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

There can be little question ; getting a mortgage loan is a complicated process. You wouldn't be visiting our site if it were possible to fill out a one-page loan app and get a great loan funded the same 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 loan.

Step one: Decide how much you can afford

This is a function of a couple things. 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. 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 is where Family Mortgage Company of Hawaii, Inc. NMLS #244497 will begin saving you money. You will provide info on your employment, assets, and residence history. You'll supply information on your employment, asset, and residence history. We pull your credit score and report. We will review this info then will provide a letter of pre-qualification. Be careful with this letter — it is a useful tool for buying your new home! Your agent should use the pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're looking for a new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made the offer and the sellers have accepted, it's time to complete the loan application. It's very easy, and 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

The agents will find a title company to handle the "funding" and closing of the sale. We'll coordinate with this company to ensure all the papers your lender requires are avaiailable, and you'll probably}likely sign everything at this company's officeWe coordinate with this company to set your closing date. Because you will not need to worry with this coordination, you get to concentrate on moving logistics, paint colors, carpet, and all the details of getting a new house.

You've answered some few questions, given us detailed information, applied online, and before you know it, you're deciding when to move in! We do the mortgage legwork so you can focus on finding your new home.

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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