have broken the Loan Process of getting a Hawaii Home Loan into
4 easy to understand steps.
Online, in person at one of our offices statewide,
or by phone 855-529-5222. We will Pre Approve you within 15 minutes.
If needed, we will present you with a letter of pre-approval that
you can give to your real estate agent or to the sellers, this is
what we recommend as sellers will know your serious since you have
a local bank approva letter with an actual loan number.
Loan Processing: A Title Commitment / Appraisal
& Survey may be required here in Hawaii. Out in house
processing team will ensure that everything get done on time and
without any suprises. Once we have received the necessary documentation
(paystubs, bank statements, rental history, etc....) from you, we
will check to ensure everything is in order for expedient final
loan approval. We have many reduced documentation loans.
Hawaii Final Approval: The
loan is then reviewed by our Underwriter for final Approval and
closing instructions are sent to the title company.
Close/Funding: This is where you will meet
at the Title company to sign final documents, since about 30% of
out loans are done for borrowers that are out of state, we will
overnight the loan docs to you for signing. After closing,
it takes 1-4 hours to fund purchases and 1-3 days for refinances.
Required Documentation for hawaii home loans
Refinances require less / Better credit requires less
Last three (3) months of consecutive statements (when cash reserves
are required) If were going the Stated/Verfied route
Sales contract on purchase.
Check Stubs (last full month)
401K, Stocks, Bonds, Etc.
Most recent statements showing balances for the last three (3)
months or two (2) quarters (when cash reserves are required)
Again documanetion changes from loan program to loan program.
Name, company, and telephone number
and/or 1099's (last two years)
[needed when applicable]
Tax Returns (last two years)
Rent Checks (last 12 months)
Divorce and/or child support, fully executed.
Name and phone number(s).
Discharge List and copies of all included debt.
Current copies on each property.
is a mortgage?
mortgage is a loan secured by real property (permanently affixed
to the ground house). There are 3 main types of mortgages: Conventional,
FHA, & VA.
This type of mortgage is insured by private
corporations. If you conform to the private insurer's lending guidelines,
you will be eligible for the best market interest rates, and the
best mortgage rates in Hawaii. You can also get a conventional
mortgage without insurance. There are many conventional programs
for W2 employees, self-employed, stated income and jumbo borrowers.
This is the most flexible type of mortgage.
These are loans funded by the government's
Housing Administration department.
A mortgage that is insured by the Veteran's
Administration. If you are a veteran or properly related to
one, you can apply for this type of mortgage. These mortgages allow
you to finance 100% of the purchase price of a home with less income
and/or less-than-perfect credit.