How the Mortgage Loan Process Works
There can be little question that getting a mortgage is a complicated process. 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.
There are four important steps involved in getting a loan.
Step one: Decide on your maximum loan amount
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. We'll also help you through different scenarios by asking a few simple questions. 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: pre-qualify for your loan
This step is where Family Mortgage Company of Hawaii, Inc. NMLS #244497 will begin saving you money. You will provide information on your employment, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've finished reviewing this information, we'll provide a pre-qualificaiton letter. Your REALTOR® will use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for your new house with your REALTOR™, we find the best program for you.
After you've signed an offer and the sellers accept it, it's time to apply for the loan. Applying for a loan couldn't get much easier; you can apply any time right here on our site. Finally, we'll order the appraisal of your new home.
Step four: your loan is funded
The agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll work with this company to ensure all the papers your lender will need are avaiailable, and you will probably}likely sign everything at their officeWe work with with the title company on your date of closing. Since you don't need to worry about these details, you get to think about the move, if you're going to repaint, carpet, and all the details of getting your new house.
You've answered a few questions, provided lots of information, applied online, and Before you know it, you're moving in! We take care of the loan details 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. Family Mortgage Company of Hawaii, Inc. NMLS #244497 answers loan process questions every day.