About the Loan Process
There is little doubt ; getting a mortgage is a complicated process. You would not be looking up loan information if you could get a mortgage loan in a single 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 main steps involved in obtaining a loan.
Step one: Decide on your maximum loan amount
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. 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: complete a pre-qualification
This is where the rubber meets the road and you save the most money. You will provide information about your employment, your assets, and residence history. You'll give us 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 give you a pre-qualificaiton letter. Be careful with this letter — it is a great 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 a new home with your real estate agent, we find the best program for you.
After you've made the offer and the sellers accept it, it's time to apply for the loan. Applying for a loan could not be much easier; you can apply online right here on our site. After the offer has been accepted and you have applied for your loan, we will order a professional appraisal on the home.
Step four: funding
Your real estate agent and the seller's will work together 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 will need are avaiailable, and you'll probably}likely sign everything at this company's officeWe coordinate with this company to set your closing date. Since you won't have to worry with this coordination, you get to think about the move, if you're going to repaint, new carpet, and the fun parts of moving into your new house.
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 your new home.
Have questions about the loan process? Call Family Mortgage Company of Hawaii, Inc. NMLS #244497 at (808) 935-0678. It's our job to answer lending questions, so we're happy to help!