How the Loan Process Works

There can be no question ; getting a mortgage loan is a complex process. You would not be looking up loan information if you could get a mortgage loan in a single day with a simple application. But Family Mortgage Company of Hawaii, Inc. NMLS #244497 does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a mortgage loan involves four major steps.

Step one: determine how much you can borrow

A couple of factors determine this amount. 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? 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 the rubber meets the road and you save the most money. You will give us info on your current job, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We get your permission to run your credit score and report. We will go over this info then give you a letter of pre-qualification. 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 the home that's right for you, we are looking for the loan that best fits your needs.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, you should complete the loan application. It's very easy, and you can apply online, right here on our website. After the seller has accepted your offer and you have submitted your loan application, we'll order a professional appraisal on the home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to find an escrow/title company to take care of the funding of your loan once it has been approved. We'll coordinate with this company to ensure all the papers your lender needs are in order, and you will probably}likely sign everything at this company's officeWe do all the work to coordinate with this company on your date of closing. Since you will not need to coordinate this process, you get to concentrate on moving logistics, painting, carpet, and the details involved in getting your new house.

You've answered a few questions, given us lots of information, applied online, and Before you know it, you're moving! Family Mortgage Company of Hawaii, Inc. NMLS #244497 is a mortgage specialist; you're not — so we 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.

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