For more specific information, get Honolulu mortgage rates
Hawaii Mortgage Rates
|Unlock Bank||3.75||30 Year Fixed||Conforming||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||4||30 Year Fixed||Jumbo||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||2.25||5 Year ARM||Conforming||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||2.75||15 Year Fixed||Conforming||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||2.5||5 Year ARM||FHA||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||2.375||5 Year ARM||Jumbo||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||3||15 Year Fixed||Jumbo||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||3.25||30 Year Fixed||FHA||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||2.75||15 Year Fixed||FHA||0.7 to 3||Show Phone Number||Learn More|
By: Morris Newman | September 28th, 2012
The good news about Hawaii is that the islands have a low number of underwater homeowners, or owners who owe more on their mortgage than their home is worth. The number of underwater homes in Honolulu is around 5%, roughly on a par with other “low-watermark” places like Bismarck, ND and State College, PA.
Even with those low numbers, however, many Hawaii residents may be finding themselves unable to refinance to current low rates, because lenders will rarely refinance a mortgage with a principal balance higher than the market value of the home. Underwater borrowers are especially worrisome to public officials and economists because this group of home owners is at greatest risk of losing their homes.
For those under water homeowners who have managed to make payments throughout the Great Recession, the federal government has created a new type of home loan known as HARP 2.0. The outstanding feature of HARP 2.0 is that owners are able to refinance for more than 100% of the home value. Many borrowers, in fact, borrow more than 125%. In a sense, officials at the Federal Housing Finance Agency, which created HARP 2.0, see the government backed loan as a reward to homeowners for continuing to make payments, rather than walking away from the home. To qualify, home owners need to be current on their home payments and they must be paying on a mortgage owned by Fannie Mae or Freddie Mac. The two “super agencies” buy the majority of home loans in America.
Making HARP 2.0 potentially more attractive to people seeking to refinance, borrowers can take advantage of current low interest rates, which appear to be heading to record lows. Some lenders will add some extra fees to HARP loans, so it’s a good idea to talk to several lenders. In addition, different lenders have different guidelines, so if you are turned down by one lender, you should try again at another. In Hawaii, fish and snorkelers should be underwater—not real estate.
FreeRateUpdate.com surveys more than two dozen wholesale and direct lenders’ rate sheets to determine the most accurate mortgage rates available to well qualified consumers at a standard 0.7-1.0% point origination fee.
Latest HARP Mortgage News March 8th, 2014
FHA Home Loans Can Make Hawaii Real Estate a Little More Affordable
By: Morris Newman | September 28th, 2012
Hawaii is a desirable place to live, both for native islanders and the thousands of people who buy vacation homes in the Aloha State. Not surprisingly, Hawaiian real estate is in demand, and demand leads to higher home prices. Even … Continue reading
Hawaii Mortgage Rates: Hawaii Mortgage Rates Stable After Recent Spike
By: Vanessa Rodriguez | January 21st, 2011
At the beginning of this week, Hawaii mortgage rates slightly increased by 0.125 percent over last week. For a 30-year fixed rate conforming mortgage in Hawaii the mortgage rate is 4.625 percent and 4.000 percent for a 15-year fixed rate conforming mortgage loan. For a Hawaii 5/1 adjustable rate mortgage, the mortgage rate is 3.125 percent. Hawaii borrowers that are well qualified are able to obtain a mortgage with these low mortgage rates at only 0.7 to 1.0 origination points. Continue reading
Navigating Through the Hawaii Real Estate Market
By: admin | January 26th, 2010
By Andrew Meislin | email@example.com | www.LauhalaMortgage.com I recently read that Disney’s Pirates of the Caribbean will be filming their next film in Hawaii (Island of Kauai & Maui) . The film reminded me of two things; my younger years regatta sailing … Continue reading