Home Buying in Honolulu>Question Details

brianwatson30, Home Buyer in Bloomington, IN

Job offer in Oahu, considering relocation. But, financing a home purchase is tricky. Any 100% finance options?

Asked by brianwatson30, Bloomington, IN Sat Oct 27, 2012

Annual income $90k, budget up to 425-450k comfortably. I have very little savings for a down payment right now, so bad timing. I'm a first time home buyer. Renting is out of the question. Are there options for 100% financing anymore? 80/20 loans? Are there options?

Help the community by answering this question:


Hi Brian,
Absolutely, there are options. It is best to speak with a Mortgage broker to decide what that can be.
However, your agent may also be able to get you some seller financing. It all depends on the deal.
Don't give you hope. There is always a way.

Warm Aloha,
Christine Kim, JD R SFR
0 votes Thank Flag Link Sat Oct 27, 2012
One of the tricky parts about relocating and buying is qualifying for the loan. I recommend that new homeowners shop for their loan first, home second. Get qualified (I can send you a few names/numbers of lenders), then go house hunting.

Frank Diaz
808.723.0900 cell
0 votes Thank Flag Link Sat Oct 27, 2012
Email me at A2Z@usa.com for property details and photos of homes that fit your budget.
0 votes Thank Flag Link Sat Oct 27, 2012
Two options for 100% financing are USDA Rural Loans, which are area specific, and VA, for military personnel.
FHA loans offer 3.5% down, and conventional can be as low as 5% down. Seller-paid closing costs can be negotiated. You are wise to recognize that RENT is another word for paying someone else's mortgage.
0 votes Thank Flag Link Sat Oct 27, 2012
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