Derrick Umemoto
Derrick Umemoto
Manager
LO ID #244100

Charles Umemoto
Charles Umemoto
Loan Officer
LO ID #315851

Linda Wong
Linda Wong
Loan Officer
LO ID #302899


 

5 Steps to Buying a Home

Buying your first home can be an overwhelming process, and some people don't know where to start. The first thing you should do is talk to a mortgage professional and find out how much you can afford. Here are some simple steps to buying your first home!

Step 1

Pre-qualifying

How much can you afford?  How much of a down payment do you need?  What kind of loan is best for you?

The Mortgage Loan Officer is the best source to determine the answers to these questions. Do not hesitate to call for an appointment.  There is no cost to pre-qualify.  Once you're qualified, it's time to shop for a home.

Step 2

Go out and find the house of your dreams! Your best bet during this step is to talk to a Realtor to help you find what you're looking for.

Step 3

Visit with your Loan Officer to complete the mortgage application package and present all documents to process the loan.

The loan process begins and takes approximately 45-60 days. Sometimes shorter or sometimes longer depending upon your particular situation.  

The appraisal report and credit reports are ordered.  Verifications of employment and bank accounts, etc. are done.

Step 4

Loan commitment/approval is received and the loan proceeds to closing. The final loan documents are drawn and signing & recording dates are set. You, the Escrow Officer, Loan Officer and Realtor may be present at the signing of the closing documents.

Step 5

The Loan Records!

You are now the proud owner of your new home!

Contact the Island Mortgage Source when you're ready to start with Step 1!