Financing in Hawaii : Advice

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Laura Feghali, Real Estate Pro in Stamford, CT
Laura Feghali answered:
Just refinanced a rental in Denver with Obamas make homes affordable program.
Hi Jim,
Why don't you discuss your rental in Oahu with the lender who did your refinance in Denver? He may give you some ideas on how to proceed.

Good luck to you!

Laura Feghali ... more
0 votes Share Flag Mon Sep 10, 2012 Financing in Ewa Beach
Patrick Garc…,  in Honolulu County, HI
Patrick Garcia asked:
Got any Homes for Sale but need repairs? Got the timely solution. A renovation loan will be able to help your seller move that property or the buyer to consider buying it. For additinoal details , call me at 808 450 4203.
0 votes Share Flag Mon Aug 27, 2012 Financing in Honolulu County
Randy Brumme…,  in Princeville, HI
Randy Brummett answered:
Any idea what the current cost/sq.ft for new construction might average now for a custom-build in Puako, on Kaua`i?
Aloha,
It seems the cost, according to some builders, is around $2.50 a square foot. And of course it goes up from there depending on how high end you go. I'm guessing you already ... more
0 votes Share Flag Thu Jan 17, 2013 Financing in Lihue
Joseph Shmur…, Real Estate Pro in Irvine, CA
Joseph Shmurak answered:
I just bought a house and considering knock-down rebuild. What would happen if I didn't contact the mortgage company?
Andy,

The call provision is an important component of various types of debt agreements that provider the issuer of an agreement to exercise the privilege of calling or retiring the d ... more
0 votes Share Flag Mon Aug 6, 2012 Financing in Paauhau
Isabella For…, Real Estate Pro in Honolulu, HI
Isabella Forster answered:
I have 2 units in a hotel-condo bldg. I still owe 90K at 7%. I want to refinance at a lower rate. Anyone know of a lender that can help?
Depending if you have a full kitchen or not, this could be quite a challenge. We haven't seen financing for lodging units in the past few years, but it might come back. Best bet would b ... more
0 votes Share Flag Fri Jun 15, 2012 Financing in Honolulu
Gregorio Den…, Real Estate Pro in ,
Gregorio Denny answered:
I am looking at reo/forclosed homes in Hawaii that cost less than 90,000 and plan on a 20% down payment. Will banks loan on such a small amount?
Generally you should have no trouble finding financing on loan amounts of $50K and up.
0 votes Share Flag Fri Apr 27, 2012 Financing in 96704
Katie Minkus,…, Real Estate Pro in Kamuela, HI
Katie Minkus, R(B) answered:
How many people know about the USDA Rural 100% financing first time buyer program ?
I'd say just about all the REALTORS paying attention on the Big Island, that's for sure, because almost all of the properties here are zoned such that buyers can take advantage of that ... more
0 votes Share Flag Fri Mar 14, 2014 Financing in 96789
Bill Parecki, Real Estate Pro in Hilo, HI
Bill Parecki answered:
Can a home without a water catchment system in the Puna area be financed? Which lenders will provide financing? Thanks for sharing!
Aloha,

The lender is going to require the property to have water. If home is on catchment then you will have to replace the water tank and pump and this will have to be done prior t ... more
0 votes Share Flag Mon Mar 19, 2012 Financing in 96778
Jeanne Feeni…, Real Estate Pro in Bernardsville, NJ
Jeanne Feenick answered:
Worrying that my bad habit will effect our chance of approval, will overdraft fees effect our chance, they only occur on one of our accounts
Hi there, talk to your mortage rep - the underwriters are mighty picky, so at minimum you will need to explain the situation very well. My suggestion would be to also remedy it particu ... more
0 votes Share Flag Fri Nov 11, 2011 Financing in 96707
Ralph  Gray, Real Estate Pro in Honolulu, HI
Ralph Gray answered:
Two friends have title as joint tenants but only one is on the loan. If that person (one with the loan) dies, is the other owner responsible? Thanks,
No he is not responsible for the loan, but the bank can foreclose on the property, since the lien is on the property.
0 votes Share Flag Tue Nov 1, 2011 Financing in Honolulu
Dp2, Other/Just Looking in Virginia
Dp2 answered:
To refinance a rental property in Honolulu - Portfolio Loan, anyone?
Your question isn't 100% clear. Although it's clear that you and at least another person jointly own this property, it's not clear why you'd like to refinance or wh ... more
0 votes Share Flag Fri Jun 15, 2012 Financing in Honolulu
Michael Mess…, Real Estate Pro in Lakewood Ranch, FL
Michael Messineo answered:
My wife and I own an investment property and are having some difficulty refinancing due to the 89% LTV, any ideas?
I dont know the LTV requirements in Hawaii but here in FL, its 80% for a no cash out refi. If you have other property that you can take a small equity line of credit or refinance with ... more
0 votes Share Flag Sun Nov 11, 2012 Financing in 96706
Frank Diaz, Real Estate Pro in Honolulu, HI
Frank Diaz answered:
I own an investment property with a tax assessment of $479,000 with a balance of $335,00. Is there any lenders that will give me a "decent"?
Hi Bernie,

Assessed value are pretty close to sales prices these days, but there is a lot of vatiation.
Please let me know what you mean by investment property, residential, multifa ... more
0 votes Share Flag Wed Oct 13, 2010 Financing in Honolulu County
Jane Grant, Real Estate Pro in ,
Jane Grant answered:
what does finanncing 3rd party mean?
In a transaction the Buyer and the Seller are the principals. A lender or bank making a loan to the buyer to purchase the property is considered a third party to a transaction.

Mos ... more
0 votes Share Flag Thu Mar 18, 2010 Financing in 96814
Dan Tabit, Real Estate Pro in Issaquah, WA
Dan Tabit answered:
should i refinance a 5.75 fixed with 27 years to go for a 7year arm at 4.625 for a savings of about 500.00 per month no points
Assuming your facts are right, it depends. Where do you expect to be in the next 7 years? If you are confident you will have sold the home by then, it might make sense. You say, &quo ... more
0 votes Share Flag Fri Dec 4, 2009 Financing in Haiku
Frank Diaz, Real Estate Pro in Honolulu, HI
Frank Diaz answered:
I live in a condotel in Hawaii and would like a reverse mortgage. Where to look?
Hi Cleonard,

I would check with a few mortgage brokers. They can recommend programs from local lenders such as BOH and First Hawaiian. It's best to check out both, through the local ... more
0 votes Share Flag Sun May 19, 2013 Financing in 96766
Frank Diaz, Real Estate Pro in Honolulu, HI
Frank Diaz answered:
What does an ocean view add to the value of a home in dollars and cents?
Hi Roya,

It is entirely subjective. Personally, I would rather not be directly on the ocean. Lots of sand, dust, higher maintenance costs, etc.
The "ocean view" depends a lot on whe ... more
0 votes Share Flag Sun Jun 7, 2009 Financing in Waialua
Patrick Lamb…,  in Waikoloa, HI
Patrick Lambert answered:
IS THERE ANY LOAN A FIRST TIME HOMEOWNER CAN TAKE ADAVANTAGE OF FOR RENOVATION?
Funny you should ask that question. I have just listed a home that will require a rehab loan or cash. Since there is not very much cash floating around these days I thought I would get ... more
0 votes Share Flag Wed Jul 16, 2008 Financing in Waianae, HI
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