When you are getting ready to talk to a loan officer or loan broker about financing a piece of real estate in Hawaii, there are some things that you should have available: income tax returns for the last 2 years, W-2's, or Schedule C's if you are self employed, your 3 most recent pay stubs, and bank statements from the past 3 months. With the above information, the loan officer can generate a pre-qualification letter on the spot. This puts you in a stronger position with the seller because they know you are a serious buyer and thus your offer gains more weight should multiple offers be considered.
The loan process is actually a two-part procedure. The first step is to qualify you and the second step is to qualify the real estate. By starting early, you can be qualified and approved by the lender when you are actually looking. This means that when we find the right property for you, it is only a matter of qualifying the home. That part is done through the appraisal, which doesn't take long at all. Qualifying you, on the other hand, takes time. Time to get answers from employers and banks, etc. all verifying that what you put on your application is true and correct. Getting the first part out of the way greatly speeds up the purchase process. >I am pleased to announce that as of May 2003, Coldwell Banker Aloha Properties has gained access to Coldwell Banker Mortgage, which has been available for a bit longer on the Mainland than on the Big Island of Hawaii. Our phone in application is very customer friendly and can result in same-day loan approval being issued. Simply call our toll free number: 1-877-527-1230. Select Option 2 to be connected to a Loan Consultant, who will collect your application information. (Be sure to have the items listed in paragraph 1 in front of you so that you will have the exact figures.) In addition to completing your application, the consultant will review your credit report with you, then discuss the options and programs that will best meet your needs. Loan approval may be issued the same day, and the appraisal will be ordered after a purchase contract is signed and sent to the counselor. Your application package will be sent to you via overnight mail at our expense for signatures. You will also be provided with a pre-paid envelope in which to return the signed application.
If you would like to rate protect or even lock (if you already have a signed contract to purchase) your rate, you will be given the option to do so. It is the policy of the company to collect a $250 good faith deposit, which you will have credited back at closing in order to rate protect or lock your rate. If you choose not to rate protect or lock, you will float and will only pay the $250 when you do decide it's time to protect or lock. As a Coldwell Banker Mortgage customer, you will be kept informed of your loan's progress and you will have easy access to your loan consultant every step of the way.
Of course, we can also recommend several other real estate
lenders right here in Kona. Just let us know,
and we'll send you a list! Either way, we want
you to find the type of real estate loan that best suits you
and your unique situation. For more information, please visit Coldwell Banker Mortgage.
