Downtown Honolulu, Hawaii
1188 Bishop St. Ste. 2503
Honolulu, HI 96813
(808) 599-1400

Do's & Don’ts of Navigating the Mortgage Process April 9, 2018

Downtown Honolulu, Honolulu
Do's & Don’ts of Navigating the Mortgage Process, Honolulu, Hawaii

If you’re interested in buying a home, you know that the mortgage process can be complex. Having the right assistance is crucial in this case, and the team at Aloha Mortgage in Honolulu, HI can help local homebuyers secure the property of their dreams. The following are just a few important points to keep in mind when purchasing a home.

Do

Ensure Your Financial Situation Remains Constant 

It’s important to keep your financial situation stable throughout the mortgage process. This means staying current on all financial commitments, such as bills, loan payments, and credit cards. Try not to make any purchases outside of your normal expenses, especially big items like vehicles or electronics.

Keep up With Rent or Mortgage Payments

Making sure you stay current with your existing home payments is also important. If you rent, ensure you’re paying your rent on time each month. The same can be said for an existing mortgage; failure to pay can indicate financial irresponsibility, which might sway the opinion of the lender we’re working with.

mortgageDon’t

Apply for New Lines of Credit

Taking on a mortgage is a huge responsibility. As a result, lenders want to be certain that you can take on these expenses and that you are a fiscally responsible person. Taking on new lines of credit while going through the home process may signal that you are not financially sound and prone to making financial decisions on a whim.

Change Jobs

Lenders want to see that you have established a consistent financial foundation when buying a home. Changing jobs can be a sign that this is not the case, especially if you’re taking a pay cut or going from an office job to something in the service industry. If you must change, discuss it with your broker before moving forward.

If you need help securing a mortgage or simply have questions about the process, Aloha Mortgage, LLC. has you covered. With two decades of experience, these loan professionals can provide accurate information to help you secure funding for the things that matter most in your life. Call (808) 599-1400 today to speak with a mortgage broker in Honolulu. 

Other Announcements, Events and Deals from Aloha Mortgage, LLC.
3 Home Improvement Projects That Add Value, Honolulu, Hawaii
If you ever decide to sell your house, wooing interested buyers requires standing out from the competition. One effective way to stir more interest is through amazing home renovation...read more
3 Criteria Mortgage Brokers Consider, Honolulu, Hawaii
If you dream of owning a home, you can make it a reality if you prepare for the process well in advance. In addition to saving money for a down payment, look into what mort...read more
4 Benefits of Putting a 20% Down Payment on a Home, Honolulu, Hawaii
Buying a house, especially for the first time, can bring a mix of excitement and uncertainty. After all, the purchase will likely be the largest financial investment for most people....read more
3 Tips for Getting Your Home Loan Application Approved, Honolulu, Hawaii
For first-time home shoppers, securing a home loan can be an intimidating process. However, with a bit of preparation, your mortgage application can get the green light towards home ...read more
 3 Mistakes First-Time Buyers Make When Applying for a Home Loan , Honolulu, Hawaii
After years of apartment dwelling, you’re ready to start the path toward homeownership. For first-time buyers, the experience can be a mix of excitement and the unknown. Unfortunatel...read more