Conditional & Final Loan Approval

Conditional and Final loan approval are two milestones used to mark specific periods within the process of obtaining a mortgage loan. These two milestones are also referenced in the standard Hawaii sales contract written by the Hawaii Association of Realtors. There’s a lot of confusion over these terms and what they these approvals really mean…

Fannie Eases Condo Guidelines

Fannie Mae and Freddie Mac, known in the lending world as GSE’s (Government Sponsored Enterprises), now fund about 90% of all the residential mortgages in the country. No matter who you obtain your mortgage from, that loan will most likely be sold to either Fannie or Freddie. The lender then uses the funds they get…

Buy vs. Rent – Kauai SFR

buyvrent kauai

Mortgage rates are going up. Home prices continue to rise. For those that think they missed the boat, you are sorely wrong. If you are renting, you are paying someone else’s mortgage payment. With a projected shortage of homes in Hawaii for the next two decades, home prices will only continue to rise. Yes, we…

VA Renovation Loans

Everyone’s heard about VA loans for those that have served our country. The “crown jewel” of all mortgage loan products, it allows for 100% financing at the best rates available, and with no mortgage insurance. But there’s always been one issue that has ruined the hopes of some wishing to utilize this amazing benefit. Every…

Buy vs. Rent – Maui Condo Study

buyvrent maui

With Hawaii’s tight rental market, here more than any other place in the country, it makes sense to buy a home instead of renting. If you are currently renting, parents of kids that are currently renting, or in real estate, please share this information. Hands down, buying is significantly better – period. All of the…

Buying vs. Renting

buyvsrent

Mortgage rates are going up. Home prices continue to rise. For those that think they missed the boat, you are sorely wrong. If you are renting, you are paying someone else’s mortgage payment. With a projected shortage of homes in Hawaii for the next two decades, home prices will only continue to rise. Yes, we…

How Lava Affects Property Values

We are all fascinated with incredible images coming from the Big Island. In a recent news report, Hawaii County officials were saying that due to the loss of property taxes from the affected area, they will need to do some budget changes. That story got me thinking of property taxes, ownership of your property, and…

Pele’s Affect on Big Island Home Prices

VOG

How will the ongoing volcanic activity on Hawaii Island impact property values and transactions? The answer is surprising and varied. This picture is the VOG concentration map for Friday May 18, 2018. At first look, one might say “who would ever want to live there?” It’s easy to make quick assumptions that with the VOG,…

Volcano Affecting Hawaii Island Escrows

When the first signs of lava appeared in Leilani Estates subdivision on May 3rd, it wasn’t just the residents of that area that were affected. Insurance companies that write Homeowner’s policies in Lava Zones 1 & 2 immediately put in place a moratorium on writing any new policies. The moratorium is also in effect for…

Funds Placed in Escrow

There’s a lot of confusion these days on how to get your required funds to escrow, and what form of funds they will require. Here’s a quick guide to help make your transaction flow without any issues. Initial Deposit on Sales Contracts: These funds can be in the form of a personal check. They must…