The Four Steps of the Loan Process:The Loan Process: Four Steps
No doubt, quite a lot involved when you get a mortgage. You wouldn't be looking up loan information if it were possible to get a loan in one 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.
Getting a mortgage 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? You can get a good idea of your preferred payment abount using the calculators on our website. 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 is where Family Mortgage Company of Hawaii, Inc. NMLS #244497 will begin to save you money. You will provide information about your current job, your assets, and residence history. You'll provide your employment, asset, and residence history information. We pull your credit score and report. When we review all this information we will provide a pre-qualification letter. Be careful with this letter — it can be a great tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for your new home with your real estate agent, we find the best program for you.
Step three: apply now! We make it easy
Once you've made an offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan could not get much easier; you can apply online right here on our site. When the time is right, we will order an appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will coordinate to decide on a title company to handle the funding of your loan once it's approved. We'll coordinate with this company to make sure 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 this company to set your date of closing. Because you don't need to worry with this coordination, you get to concentrate on the move, paint colors, new carpet, and the details involved in getting your new home.
You've answered some few questions, given us lots of information, applied online, and Before you know it, you'll be moving! We take care of the loan details so you can spend your time 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. Family Mortgage Company of Hawaii, Inc. NMLS #244497 answers loan process questions every day.