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Loan Application Tips and Expectations

No matter how big or small, helping to make your financial dreams come true is our commitment. And when it comes to financing those dreams, our team of experts are ready to walk with you step-by-step to simplify taking out a loan.

When it comes to best preparing for the application process, here are a few things you can do to help expedite the process:

1. Leave no blanks

Ensure that all fields in the loan application are completed. In the event that a field doesn’t apply to you, input “N/A” rather than leaving it blank. Blank fields may appear as though they were accidentally skipped and may result in a delay in processing your loan application.

 

2. Don't forget to include the "why"

When asked to explain your purpose for the loan, be specific with your intent. For example, stating “auto repair costs” is much more effective in communicating the need rather

than simply writing “car.” If applying for a consolidation loan, list all pertinent accounts you would like to include, as well as their approximate payoff amounts. In addition, indicate which of those accounts, if any, you’re looking to close.

 


 

3. So, what you do for a living?

Establishing sufficient cashflow is essential to determining whether you’re able to responsibly make payments on any potential loan. Therefore, be comprehensive with what types of income you receive. Be sure to include your employer’s name, your position, the number of hours you work there weekly, and how long you’ve been employed at that job. If you have other sources of income (i.e. second job, rental, etc.), be sure to provide a thorough breakdown of each. If your length of employment at your current job is less than two years, please also include past employment information.

 


 

4. Verification matters

When it comes to uploading documents, make sure they’re all readable. In order to proceed with the loan application processing, documents are necessary to verify the information submitting. And speaking of documents, when providing copies of your tax returns, they must be signed before submission. Unreadable and/or unsigned documents will result in a delay. Also, when declaring your monthly income, the amount should be the “Gross” amount, which is the amount before accounting for taxes and/or other deductions.

 

Want to take these loan application tips with you on the go? We have a flyer to download or print available here.

 

Ready to start your loan application? Go ahead from the convenience of your own home with our Online Loan Application, also available through HawaiiUSA Online Banking and HawaiiUSA Mobile Banking.

 

Looking to schedule an appointment with a Loan Officer or have another loan-related question? Visit any of our 14 conveniently located branches on Oahu, Maui, and Big Island. You may also call our Call Center at (808) 534.4300 or toll-free (800) 379.1300 anytime Monday through Friday, 8:00 a.m. to 6:00 p.m., and Saturday from 8:00 a.m. to 2:30 p.m. HST.