The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps

There is no question ; getting a mortgage is a complicated process. You wouldn't be here on our website if you could fill out a simple application and receive a great loan check cut in one 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.

There are four main steps involved in obtaining a mortgage loan.

Step one: determine how much you can borrow

This is a function of a couple things. What kind of monthly payment are you looking for? 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. 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 the rubber meets the road and Family Mortgage Company of Hawaii, Inc. NMLS #244497 can really save you money. You will provide details on your employment, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We pull your credit score and report. We'll review all this information then provide a letter of pre-qualification. Be careful with this letter — it can be a useful tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking 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 have made an offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan could not be much easier; you can apply from the comfort of your home right here on our site. At the end of this step, we'll order an appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to find an escrow/title company to take care of the funding of your loan once it's approved. We'll work with this company to ensure all the papers your lender needs are avaiailable, and you'll probably}likely sign everything at their officeWe coordinate with the title company to set your date to close. Since you won't have to worry about these details, you can concentrate on the move, if you're going to repaint, new carpet, and the details involved in getting your new house.

You've answered some few questions, provided detailed information, applied online, and before you know it, you are deciding when to move in! We take care of all 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. We answer questions about the loan process every day.