How the Loan Process Works

There's quite a lot to do in oder to get a mortgage. You wouldn't be looking up loan information if you could get a loan in one 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 home loan involves four major milestones.

Step one: Decide how much you can afford

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? 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. 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 the process really begins and you save the most money. You will provide details on your current job, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission. 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. While you're shopping for a new house with your agent, we find the best program for you.

Step three: apply for your loan

After you've made an offer and the sellers accept it, you should apply for the loan. Applying for a loan couldn't be much easier; 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 REALTOR® and the seller's will coordinate to decide on an escrow/title company to take care of the funding of your loan. We'll work with this company to ensure the papers your lender requires are in order, and you will probably}likely sign everything at this company's officeWe coordinate with the title company on your date of closing. Since you will not need to coordinate this process, you can think about the move, painting, carpet, and all the details of moving into your new house.

You've answered a few questions, provided detailed information, applied , and the next thing you know, you're deciding when to move in! We take care of the mortgage legwork so you can focus on finding the new home that's right for you.

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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