Relocating 2 Oahu

Unusually low mortgage rates

Click here for a good article on unusually low mortgage rates.

10 Questions to Ask Your Lender

Be sure you find a loan that fits your needs with these comprehensive questions.

5 Factors Affecting Your Credit Score

"How do they determine what my credit score is?"

Ever ask yourself that question?  Click here for the answer!

Pre-Qualification & Pre-Approval: What's the Difference?

You've heard these terms before.  What do they mean?

The act of getting pre-qualified is the first step in obtaining mortgage financing.  The lender will ask the borrower a few questions to provide the lender with a quick overview of the borrower's income, debt savings, etc.  The lender will also obtain a credit report to help determine the borrower's eligibility.

Pre-approval, however, is an actual written document stating that the borrower does indeed have the full support of a lender.  It means all necessary paper work has been done and reviewed by an underwriter.  Based on the information and documentation provided by the borrower, the underwriter will come back with a dollar amount that the borrower is approved for.

Pre-approval allows potential homeowners to shop for homes in their price range, as well as most times, the seller will take a pre-approved buyer more seriously.

Contact us today to see how you can start on the path to pre-approval!

Getting Your Finances In Order

If you're trying to figure out if you have enough money for a down payment, we have some helpful hints for you.

Click here for the full article.

More on your credit score . . .

The 3 biggest US credit-reporting firms (Equifax, Experian, & TransUnion) have announced that they have partnered up to standardize the method of calculating credit scores.  The result of this will be no matter who you pull your credit score from, all 3 places will give you the same response, whereas in the past, you could have received up to 3 different scores.

It was also reported that this new scoring system will make it easier for consumers with limited credit histories to obtain financing.

Need to Improve Your Credit?

Does your credit need some improvement?  Not sure what you should do?  We have the answers that will start you off in the right direction!

Click here for the full article.

Problems with Finding Money for the Down Payment?

A VA Loan May Be the Answer.

For those who qualify for the Department of Veterans Affairs' no-down-payment loan, finding the money for a down payment isn't an obstacle.

This loan, unlike other zero-down loans, has no restrictions on income, debt ratios, savings or credit scores.

For 2006, the VA loan limit in Hawaii is $625,000.

Traditionally, when obtaining a loan with less than 20% for a down payment, the borrower must pay for Private Mortgage Insurance (PMI).  Instead, with the VA loans, the borrowers must pay what is called a "funding fee."

Currently, this fee is equal to 2.15% of the amount being borrowed, and is generally rolled over into the mortgage.

Not sure if you qualify? Click here.