Many borrowers are confused by the idea of a discount point. A discount point is basically pre-paid interest that allows a borrower to lower their interest rate on the money they borrow for a mortgage. Because it is pre-paid interest, it is tax deductible in full in the year it is paid. What Are Discount [...]
Did you know there is a loan product in between conforming and jumbo? The High Balance Conforming is a good option if your loan amount is not substantially higher than the conforming limits. The interest rates are only about 0.125% higher than a conforming loan. This loan product can be used for principal residence, second [...]
I am very pleased to report that there is a new local bank in Hawaii that is now financing resort condo purchases at the Honua Kai Resort and Spa in Maui. Financing in general has been rather difficult to come by the last couple of years, but I am noticing that banks are expanding their [...]
USDA/Rural Housing Loans Offer 100% Financing on Hawaii Homes Many people are unaware that there is still 100% financing available. There are definitely eligibility requirements for the property and the borrower. To find out if you are eligible, this website is an excellent resource: http://www.eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do As an example, the whole island of Kauai is considered [...]
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