Do you want to buy a house in Aloha State? you’re not alone. There are about 550,000 in Hawaii housing units According to the US Census Bureau, about 58% of households have their own homes 2018 American Community Survey.
The average housing price of Hawaii is $ 631,700, which is double the national average price of $ 229,700. Even though housing in Hawaii is much more expensive than the national median, you can find homes in some areas at a lower than Hawaii median price.
US News’ 2020 Best Air Mortgage Lender
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Lender highlights
- Mortgage Type: ARM, traditional, FHA, first time homebuyer program, home equity lines of credit, refinance, VA
- Minimum FICO Credit Score: 600
- Maximum loan amount: $ 5 million
- Better Business Bureau Rating: A +
Best counter
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Different types of mortgages
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Annual percentage rate or closing cost rebate for qualifying Bank of America and Merrill Lynch clients
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No closing costs and no annual cash balance fees for balance transfers and HELOCs
Before you apply
- Mortgage Type: ARM, Traditional, FHA, Jumbo, Manufactured Homes, Refinance, Reverse, USDA & VA
- Minimum FICO Credit Score: 600
- Maximum loan amount: Different
- Better Business Bureau Rating: A +
Best counter
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Receives strong customer service rating from Better Business Bureau
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Offers a wide range of mortgage products
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Offers exclusive mortgage programs for first time buyers and manufactured homebuyers
main characteristics:
- Mortgage Type Offered: Traditional, FHA, VA, ARM, Refinance (Conventional), Refinance (FHA), Refinance (VA), Home Equity Loan
- Minimum FICO Credit Score: 500 with conditions
- Maximum debt-to-income ratio: 43% for FHA
- Maximum combined debt-to-value ratio: 90%
- JD Power Satisfaction Rating: Four out of five
Best counter
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LoanDepot mortgages have a lifetime guarantee, meaning that if you ever decide to refinance an existing LoanDepot loan, the company will waive the lender fee and reimburse the appraisal fee.
Highlight:
- Mortgage Type Offered: ARM, FHA, VA, Refinance (FHA), USDA, Traditional, Refinance (Traditional)
- Minimum FICO Credit Score: 580 (FHA), other loans vary
- Maximum debt-to-income ratio: 60%
- JD Power Satisfaction Rating: Five out of five
Best counter
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The complete loan procedure is available online.
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Wide variety of mortgage products.
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Good customer service rating.
Before you apply
- Mortgage Type: ARM, Traditional, FHA, Refinance, USDA and VA
- Minimum FICO Credit Score: 660
- Maximum loan amount: $ 1.5 million
- Better Business Bureau Rating: A +
What are the mortgage rates in Hawaii?
House interest rates Range from 2.38% Service 2.75% in Hawaii.
What are today’s mortgage rates?
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Loan type |
Rate of this week |
Last week rate |
| 30-Year Fixed Rate Mortgage | 2.96% | 3.06% |
| 15-Year Fixed Rate Mortgage | 2.48% | 2.62% |
| 30-Year Fixed-Rate Jumbo Mortgage | 2.96% | 3.01% |
| 5/1 ARM | 3.04% | 3.03% |
| 5/1 Jumbo ARM | 2.92% | 2.89% |
* Rates up to November 13, 2020
mortgage calculator
Are you reaching your dream home? US News’ mortgage calculator will show you how much home you can buy.
What are some Hawaii homebuyer programs?
The Hawaii Housing Finance and Development Corporation has a few programs to help potential Hawaii homebuyers buy homes.
- available to: Qualified Hawaii Homebuyers.
- Income Range: Different from county (see) Income range).
- Homebuyers for the first time only? No, but at no point in the last three years should there have been a proprietary interest in a major residence.
- Benefit: A federal income tax credit of up to 20% of your annual mortgage interest.
- available to: Qualified Hawaii Homebuyers.
- Income Range: Different by county and household size (see) Income range).
- Homebuyers for the first time only? No.
- Benefit: An opportunity to buy housing at an affordable price.
Advertisement Disclosure: Some of the loan offers on this site are from companies that are advertising customers of US News. Advertising ideas can impact offers that appear on the site, but do not affect any editorial decisions, such as which loan products we write about and how to evaluate them. This site does not include all loan companies or all loan offers available in the market.