About the Mortgage Loan Process
There can be little doubt ; getting a mortgage loan is a complicated process. You wouldn't be here on our website if it were possible to fill out a one-page loan app and get the best loan check cut in one day. We do 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 primary steps involved in getting a mortgage loan.
Step one: Decide how much you can afford
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. 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 Family Mortgage Company of Hawaii, Inc. NMLS #244497 will start to save you money. You will supply details on your employment, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We run your credit score and report. We'll go over all this info and provide a letter of pre-qualification. Be careful with this letter — it can be a great tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're picking out your new home, we're busy finding the loan that's just right for you.
Step three: apply now! We make it easy
Once you've made the offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our website. 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
The real estate agents will find a title company to handle the "funding" and closing of the sale. We'll coordinate with this company to ensure the papers your lender will require are in order, and you will probably}likely sign everything at this company's officeWe work with with the title company on your date of closing. Since you will not need to worry with this coordination, you can think about the move, painting, new carpet, and all the details of getting your new house.
You've answered a few questions, given us lots of information, applied , and before you know it, you're moving in! We do the legwork 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.