The Mortgage Loan Process: an Overview

There's no doubt ; getting a mortgage loan is a complex process. You would not be researching mortgage loans if it were possible to get a mortgage loan in one day by filling out a simple application. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

There are four important steps involved in getting a mortgage loan.

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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 you save the most money. You will provide information on your employment, assets, and residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. After we have gone over all this info we will give you a letter of pre-qualification. Your real estate agent will likely use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're picking out your new home, we are looking for the best loan program for you.

Step three: apply now! We make it easy

Once you've made the offer and it's been accepted, it's time to apply for the loan. Applying for a loan couldn't get much easier; you can apply 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" of the loan and closing. We'll work with this company to ensure all the papers your lender needs are avaiailable, and you'll probably}likely sign all these papers at their officeWe coordinate with the title company on your date to close. Because you will not have to coordinate this process, you can concentrate on the move, painting, carpet, and the details involved in getting a new home.

You've answered a few questions, given us lots of information, applied , and Before you know it, you're moving! We take care of all the loan details so you can spend your time finding your new home.

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.