An Overview of the Mortgage Loan Process

No doubt, quite a lot involved when you get a mortgage loan. You wouldn't be looking up loan information if it were possible to get a loan in a single day with a simple application. 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 loan involves four major milestones.

Step one: Decide how much you can afford

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? 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 is where the process really begins and Family Mortgage Company of Hawaii, Inc. NMLS #244497 can really save you money. You will supply info about your current job, assets, and residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission, of course). After we've finished reviewing the provided information, we'll provide you with a pre-qualificaiton letter. Your REALTOR® will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for a new house with your REALTOR™, we find the best program for you.

Step three: apply for your loan

After you've signed the offer and the sellers accept it, it's time to apply for the loan. Applying for your loan couldn't get much easier; you can apply any time right here on our site. After the offer has been accepted and you have submitted your loan application, we will order the professional appraisal on the home.

Step four: your loan is funded

Your REALTOR® and the seller's will work together to designate a title company to take care of the funding of your loan once it's approved. We'll work with this company to make sure all the papers your lender requires are in order, and you will probably}likely sign everything at this company's officeWe do all the work to work with with this company on your date to close. Because you won't have to worry about these details, you get to think about the move, paint colors, carpet, and the fun parts of moving into a new house.

You've answered some few questions, provided lots of information, applied online, and Before you know it, you'll be moving in! 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.

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