I think Canadian citizens will be very pleased to discover that for well qualified borrowers, financing a purchase at the Honua Kai Resort and Spa in Ka’anapali, Maui can be done with as little as 30% down payment. This should be music to the ears of many as most banks require Canadian investors to put [...]
(Honolulu, HI.) Hawaii home buyers are keeping a close watch on pending changes USDA boundaries that will take effect in September. Some areas will disappear from the 100% financing, including: Kapolei Ewa Gentry The old Ewa Beach area Kapolei (and Makakilo) Royal Kunia Village Park Nanakuli Waianae USDA loans require zero down for financing, which is similar to what [...]
As the Kauai and Hawaii markets continue their trend to improve and stabilize, interest rates remain at historic lows. In fact, as the LA Times reported today, “the benchmark 30-year mortgage rate dropped this week to an average of 3.35%, its lowest rate in four months and within a whisper of its record low of [...]
Do you dream of building your own home? There’s nothing like building your home, exactly the way you want it with every custom detail in place, and building it exactly where you want it. But with the lending belt tightened in the past few years, many think the idea of buying land and building has [...]
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 [...]
If you are military affiliated, you’re probably already aware that VA guaranteed mortgages are a great “zero-down” option for purchasing real estate. Oahu’s generous BAH covers a large portion of your mortgage payment too; service-members should consider becoming homeowners while the interest rates are still incredibly low. Most people, however, are unaware that another mortgage [...]
If you’ve been looking for a financing program to buy a foreclosure, short sale, or regular sale single-family home or condo property, here’s a loan program for you! This is available for first-time home buyers as well as second home buyers and investors! Financing Details
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 [...]
The current market shows purchase contract cancellations caused by declined mortgage applications, failures in loan underwriting from appraised values coming in below the negotiated price, or other problems. Even many home buyers with good credit scores are challenged by tight lending restrictions. In many cases, buyers need to understand how the credit system works and how [...]
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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