Working with the Wrong Lender

I came into lending 22 years ago with a goal of helping people attain their dream of homeownership.  I have always been an advocate for you, the consumer.  I have testified as an expert witness, worked with both State and Federal Regulators to write the tests we in our industry must pass in order to… [Read More]

How Fast Can A Mortgage Loan Happen?

Over the years I have written about this particular subject many times.  I am constantly asked by real estate agents and nervous buyers how long we will take to get them their financing.  The quick answer is that “turn times” the term we use in the mortgage industry are now quicker than they have been… [Read More]

Should you pay Points?

points

To pay points or not to pay points, that is the question! In today’s article we discuss what points are, and if you should pay them or not. The one thing I have not been able to find out, it why they are called “points” in the first place. In simple terms, paying points will… [Read More]

Leaving it to the Kids

If there’s one dominant theme I deal with more than any other is the planning or result of parents leaving their largest nest egg to their children. Today we’ll discuss the realities of this practice with my over 22 years of originating mortgages to the people of Hawaii. Have you given much thought as to… [Read More]

More Mortgage Loan Options

After the meltdown in 2008, all of the goofy loan products that got us into the financial mess that tanked the real estate market, and our economy as a whole, disappeared. The pendulum swung way too far from “let’s give anyone a mortgage” to the other extreme of “only the best of the best will… [Read More]

Non-Conforming Properties

Do you know what a non-conforming property is, and more important, how it may affect your chances of getting financing? The information I will present today is taken from Honolulu’s building codes, but in almost all cases, the same holds true for Kauai, Maui, and Hawaii counties. I recently had a transaction where there was… [Read More]

Condo Pitfalls – A Lesson to be Learned by All

A client I helped finance a few years ago forwarded me some information about an issue at his condo complex that should be a wake-up call for anyone who currently owns a condo, or wishes to someday own one. Hawaii is a geologically young place. Our islands were formed only a few million years ago…. [Read More]

Mortgage Qualification Basics

Qualifying for a mortgage is easy to understand if you think about the 4 legs of a chair. Each leg is equally important. A longer leg cannot compensate for a shorter leg. A lender needs stability from each leg in order to feel comfortable giving you a loan. It’s no different than feeling uncomfortable sitting… [Read More]

Using Your Business’ Funds

Where do self-employed borrowers earn their money? From the business they own. It’s that flow of money that not only determines their income, but is also in almost all cases their source for the money they have in the bank. How and when they money flows from the business to you personally will make all… [Read More]

Real Estate & Storms – Hurricane Lane

How does an impending hurricane affect real estate and lending? While we are all waiting out the effects of Hurricane Lane, let’s highlight some of the issues that arise. Let’s first start with the news a hurricane is on track to our islands. Except for those already in the midst of a transaction, most people… [Read More]