Hawaii mortgage lenders

When looking for a mortgage lender, it pays to use companies experienced in Hawaii real estate loans. Lenders that know Hawaii's market understand how our transactions are structured and are better at getting your loan done ON TIME! Inexperienced lenders make empty promises and frequently are unable to have the mortgage funded by closing. Then we have to ask the seller for additional time to close. This makes the seller unhappy and delays your home purchase.

Some lenders we've worked with:

Noreen Ho - Savvy Realty and Loans (808) 398-8528 - e-mail
Linda Nakanelua - Central Pacific Home Loans (808) 781-6822 - e-mail
David White - Harbor Financial (808) 954-6088 - e-mail
Joseph Lee - Mortgage Source (808) 225-2270 - e-mail
Grant Uyeno - Point Financial (808) 955-7400 - e-mail
Tracie Dux - Hawaii USA Federal Credit Union (808) 534-4754 - e-mail
Colin Wright - Applied Wholesale Mortgage (877) 912-9669 - e-mail

Some of Hawaii's banks are:

First Hawaiian Bank - (808) 643-4663
Bank of Hawaii - (888) 643-3888
American Savings Bank - (800) 272-2566
Territorial Savings Bank - (808) 946-1400
Hawaii National Bank - (808) 528-7755

A California-based lender

In January 2008, we closed on a home purchase with a mainland lender and it went very smoothly. Normally, you'll hear horror stories about using mainland lenders and I have a few I could tell you. However Satish Dadral got the job done and we were even able to close early.

Satish Dadral - Wells Fargo Home Mortgage (East San Jose, CA). Office phone: (408) 223-3060 Cell: (408) 318-1233 - e-mail

Please note that we are not specifically endorsing any of these lenders or banks. Buyers should determine which lending institution best suits their individual needs.

Applying for a mortgage loan

Here's a list of items your loan officer may need:

Tax returns and W-2's for the last two or three years.
Current paycheck stubs for one consecutive month.
Social Security number.
Bank statements for the last two months.
Monthly debt info (car payments, credit card balances).
Rental lease agreements.
Residence history (where you've lived in the last two years).

Tips for getting the best mortgage

What's the interest rate? The lower the interest rate, the lower your monthly payments will be. If you're going to live in the house for many years, a 30-year or 15-year fixed rate mortgage is probably the best deal. Fifteen-year mortgages normally have lower interest rates, however you will have higher monthly payments. Watchout for ARM (adjustable rate mortgage) loans that have varying interest rates. Those are the type of loans that have gotten so many homeowners in trouble lately.

How many discount and origination points is the lender charging? The more points you pay, the lower the interest rate. Lenders have different programs with different combinations of points and interest rates.

Get a good faith estimate. The good faith estimate will give you an idea of the total amount of money you'll need to put into escrow just before the property records into your name.

Get a lock on the interest rate. If your lender offers a great deal on the interest rate, you can buy a lock for 30 or 45 days. The longer the lock, the more money it costs. When interest rates are going up and down in an uncertain environment, it's good to lock in when you feel comfortable with the interest rate.

Watchout for prepayment penalties. What if you decide to sell your house five years from now? If your loan has a prepayment penalty, you'll be in for a rude surprise when it's time to sell. Ask your lender directly if there's a prepayment penalty. Loan documents should plainly state whether or not there's a prepayment penalty.

Mortgage Rates in Hawaii as of Wednesday, September 17, 2008

Latest rates, based on 20 percent down, $200,000 owner-occupant mortgages. The rates and terms may vary; check with lenders for details. Rate information is provided by the lenders and compiled, as a public service, by the Honolulu Board of Realtors® Research Department.

                                   
                                          INTEREST   %      %     
LENDER                     TERM/TYPE        RATE   POINTS  *APR

                      
Acceptance Capital Mtg     15-YR Fixed     5.000   1.000   5.310  
674-8989                   30-YR Fixed     5.375   1.000   5.560  
                           1-YR ARM        5.000   1.000   7.430

                      
Aina Mortgage              15-YR Fixed     5.250   1.000   5.463  
263-2462                   30-YR Fixed     5.500   1.250   5.650  
                           1-YR ARM        5.375   1.500   5.685

                      
American Home Finance      15-YR Fixed     5.375   0.000   5.460  
534-1945                   30-YR Fixed     5.625   0.000   5.740  
                           1-YR ARM        6.500   0.000   7.000

                      
American Savings Bank      15-YR Fixed     5.125   1.875   5.494  
593-1226                   30-YR Fixed     5.500   2.000   5.734  
                           1-YR ARM        4.125   2.000   5.602

                      
Ascent Home Loans          15-YR Fixed     4.625   2.500   5.068  
447-9629                   30-YR Fixed     5.375   2.250   5.618  
                           1-YR ARM        5.125   2.250   5.013

                      
Bank of Hawaii             15-YR Fixed     5.125   1.750   5.395  
694-1444                   30-YR Fixed     5.625   1.875   5.799  
                           1-YR ARM        4.500   2.000   5.365

                      
Central Pacific HomeLoans  15-YR Fixed     4.875   2.250   5.266  
356-4000                   30-YR Fixed     5.500   2.000   5.711  
                           1-YR ARM        5.375   2.000   5.122

                      
CUSO of Hawaii             15-YR Fixed     4.875   1.750   5.195  
539-0193                   30-YR Fixed     5.250   2.500   5.511  
                           1-YR ARM        4.000   1.000   4.913

                      
Finance Factors            15-YR Fixed     4.875   1.875   5.234  
522-2000                   30-YR Fixed     5.500   1.625   5.676  
                           1-YR ARM        4.875   2.375   5.492

                      
First Hawaiian Bank        15-YR Fixed     5.000   2.000   5.400  
643-4663                   30-YR Fixed     5.500   2.000   5.740  
                           1-YR ARM        4.000   2.000   4.890

                      
Hawaii National Bank       15-YR Fixed     4.875   2.000   5.182  
528-7848                   30-YR Fixed     5.500   2.000   5.684  
                           1-YR ARM        3.875   1.750   4.599

                      
HomeStreet Bank            15-YR Fixed     5.125   1.375   5.488  
596-0343                   30-YR Fixed     5.375   2.125   5.657  
                           1-YR ARM        4.125   2.000   5.572

                      
House of Finance           15-YR Fixed     5.125   2.000   5.593  
847-8493                   30-YR Fixed     5.625   2.000   5.909  
                           1-YR ARM        4.625   2.000   5.456

                      
Imperial Mortgage          15-YR Fixed     4.875   1.875   5.241  
263-6363                   30-YR Fixed     5.375   2.000   5.910  
                           1-YR ARM        4.375   2.000   5.388

                      
Innovative Island Mtg      15-YR Fixed     5.000   2.000   5.388  
228-6610                   30-YR Fixed     5.500   2.000   5.733  
                           1-YR ARM        4.875   2.000   5.240

                      
Lau, Donald Mortgage       15-YR Fixed     4.875   2.000   5.297  
732-8893                   30-YR Fixed     5.250   2.000   5.502  
                           1-YR ARM        4.250   2.000   4.992

                      
Legacy Mortgage            15-YR Fixed     4.875   0.625   5.081  
545-2212                   30-YR Fixed     5.250   1.375   5.442  
                           1-YR ARM        3.750   1.375   5.379

                      
MetLife Home Loans         15-YR Fixed     5.000   1.750   5.394  
275-8000                   30-YR Fixed     5.375   1.750   5.563  
                           1-YR ARM        4.750   2.000   4.953

                      
Mid-Pacific Mortgage       15-YR Fixed     5.375   0.000   5.415  
587-7785                   30-YR Fixed     5.750   0.000   5.774  
                           1-YR ARM        4.625   2.000   5.853

                      
Miranda, Violet Mortgage   15-YR Fixed     4.875   1.750   5.315  
488-7749                   30-YR Fixed     5.375   1.750   5.639  
                           1-YR ARM        5.250   0.375   5.055

                      
Mortgage Express           15-YR Fixed     5.500   0.000   5.637  
532-9555                   30-YR Fixed     5.875   0.000   5.960  
                           1-YR ARM        4.625   1.000   5.045

                      
Mortgage Lenders           15-YR Fixed     5.250   0.000   5.399  
483-5626                   30-YR Fixed     5.750   0.000   5.899  
                           1-YR ARM        5.250   0.000   7.199

                      
Mortgage Resources         15-YR Fixed     4.875   2.000   5.299  
521-1744                   30-YR Fixed     5.375   2.000   5.631  
                           1-YR ARM        4.625   2.000   5.651

                      
Navy Federal Credit Union  15-YR Fixed     4.875   1.500   5.155  
254-7889                   30-YR Fixed     5.375   1.750   5.567  
                           1-YR ARM        5.375   1.375   5.539

                      
New Horizons Financial     15-YR Fixed     4.875   1.625   5.440  
483-7400                   30-YR Fixed     5.375   0.750   5.808  
                           1-YR ARM        4.750   1.250   7.181

                      
NorthStar Alliance         15-YR Fixed     5.000   2.000   5.542  
536-3656                   30-YR Fixed     5.375   2.000   5.698  
                           1-YR ARM        5.500   2.000   8.091

                      
One Stop Financial Svcs    15-YR Fixed     5.250   0.508   5.567  
983-3323                   30-YR Fixed     5.250   2.079   5.582  
                           1-YR ARM        4.125   2.000   5.207

                      
Option Mortgage            15-YR Fixed     4.875   2.000   5.289  
373-4803                   30-YR Fixed     5.375   2.000   5.624  
                           1-YR ARM        4.625   2.000   5.400

                      
Phoenix Financial          15-YR Fixed     5.000   1.750   5.450  
952-9822                   30-YR Fixed     5.500   1.750   5.687  
                           1-YR ARM        4.250   2.000   4.560

                      
Spectrum Mortgage          15-YR Fixed     5.000   2.000   5.435  
522-5522                   30-YR Fixed     5.500   2.000   5.728  
                           1-YR ARM        4.125   2.000   5.117

                      
Territorial Savings        15-YR Fixed     4.875   2.125   5.349  
946-1400                   30-YR Fixed     5.500   2.125   5.737  
                           1-YR ARM        4.125   2.000   4.668

                      
Wells Fargo Home Mortgage  15-YR Fixed     4.875   2.250   5.560  
946-8832                   30-YR Fixed     5.375   1.875   5.510  
                           1-YR ARM        5.250   1.875   5.540

                      
Yuen, David & Associates   15-YR Fixed     5.125   2.000   5.640  
524-4766                   30-YR Fixed     5.500   2.000   5.680  
                           1-YR ARM        4.125   2.000   4.780

*APR (Annual Percentage Rate) reflects the cost of interest, points and all other finance charges, based on a $200,000 owner-occupant loan. The APR shown for 1-Year ARM loans is computed based on the current value of the underlying rate index. Most ARMs have rate caps, both on how much the interest rate may change each year and over the life of the loan.

Sitemap