Hawaii Luxury Real Estate: Jumbo Loans and Current Rates

As Buyer’s continue to take advantage of great pricing on some of West Hawaii’s luxury options, a variety of lenders are coming forward with attractive financing options.

I wanted to share a snapshot of current rates with my readers in Hawaii’s luxury market so they can get an idea of how attractive rates are right now!

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In Hawaii, A “jumbo loan” is made on a property where a Buyer is obtaining a mortgage of more than $625,500. To be clear, this isn’t a purchase price of over $625,500, this is a loan amount of over $625,500.

As confirmed with an on island lender I work with earlier this morning, purchased as a second home, 20% down and loan amount up to $1,000,000 rates below are applicable. Higher loan amounts are available, at slightly higher rates/amount required down.

4.25% – No Points – APR 4.098%

4.125% – 0.50 Point – APR 4.182%

4.00% – 1.00 Point – APR 4.265%

As you can see, these rates are fantastic! They mirror and almost beat current conforming loan amounts.

An important point to remember while shopping for your mortgage – is how you get your loan.

If you walk into the “Bank of Kona” – they may agree to give you a loan, on their terms and pricing. They may be offering specials, or rebates to sweeten the deal. They are however, selling you their product.  A mortgage broker works for you, the client, to get the best rate available, out of a wide variety of potential lenders. There is certainly the possibility that you may find a better rate and terms offered via this route.

I work with a variety of on island lenders who are available to discuss options and lending scenarios that best fit each purchaser’s need.

When you are ready for your Hawaii purchase – make sure your interests are represented by a proven REALTOR®, who has experience in the luxury market!


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