Kihei Villages Approved for FHA Financing

Posted by Alex Cortez R(B) on Friday, September 14th, 2018 at 4:26pm.

Question: I'm interested in buying a condo in Kihei but looking for either USDA or FHA financing because of the lower down payment, but I don't have see a lot of options. Is Kihei Villages approved?

Maui FHA Loans

Answer:  Perfect timing. Kihei Villages was recently approved for FHA Financing, effective as of September 11, 2018. Backed by the Federal Housing Administration, the FHA loan program is a popular one, particularly among first-time home buyers. This is great news for both Buyers, as now this property is an option in a Kihei condo market that lacks other FHA options, and for Sellers, who now theoretically have a larger pool of prospective purchasers. The only other condo in Kihei currently approved, as per the HUD website, is the Island Surf building but that is a decisively different type of property at a higher price point. With over 500 units, Kihei Villages is a large micro-market with a plethora of options within the property. 

Benefits of the FHA program include having lower requirements than a conventional loan, having less stringent timeframes for life events (i.e. can apply for FHA 3 years after foreclosure/short sale, compared to 7 years for conventional loans), having lower requirements for credit scores and more sympathetic loss mitigation to account for hardship and/or disasters. 

Other Maui condos approved for FHA include: Puuone Towers & Plaza (near expiration as of this writing), Opukea at Lahaina, Iao Parkside, and Napili Villas - there are more, contact us for a full list.

For those interested in speaking to a lender about FHA loans, contact us for a list of our preferred/recommended lenders. Thinking about buying or selling at Kihei Villages? Contact us below. 

Please provide a valid email address.

Specializing in Makena and Wailea real estate, Alex Cortez is fully dedicated to representing his clients ethically and diligently. Contact him at 808.385.5034 or Alex@MauiRealEstateSearch.com for more information.

Leave a Comment

Hawaii Real Estate News.