Hawaii Real Estate Mortgage

Hawaii Mortgage Information

Mortgage rates are constantly changing and prospective Buyers are best served by working with a knowledgeable Hawaii mortgage professional. Rates below are updated weekly, for the up-to-date details and information on available loan products, contact our team of Hawaii mortgage experts serving all of Maui, Oahu, Big Island, and Kauai with Aloha.
            

Based on 1/24/22 10:06 PM CST MBS Market

30 Year
  Conventional FHA VA JUMBO
Interest Rate 3.750% 3.50% 3.250% 3.750%
APR 3.787% 3.822% 3.286% 3.872%


15 Year
  Conventional FHA VA JUMBO
Interest Rate 2.990% 2.990% 2.750% 3.500%

APR 3.056% 3.564% 2.815% 3.714%

Disclaimer: Rates shown are based on a 740 FICO score, Loan-toValue of 80%, debt to income ratio of 34%, for primary residence purchase of single family residence. This is not a commitment to lend as defined by Regulation Z. All borrowers must meet qualification criteria. Interest rates are subject to change without notice. 

For those interested in the Hawaii Real Estate market, being knowledgeable about available financing options can be a key in determining which properties best fit real estate objectives while being financeable viable and prudent. Available products vary based on financial profile of the prospective Buyer and subject property. Below are the most commonly offered mortgage products serving the Hawaii real estate market:

Conventional - The conventional mortgage is the preferred choice for borrowers with good credit who can put together a larger down payment. Some of the benefits of conventional mortgages include having a lower interest rate, fewer applicable fees and penalties.  There are various fixed and adjustable-rate options. Down payment requirement may vary, with a down of 20% or more, a borrower may avoid private mortgage insurance (PMI).

FHA - A popular choice for first-time homebuyers due to a comparatively lower down payment requirement, 3.5% minimum down. There is a maximum mortgage amount based on the County, please inquire with our team for the most updated details. Second homes, vacation homes, and investment properties do not qualify for FHA loans. There is an up-front mortgage insurance premium and monthly mortgage insurance is required. 

VA - For eligible veterans, active-duty service members, and family members. This loan program allows veterans to get in the real estate market with no down payment requirement. There are limits as to the maximum mortgage amount, please consult with our team for the latest information. A monthly mortgage insurance is not required as the mortgage is guaranteed by the U.S. Department of Veterans Affairs

USDA - Depending on the location of the property, the USDA can be an attractive option. For eligible rural homebuyers the mixed benefits of no down requirement, flexible credit guidelines and closing costs being financeable, the USDA loan program can be a great platform towards homeownership. Geographic restrictions apply, please connect with our team for eligibility information. 

For more information, please fill out the form below or contact Lorraine McCarthy (NMLS# 2134663) at 808.359.7612 and Lynn Rome (NMLS # 953447) at 303.335.6587

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