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. Interest rates are now at an all time low giving buyers an opportunity to own their own piece of paradise.

For more information, please call Carole at (808) 987-7273 or (808) 325-0882.