Gail Swanson's Blog

Maui Interest Rate Information

Gail Swanson (Maui Earth Realty) — Wed, 24 Dec 2008 15:35:58 -0800

What is the rate?

I want the lowest rate possible!

My buyers are constantly asking me what the current interest rates are for purchasing Maui Real Estate. There are many factors that affect a buyer's interest rate. One of my most reliable lenders wrote this blog for my newsletter. Feel free to contact Craig (info at bottom) for more info. Hope you find this information helpful.

Interest rates are extremely low right now. They are in the high 4's to the low 5's depending on the borrower's qualifications AND the property type. Will they go lower? They might. There is some talk about the Government buying the Mortgage Backed Securities (MBS) and thus being able to reduce the interest rate as low as 4.5%. However, that is not set in stone as of today, and not everyone will qualify.

Mortgage interest rates vary throughout the day. Shopping for the best rate is almost impossible on your own. Mortgage interest rates are based on the MBS; not the 10-year Treasury note as commonly believed. Often interest rates are advertised with "points" which is a cost to the borrower (sometimes the seller) to buy down the interest rate.

There are several variables that go into determining an interest rate. The following are just a few:

What is the property type? (Single Family Residence, Condo, Condotel, Land, etc.)
How much money down?
What is the occupancy? (Primary Residence, Second Home, Investment)
What is your credit score?
How many mortgages do you currently have?
What is your current income?

The biggest change in the last several months is that most borrowers need to provide income and asset documentation (paystubs, tax returns, bank statements, etc). Mortgage insurance is also becoming a necessity for some people with less than 20% equity.

A good rule of thumb for calculating rates for investment properties is usually 1-2% higher than the national average on a primary residence or a second home.

There is still money to loan for qualified borrowers'. The programs include:

100% financing
Government - FHA and VA
Construction
Vacant Land
Foreign Nationals
Condotel

In summary, find a mortgage broker you trust that has the ability to shop on your behalf. A mortgage broker who has access to numerous lenders both local and national (often over 100 lenders) has the ability to take your individual scenario and locate a lender whose guidelines are applicable as well as assuring you get the best rate.

Written by: Craig Haueisen of Windsor Capital Mortgage Corporation

Feel free to contact Craig directly - 808.298.7549 or email him @ craig@focusmaui.com.

Maui Real Estate in Kula, HI

Gail Swanson (Maui Earth Realty) — Wed, 24 Dec 2008 15:25:16 -0800

If you are looking for property in Kula, HI don't forget to check out a beautiful neighborhood called KULAMANU and also the charming neighborhood called called KULA KAI. Most homes have gorgeous ocean views, and the elevation provides a nice cool climate during the hot summer months. Many homes have fireplaces (yes fireplaces on Maui!) and they are perfect for the cooler nights in winter. Upcountry Maui is peaceful, and is far from the hustle bustle of the hotel/tourist scene. Check out these 2 Kula listings if you are looking for exceptional homes. The one in Kula Kai is a fabulous remodel and backs up to pastureland that is magical from the back deck. The front of the house faces an excellent ocean view. The house in Kulamanu is almost brand new and feels like a model home.
Click Here to View Listings. Please feel free to contact me about any Kula Properties.

Lets exchange website links and help each other!

Gail Swanson (Maui Earth Realty) — Thu, 30 Oct 2008 00:29:35 -0700

Aloha!

I am hoping to network with other realtors here on AR and I really appreciate all the great support! I have a very informative Maui Real Estate website and I am looking for reciprocal links with other Real Estate related sites.

If you are interested, please visit my links page.

Thank you!

Gail Swanson, Realtor (S)
Keller Williams Realty Maui
www.MauiFromTheHeart.com

I took the EcoBroker course and it was really helpful!

Gail Swanson (Maui Earth Realty) — Wed, 29 Oct 2008 20:38:31 -0700

In the pursuit of living and working a life more green, I enrolled in the EcoBroker® course and really enjoyed it. Its a home study format so you can learn at your own pace. They have wonderful resources and I am finding them very helpful in my real estate business and my personal life.

Maui Real Estate Sales Statistics Sept. 2008

Gail Swanson (Maui Earth Realty) — Wed, 29 Oct 2008 16:23:57 -0700

Aloha!

In the changing economy, it is crucial to review the Maui real estate sales statitics regularly. I will be posting the monthly statistics on this blog so please visit this site often for updates!

CLICK FOR SEPTEMBER MAUI REAL ESTATE STATISTICS

Please feel free to contact me for more information and to visit my website to view all Maui Real Estate listings.