What makes mortgage lending in Hawaii different?
The residential mortgage market in Hawaii is unlike any other in the country. As one of the most beautiful places in the world full of amazing people & culture, it is a desirable place to live, own a second home, or an investment property. Navigating the residential mortgage market can be difficult for borrowers, so borrowers seeking a residential mortgage in Hawaii need a trusted advisor with the knowledge and experience to guide them through its peculiarities. Choosing a Hawaii based bank familiar with the nuances that make residential mortgage lending in Hawaii unique as well as the programs to accommodate Hawaii’s many atypical homes is generally a great option for borrowers.
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How can the bank afford to cover my closing costs?
One of the least understood concepts on mortgage loans is the interest rate. I know this because I field questions daily such as “what’s your interest rate?”, which indicates that borrowers do not understand that banks can give them any interest rate within a certain range. The lower the interest rate the more the […]
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Why do banks ask for my tax returns?
One of the pillars of sound residential mortgage lending for any bank is verifying the borrower’s ability to repay the loan. As part of the lender’s process to confirm you do indeed have the income to pay back the borrowed money, the lender will ask you for your income documents. Income documents come in many […]
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March 2017 Oahu Housing Statistics
Oahu median home prices and sales volume are mostly steady with a slight uptrend, and properties are selling quickly, as indicated by the relatively short days on market. The 30.2% increase in pending sales for single family homes and 23.6% for condos shows that there’s continued demand for housing across the board. With the more […]
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