An Overview of the Mortgage Loan Process

No doubt, a lot involved in oder to get a mortgage loan. You wouldn't be visiting our website if it were possible to fill out a one-page mortgage application and get an excellent loan funded the same day. 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 loan involves four major milestones.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? 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. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Step two: complete a pre-qualification

This is where Family Mortgage Company of Hawaii, Inc. NMLS #244497 can start to save you money. You will give us information on your employment, assets, and residence history. You'll supply information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we've finished reviewing your information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — it can be a useful tool when you make your offer! Your REALTOR® will likely use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for the home that's right for you, we're busy researching the loan that's just right for your unique situation.

Step three: apply for your loan

Once you have made the offer and the sellers have accepted, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our site. Finally, we'll order an appraisal of your new home.

Step four: funding

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's approved. We'll work with this company to ensure the papers your lender needs are in order, and you'll probably}likely sign all these papers at their officeWe do all the work to coordinate with the title company to set your date of closing. Since you will not 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 getting a new house.

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

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