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Island Lending Hawaii LLC
Island Lending Hawaii LLC

  • First Time Home Buyer

    Congratulations on deciding to be a new homeowner!


    Now that you've made the decision that owning your own home is better than renting, lets see if we can get you started with the right information and goals necessary for your new home purchase.


    First thing you'd want to do is plan a budget. Know what payment per month you're comfortable with and do not go above that. Ideally, your total mortgage payment should be no more than 35% of your gross monthly income. Total monthly payment should include property tax and home insurance. If purchasing a condominium, maintenance and/or association fees may apply. 


    Next, know your credit score and keep your credit in good health. You're  entitled to one free copy of your credit report every 12 months from each of the three nationwide credit reporting companies.  It is very important to know ahead if there is anything negatively affecting your credit. 


    Keep your monthly payments low or down to zero on all your credit cards and loan debts. This will help you qualify more easily and give you increased purchasing power. 


    With a budget decided and credit in good health, you'd want to know what loan programs are available for first time home buyers like yourself. Checkout our first time home buyers programs here.


    Now would be a good time to speak to one of our loan professionals about getting you pre-qualified for your purchase. Before speaking with one of our professionals, make sure to have all your documents available that you'll need in order to get qualify. 


    Congratulations again and we look forward to helping you with your new home purchase!