You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!
VA Announces the 2019 Loan Limits For Loans Closed on or After January 1, 2019
In Circular 26-18-17 VA announced the 2019 county loan limits effective for loans closed on or after
January 1, 2019.
County loan limits do not apply to Interest Rate Reduction Refinance Loans (IRRRLs) as VA guarantees 25 percent of the loan amount on a IRRRL, regardless of whether the loan exceeds the limit for the particular county.
VA loans (not applicable to IRRRLs) closed on or after January 1, 2019 are eligible for the higher county loan limits even if the application date was in 2018.
If you are a doctor with deferred student loans, our Doctor Loan Program can help you save time and money on the purchase of your NEW home or refinance. If you are a qualified doctorate medical professional (MD, DDS, DMD, OD, DO eligible)with student loans deferred 12 months or more our team has a lender ready to help you.
If you have questions or would like to learn more please reach out I am happy to help!
Did you know that although interest rates have been climbing these last few years, they are still relatively low historically?
That’s because, over the past fifty years, interest rates on a 30 year fixed rate mortgage ranged from a high of 18.63% to as low as 3.31% in 2012.
The graph below provides a visual of the average interest rate on the 30-year fixed-rate mortgage. When put into a historical perspective, it’s clear that even though rates are rising, they remain at historically low levels.
To learn how you can benefit from today’s historically low rate for purchase in Hawaii, contact me today. I would be happy to help you find a licensed mortgage professional.
With all of the facts and myths surrounding homeownership, you may be left wondering if you would be better off renting. On one hand, homeownership offers the possibility of a positive return on your investment, while on the other renting lowers your financial risk and enables quick mobility.
Affordability – it is cheaper to own in most of Oahu. According to Rent Jungle as of August 2018, average rent for an apartment on Oahu, HI is $1,655 (see report)
Force Savings – The amount you pay for your home goes towards building your equity. On the other hand you could keep paying down your landlord’s mortgage. I’m sure they appreciate it…
Tax Advantages – Property taxes and interest can be itemized for tax deductions. Check out this handy matrix.
Stability – With fixed rate mortgages, your payment will stay the same each month. On the other hand you are at the mercy of potential rent increase yearly! Oahu rent increase
Improved Credit – When mortgage payments are made on time, you can achieve a better credit score. We know everyone likes to brag about their 800 credit score at the BBQ.
Take a look at this awesome matrix to see how much you will be throwing away renting over the next few years.