Getting the right mortgage for a Hawaii home a little more difficult than you thought? Annoyed with WebPages that don’t help you find what you are looking for? That is why Mortgage-Info.us is here. So if you are looking for lenders, Mortgage Rates, or Mortgage Brokers – we’ve got it. Plus when you fill out a mortgage quote form from Mortgage-Info.us, we will get you offers from 2-4 different lenders, meaning you will be able to choose the rate that you want.
Featured Mortgage Lenders in Hawaii
Hawaii Mortgage Quick Facts
Hawaii State Population: 1,211,537*
Median Hawaii Home Price: $272,700*
Hawaii Home Ownership Rate: 56.5%*
Types of Mortgage Loans Available in Hawaii
- Fixed Rate Loans
- Adjustable Rate Mortgage (ARM)
- Home Equity Line of Credit Mortgage Loans
- Interest only Mortgage Loans
- LIBOR Mortgage Loans
- Cash Out Mortgage Loans
- Refinance Mortgage Loans
- Second Mortgage Loans
- Home Purchase Mortgage Loans
- Reverse Mortgage Loans
- Special Mortgage Loans:
How Your Credit Score Affects Your Mortgage Rate
To begin with, you need to know what your current credit score is. You should compare that against the average Hawaii consumer credit score which is 691. The average national credit score is 677. Your credit score will impact what your home mortgage rate might be. Historically, home mortgage rates have ranged from 5% to over 13%. Mortgage Lenders create their home mortgage rates by using the Federal Discount Interest Rate (FDIR) and then raising it by using an internal formula to create their own home mortgage rate. When you apply for a home mortgage, your home mortgage rate will be determined by a whole host of factors, but your credit score is a very important factor.
Hawaii Mortgage State Laws
Only in Hawaii
Hawaii ranks third in growth rate of home prices. The price of homes has passed average incomes, therefore making it difficult to own a home in Hawaii.
After the mortgage is paid in full, a mortgagor sends a request to the mortgagee via certified mail, requesting satisfaction. The mortgagee does so within sixty days.
If the mortgagee fails to respond within the time limit, the situation is taken to court, and the court may determine that he mortgagee must pay triple damages, plus attorney fees, etc.
Both judicial and non-judicial foreclosures are allowed in Hawaii.
Judicial foreclosures are used when there is no “power of sale.” The property is auctioned off, and goes to the highest bidder.
Non-judicial foreclosure is used when there is a “power of sale” clause. The “power of sale” clause allows for the lender to sell the property in order to cover the remaining cost of the loan.
There are no rights of redemption in Hawaii.
Hawaii Mortgage Fraud Office
White Collar Crime Supervisor
257 East 200 South, Suite 1200
Salt Lake City, UT 84111
Hawaii County, Honolulu County, Kalawao County, Kauai County, Maui County
This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.