mortgage loan.
Step one: determine how much you can borrow
This is a function of a couple things. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. 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 step is where Family Mortgage Company of Hawaii, Inc. NMLS #244497 can start saving you money. You will supply info about your current job, your assets, and residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission, of course). After we have reviewed this information we give you a letter of pre-qualification. Handle it with care — it is a useful tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. While you're deciding on your new home, we are looking for the best loan for you.
Once you've made the offer and the sellers have accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here on our site. After the seller has accepted your offer and you have applied for your loan, we will order the professional appraisal on the home.
Step four: funding
The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to make sure the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at this company's officeWe do all the work to coordinate with this company on your date to close. Because you don't need to coordinate this process, you can think about moving, painting, new carpet, and the details involved in moving into a new home.
You've answered some few questions, provided detailed information, applied online, and Before you know it, you'll be moving in! Family Mortgage Company of Hawaii, Inc. NMLS #244497 is in the business of mortgage loans; you're not — so take care of the details. Doesn't that sound nice?
Have questions about the loan process? Call Family Mortgage Company of Hawaii, Inc. NMLS #244497 at (808) 935-0678. We answer questions about the loan process every day.