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 [...]
Conventional Renovation Loans combine home purchase with home improvement financing with one closing! Let’s face it, there are many homes on the market in Hawaii that need improvements or updating, especially bank owned properties (previously foreclosures)! Now there is a conventional loan offered by several lenders using different loan names. To avoid confusion, ask for [...]
The good news is that banks are lending to first-time home buyers (FTHB). Hawaii lenders offer many financial products to help the FTHB with programs or products like Hula Mae, Mortgage Credit Certificates, USDA, and VA. You will need to begin by checking your fiscal health, and talking to a lender to get pre-qualified and begin [...]
Real Estate Newsflash – Washington D.C. to Maui Fortunately, I did get to enjoy a little recreation time in D.C.; here I am posing with FDR (President Roosevelt) on one of my bike rides around town A sense of urgency that I have not seen in over ten visits to Washington D.C. prevailed this week [...]
I am often asked the question, “Are lenders still loaning money and are people getting loans?” The simply answer is this, yes and yes. With this being said, the current real estate financial lending process and regulations far differ from those in the peak of the market in 2006. People actually need to qualify for [...]
As part of my ongoing commitment to serving my clients, I frequently attend seminars from the distressed property experts, like Alex Charfen, who created the Distressed Property Institute in Austin, Texas. This week, Alex had a casual conversation with Rick Sharga, VP of Realtytrac. Realtytrac is generally regarded as the nation’s expert on foreclosures and [...]
This Kahala home (MLS# 1100002) is currently available for $2,675,000 From National Association Realtors weekly report: February existing home sales decline following sustained gains. Mr. Lawarence Yun, NAR, chief economist, experts an uneven recovery. He said, “Housing affordability conditions have been at record levels and the economy has been improving, but home sales are being constrained [...]
For years now, I have worked in this industry and there are always great loan programs out there and when Tracy Evje of Island Lending Group, who I have worked with quite a bit, sent me this flyer, I immediately asked her if I could share it. So, here ya go! What is a Mortgage [...]
Haven’t you heard the term before that says, “cash is King?” I’ve often bought into that theory and do have to agree there’s nothing like doing a cash transaction with a quick closing. We all know that financing these days is not what it used to be. Banks are more stringent on their underwriting. It’s also [...]
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