The Mortgage Monster: Specialty & Second Homes Loans

Real estate is all about having the funds to purchase your dream home or condo. Understanding the loan process and your purchasing ability can make your life simpler and happier.


The most crucial step in buying a property is deciding if you are paying cash or using a mortgage lender. Hawaii has many cash buyers. Almost 40% of all homes are purchased with cash. If you are going to use a mortgage lender and compete in today’s seller’s market, having an excellent cash deposit will help you compete with multiple offers. Finding a dependable lender that knows the area, subdivision, and lava zones will ensure your loan process goes smoothly.

ocean view golf course on the big island

Specialty Loans

The Big Island has some unique properties. Having a lender who specializes in those properties will not only save you stress and time but ensure a successful closing. For example, I was working with qualified clients recently, and as we viewed homes, we talked about the standard and specialty loan process needed for the Big Island.

Eventually, they fell in love with a condo at Hali’i Kai, located within Waikoloa Beach Resort. Hali’i Kai is a very popular subdivision, yet it’s considered a condotel by mainland banks and requires at least a 20% cash deposit. Hali’i Kai and other unique properties on the island require a local lender who has a successful track record with these types of loans. It was essential to connect them to the right lender.

Low-Interest Rates

With historic low interest rates, many people are buying seconds homes, especially here on the islands. With the low interest rates, many cash buyers take advantage of these low interest rates and take out a partial loan. Speaking to a loan officer can help you look at your debt ratio and provide insights you may not see.

Poor Lenders vs. a Great Lender

I have seen lenders who make the client’s life a living ****. Buying a home is already one of the most stressful things one can do. You don’t want added stress and the constant fear of losing your dream home or investment property.

A great lender will have the right amount of communication, not too much and not too little. They will take the time to review your income documents thoroughly. Then they will provide a pre-approval letter, so you feel confident during escrow.

West Hawaii Real Estate Specialist

Working with a real estate agent that knows the community’s pros and cons will help you feel more confident with your real estate decisions. As a West Hawaii real estate specialist, I bring professionalism, honesty, and dedication. I utilize technology and marketing to the fullest while maintaining strong communication.

If you are curious about Real Estate on the Big Island or need a great lender to work with, I welcome the opportunity to connect with you.

With aloha,

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Anita Drysdale

June 19, 2021

My husband and I are interested in possible purchasing a vacation rental on the Big lsland. We own our home here in California and for now we will stay in California until retirement. We are looking to find out how can we make a possible dream come to life. I guess the first question is we need to find out how much we can qualify for before we take the next step. Is this something that you can help us with? We are actually coming to the Big Island on 7/4/21. I would greatly appreciate you help in the right direction.

Much Thanks
Anita Drysdale

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