The Loan Process: an Overview
There's little doubt ; getting a mortgage loan is a complex process. You wouldn't be here on our website if you could complete a simple loan app and get a great loan funded 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.
Getting a home loan involves four major steps.
Step one: determine how much you can borrow
A couple of factors determine this amount. 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: complete a pre-qualification
This step is where Family Mortgage Company of Hawaii, Inc. NMLS #244497 will start to save you money. You will provide details about your employment, assets, and residence history. You'll give us information on your employment, asset, and residence history. We pull your credit score and report. We'll review this info then give you a pre-qualification letter. Your agent 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 picking out the home that's right for you, we are researching the best loan for you.
Step three: apply now! We make it easy
Once you have made an offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our website. Finally, we will order the appraisal of your new home.
Step four: your loan is funded
Your REALTOR® and the seller's will coordinate to find a title company to take care of the funding of your loan. 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 work with with this company to set your date to close. Since you don't need to worry about these details, you can think about the move, if you're going to repaint, new carpet, and all the details of moving into a new home.
You've answered some few questions, provided detailed information, applied , 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 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.