The Loan Process: an Overview

There's little question that getting a mortgage loan is a complex process. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single day by filling out 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.

There are four primary steps involved in getting a loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. 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? 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 begin saving you money. You will supply information on your current job, assets, and residence history. You'll give us information on your employment, asset, and residence history. We pull your credit score and report. When we review all this info we provide a letter of pre-qualification. With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for a new house with your real estate agent, we find the best program for you.

Step three: apply for your loan

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. After the offer has been accepted and you have applied for your loan, 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 a 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 all these papers at their officeWe do all the work to coordinate with the title company on your date of closing. Because you won't have to worry about these details, you can concentrate on the move, if you're going to repaint, new carpet, and the fun parts of moving into a new house.

You've answered a few questions, provided lots of information, applied online, and Before you know it, you're moving! Family Mortgage Company of Hawaii, Inc. NMLS #244497 is in the business of loans; you're not — so take care of the details. Doesn't that make sense?

Have questions about the loan process? Call Family Mortgage Company of Hawaii, Inc. NMLS #244497 at (808) 935-0678. Family Mortgage Company of Hawaii, Inc. NMLS #244497 answers loan process questions every day.

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