Hawaii’s lowest 30-year fixed-rate mortgages are on par with the national average according to Lending Tree.
The lowest 30-year-fixed mortgage found for Hawaii and the nation was 4.375% (4.51% APR). Get a pre-approval from Bank of America →
Hawaii Financing & Loans (Market Insight)
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4.375% Hawaii Mortgage Rates
Posted by Lori Owens, RS on June 28th, 2010 |
Tags: Big Island, Hawaii, Honolulu, Kauai, Lanai, Loans, Maui, Molokai, Oahu
Hawaii Military Homeowners -Housing Assistance Program
Posted by Alex Cortez, RS on June 21st, 2010 |
Tags: Big Island, Hawaii, Kauai, Lanai, Loans, Maui, Military, Molokai, News, Oahu
Hawaii Military Real Estate Owners Can Qualify for DoD’s Housing Assistance Program
For many serving proudly in the military, being assigned to different posts throughout their careers becomes a fact of life. And with such a high influx of Armed Forces personnel being stationed in Hawaii, many become property owners during their stay. However, with the crash of the real estate market and all the fluctuations that have followed, many face the possibility of a short sale upon their relocation to another station elsewhere or deployment to a combat zone.
In response to service members facing financial losses due to the nature of military service, the Department of Defense has effectively implemented the Housing Assistance Program. Read entire post →
Confusion Over First Time Buyer Tax Credit Closing Amendment
Posted by Lori Owens, RS on June 21st, 2010 |
Tags: First Time Buyers, Loans, News, Obama Tax Credit
I was reading an article at Inman News regarding the Tax credit extension titled, Senate OKs new tax credit closing deadline where they provided some “Clarification” on the issue:
“While the Senate has amended HR 4213, the “American Jobs and Closing Tax Loopholes Act of 2010,” to extend the closing deadline for the tax credit, it has not held a vote on the amended bill itself. Senate Democrats have reportedly trimmed $60 billion in spending from the bill in hopes of passing it this week. The House and Senate must resolve differences between previous versions of the bill passed in both chambers before it can become law.” Read full article →
It shouldn’t be surprising that there seems to be a bit of confusion regarding why the June 30 closing deadline has not been extended, but it was accepted as an amendment. The Senate’s amended bill gives homebuyers who were under contract on a home purchase by April 30 an additional three months until September 30 to close the deal and claim the federal homebuyer tax credit. The amendment does not extend the deadline for homebuyers to qualify for the tax credit.
Hawaii Mortgage Rates as low as 3.75%
Posted by Erik Hinshaw, R(S) on June 18th, 2010 |
Tags: Big Island, Hawaii, Honolulu, Kauai, Lanai, Loans, Maui, Molokai, Oahu
I was just checking out the link from Hawaii Life’s Home page to Bank of America’s Hawaii mortgage rates and I saw that rates have dropped to as low as 3.75% for an adjustable mortgage and 4.5% for a 30 year fixed. Read entire post →
Are Tighter Appraisals Hurting Hawaii Home Sales?
Posted by Erik Hinshaw, R(S) on May 18th, 2010 |
Tags: Appraisals, Big Island, Foreclosures, Hawaii, Kona, Loans
As the market tightens here in Kona with more sales and fewer new homes being put up for sale, appraisals are becoming the leading threat to home sales.
The question I have is, “Is that a good thing or a bad thing?”
When representing a seller, I am less worried about the buyer qualifying for a loan than I was a few months back. That situation has improved greatly. I now worry about the appraisal. Appraisers are much more conservative, with good reason, than they were a few years back. There are also a host of new laws that regulate their profession. That is all a very good thing. Read entire post →
Is the U.S. Economy Improving? Let the Numbers Speak for Themselves
Posted by Catherine Klug, RS on April 14th, 2010 |
Tags: Big Island, Honolulu, Kauai, Lanai, Life, Loans, Maui, Molokai, Oahu, Sales Stats
Sometimes analyzing the past can be a good predictor of the future, and right now many indicators from the past suggest that the US economy is indeed improving…except for a few domains:
1 ) Sell in May and Go Away?
This old adage may not always apply. Despite the long-held theory that the economy is strongest from November through April, in truth, the stats show that the US economy has fared pretty well during the summer and fall—and is getting better. The aggregate total return for the S&P 500 for every 6-month period that began on May 1st during the years 1990 to 2008 was +19.7%. The total return for the S&P 500 in the single 6-month period from 5/1 to 10/31 in 2009 was even better, at +20.0% (source: BTN Research).
Is Now The Time To Finally “Buy” Hawaii Real Estate?
Posted by Lori Owens, RS on March 15th, 2010 |
Tags: Big Island, First Time Buyers, Foreclosures, Hawaii, Honolulu, Kauai, Lanai, Loans, Maui, Molokai, Oahu, Short Sales
You might be wondering, “have we hit ‘bottom’”?
I am sure this question has been on the minds of many prospective buyers. Pardon the expression but it is a “scary” market out there if you are not informed. I hope this article will relieve some of your concerns and answer some of your questions about Hawaii’s current real estate market.
Between the changes in the lending guidelines, the negative media blast about how the U.S. housing market is at its all time worst with no way to recuperate and a short supply of housing inventory, no wonder prospective buyers could easily be scared off. The good thing is that it doesn’t have to be this way. A little knowledge can go a long way…
Qualifying for conventional loans is more stringent.
- Lenders are looking more closely at appraisals, and who chooses the appraiser has changed.
- The debt to income ratio has decreased from 60% to 45%.
- Larger down payments are required.
Fortunately, you have alternatives, one being private mortgages. If you have any family members, distant relatives, friends or acquaintances that have money in a savings type account they are most likely making no more than 3% interest in this market. They could be making 5-7% interest as a private mortgagee.
Another alternative is FHA financing, if you qualify you may only have to pay as low as a 3.5% down payment with lower closing costs and possible easier credit qualifying. Go to www.hud.com or www.fha.com for more information.
Beautiful 2 bedroom/2 bath oceanfront condo located at 75-6106 Alii Drive (MLS# 231993)
Special Financing: 3.875% On New “Na Hoku”, Central Maui Home
Posted by Jeremy Stice, R(S) on March 10th, 2010 |
Tags: Central, Deals, For Sale, Hawaii, Homes, Kahului, Loans, Maui
3.875% loan with as little as 0%, 3.5%, or 20% down depending on what you qualify for.
This is a brand new 4 bed, 2.5 bath, 2,063 sf Maui home (MLS# 338214) in Na Hoku at Maui Lani. The property is located in a cul-de-sac with a fully landscaped yard, garden wall and fence. Upgraded appliances and solar are also included. Read entire post →
Maui Lenders Getting Creative
Posted by Kevin Spaise, RS on February 26th, 2010 |
Tags: Homes, Loans, Maui, REO
If it’s been awhile since you shopped for property, brace yourself for some changes—not just in the shopping stage, where REOs and short sales definitely bear consideration, but also in securing your financing.
What worked in the past may or may not work in the present, with new guidelines in place and more distinctions between lenders and their individual requirements. But sometimes a little creativity, or even a few more phone calls can go a long way.
I’m working with a very successful investor client, who has weathered our current storm with a buying strategy that I’d call cautiously aggressive. She has eight properties in three states, and has timed her purchases not with the market, but by the individual deal. She put between 20 and 80 percent down on each, ignored the sirens sung by ARMS and other programs she calls “foolish” (her words, not mine), and made her money on the buying side. She has a positive cash flow on each of them. Read entire post →
Kauai Homebuyers Seminars Set for January 26th and 28th
Posted by Ron Margolis, RA, ABR on January 22nd, 2010 |
Tags: Deals, Escrow, First Time Buyers, For Sale, Homes, Kauai, Loans, Obama Tax Credit, Short Sales
Register for our seminar entitled HOME OWNERSHIP 101 on Kauai:
I’ll be facilitating a seminar for 1st time homebuyers and homeowners entitled Home Ownership 101, for those who wish to learn about purchasing a home. We’ll also cover the state of the Kauai real estate market and the types loans available including FHA and VA loans . The seminar will feature presenters from four dynamic companies including:
Title Guaranty Title and Escrow
Hawaii Life Real Estate Services, LLC
This is a fantastic time for 1st time home buyers and all types of buyers. Interest rates are still low (but may be trending up later in 2010). There is a 1st time homebuyer’s tax credit which can save you up to $8000. The Kauai real estate market is hovering near or around its bottom. There are many distressed sellers and bank-owned properties which are bringing prices down.
There’s a lot to know about purchasing a home and a Kauai buyer’s agent can make it an easier process for you. Key points we will be covering at the seminar include:
- Reducing your debt, improving your credit score, and getting your financial house in order
- Taking advantage of the 1st Homebuyers tax credit which expires April 30th
- Getting prepared to purchase a short sale or bank owned property – risks and rewards
- Current financing options for 1st time buyers including FHA loans.
- Understanding the process of escrow which is what you go through when you purchase property in the state of Hawaii.
Attendees will receive binders with lots of FREE Valuable information.
We’ll be having two sessions: Registration begins at 6:30 PM
Tuesday January 26th 7p.m.
Hilton Kauai Beach Resort
Lihue, HI
Thursday January 28th 7p.m.
Waimea Neighborhood Center
Waimea, HI
Register Online or for further information contact me, Ron Margolis, at 808.346.7095
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