Regarding the current mortgage trend in 2016, prospective home buyers and existing homeowners in Hawaii have fared well. To the surprise of many economists and industry groups, interest rates have improved in the second half of the year despite earlier predictions to the contrary.
This window of opportunity is proving to be timely for homeowners in need of refinancing, as well as for home- buyers seeking to maximize their purchasing power in an escalating real estate market. The favorable interest rates, combined with an ample assortment of mortgage options, make it an ideal time to be a borrower today.
Choosing the right mortgage lender to navigate the loan process is critical to accomplish financial objectives. In Hawaii, the circumstances presented by borrowers and properties can often vary a great deal from one transaction to the next. As a result, guidance from a qualified Home Loan Originator is needed to educate borrowers on the ideal loan options for their specific situation.
Our team at Compass Home Loans is comprised of knowledge- able and experienced mortgage professionals. Each of our Loan Originators is licensed through the National Mortgage Licensing System which requires a back- ground check, completion of course work, a federal exam and continuing education.
In addition, as an independent local mortgage banker, Compass Home Loans has always been singularly focused on providing optimum lending solutions tailored for our community. “We know mortgage lend- ing, and we know Hawaii.” That simple statement goes a long way in avoiding problems and overcoming challenges that can arise in transactions.
In conjunction with our knowledgeable staff, Compass Home Loans offers a complete range of loan programs to assist borrowers:
- Conventional Fannie Mae/Freddie Mac
- Jumbo and portfolio
Our USDA and VA programs provide financing options with zero down payment at very competitive pricing. Compass Home Loans is a direct Seller for both Fannie Mae and Freddie Mac, which allows us to offer conventional loan programs with minimal credit overlays. We are also an approved lender with the Hawaii Housing Finance & Development Corporation, which allows our eligible borrowers to take advantage of tax credits through the Mortgage Credit Certificate program (MCC). In addition, our Jumbo loan options offer loan amounts up to $4 million for properties in the luxury market. Most of these loan programs are available with either fixed rate or adjustable rate options and loan terms between 15 and 30 years.
At the present time, Compass Home Loans is offering a Purchase Promotion for new purchase applications received before September 30, 2016. Eligible borrowers receive an appraisal credit up to $695 at closing. This promotion is subject to certain restrictions, so please contact our office for more details. To obtain more information on Compass Home Loans, or to schedule a no obligation consultation with one of our Home Loan Originators, please feel free to call us at (808) 518-3650 or visit our website at www.compasshawaii.com.