The Home Buyer's Korner

Information presented should be used for educational purposes only.

June 11th, 2015

Guy looking up in color

GREATER WAIANAE/MAKAHA HAWAII

The Home Buyer’s Korner

Google+ RE Community

Google+ Mortgage Lender Community

Google+ General Contractor Communities

Buying A Home With FHA Financing

Buying a homeFHA has insured over 34 Million Homes since 1934, when the program was created. Compared to conventional mortgages that have tighter underwriting guidelines, FHA-insured loans appeal to a wider range of home buyers by offering easier credit standards, lower down payment requirements and more flexible income calculations.

FHA purchase guidelines allow a Loan-to-Value (LTV) percentage of up to 96.5 percent on all qualified property types, including FHA Home Renovation Loan program called the FHA 203K up to $721,050 on Oahu. Qualifying property types include single family homes, town homes, condominiums, multi-unit properties (up to four units), and manufactured or modular homes. Most conventional mortgages will only allow a Loan-to-Value (LTV) percentage of up to 90% for condominiums and only 95% LTV ratio for single family homes, although FNMA has recently created the 97 percent “My Community Mortgage”, but being that it’s a conventional loan you’ll have to meet strict credit and income requirement, as well as be a first time home buyer.

The purpose of FHA loans is to provide an affordable alternative to conventional loans for all home buyers who qualify, an no there are no income limits and you don’t have to be a first time home buyer. The Federal Housing Authority (FHA) does not actually make the loans, instead it insure the mortgages that a traditional lender or bank would make to home buyers. FHA offers some attractive features like:

  1. No prepayment penalties on your loan;
  2. Can streamline refinance for a lower rate without re-verification of income or a new appraisal; but you will need a FICO score of at least 620 for most lenders and have no more than one late payment (30 days or greater) in the past 12 months at time of closing your new home loan;
  3. Flexible Credit Requirements
  4. Competitive rates and lower fees
  5. Higher approval rates
  6. Low Down Payment

Basically, the FHA helps more home buyer afford to buy homes with low down payment and credit qualifying by insuring the lender against loss should you become unable to continue making mortgage payments.

FHA Back to Work

Recently FHA has released new guidelines on their “FHA Back to Work” program, which is intended to help would be home buyers to qualify for a new mortgage after a short sale, bankruptcy and even foreclosure in as little as 12 months, provided the extenuating circumstance can be tied to a proven decline in employment. This is a great program to help the many homeowners who were impacted by the economy and fell on difficult times through no fault of their own. If this happens to be you, be sure to find out more about the “FHA Back to Work” program by speaking with one of our community members.

VISIT OUR GREATER WAIANAE/MAKAHA AREA

HOMES FOR SALE LISTINGS

Livingston Homes for Sale

FIND HOMES THROUGHOUT WAIANAE/MAKAHA HAWAII

HUD FORECLOSED HOMES IN & AROUND THE GREATER WAIANAE/MAKAHA HI

USDA FORECLOSED HOMES IN & AROUND THE GREATER WAIANAE/MAKAHA HI

FNMA HOMEPATH FORECLOSED HOMES IN & AROUND WAIANAE/MAKAHA HI

FIND MORE FORECLOSURES IN & AROUND WAIANAE/MAKAHA HI

HAWAII HOME OWNERSHIP TOOLS

Your Home Purchasing or Refinancing & Renovation Tools,

Home Improvements, Home Renovations,

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase.

Here are just a few of the home improvements

you might consider with any Home Renovation loan

Repair or replace a roof

Install, replace or repair gutters and downspouts

Replace, repair or upgrade your HVAC system

Repair or replace plumbing

Install, repair or replace electrical systems

Kitchen remodeling (including the purchase and installation of appliances)

Bathroom remodeling, Full interior painting, Total exterior painting

Repair or replace a septic system and/or well

Disability access (wheelchair ramp, elevator, widen doorways)

Build, repair or replace deck, patio or porch

Basement waterproofing and finishing

Abatement/Stabilization of lead-based paint hazards

Replace old windows, Room additions, Finish an attic

Add a second story to your home

Replace a termite damaged sill plate (a water-damaged sill plate also)

Possible landscaping items such as correction of grading & drainage problems,

tree removal, repair a driveway and sidewalks

FHA 203K

Your Home Purchasing or Refinancing & Renovation Tool

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

FANNIE MAE HOMESTYLE

The Conventional Alternative to FHA 203K

Great for Real Estate Investors and Second Home Renovations

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

USDA RURAL DEVELOPMENT

Up to $10K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors are ready to assist you

A SIMPLE HOME SHOPPING INSPECTION TOOL

Organizing your home shopping experience affords a wise decision-making process.

This simple home inspection tool makes your ultimate buying decision a smart one.

To print this document click on “Open in New Window” located at the lower right corner;

click on “File”; then click on “Print”. In the center of the screen you will

have the option to “Create A Printable PDF of the Presentation”.

START YOUR PATH TO HOME OWNERSHIP TODAY

FNMA HomeStyle FNMA My Community Mortgage FHA One-Time Close Construction Portfolio or VA home loan Homes for Sale REO Short Sales FNMA HomePath Properties HUD Homes USDA Homes Condominiums Co-Ops Townhomes Manufactured Homes Modular Homes Mobile Homes Log Homes Second Homes Investment Property 2-4 Family Custom Home Builders Custom Built Homes Luxury Homes General Contractors Home Improvement Experts Kitchen & Bathroom Renovations Real Estate Brokers & Agents Mortgage Lenders Federal Credit Unions Community Bankers Jumbo Investor Hard Money HARP HECM Equity Zero 3% 3.5% Portfolio Non-Warrantable Down Payment Assistance Real Estate Listings 96792 Waianae Kaamooloa Maili Makaha Makaha Valley Waianae Waianae Nanakuli Nenelea Palehua Ranch Camp Waianae Village Manuku St Manuku St A Manuliilii Pl Manununu St Manuoioi Pl Manuu St Manuulaula St Kamaileunu St MAALOA ST Kimo St Kanahale Rd Gilipake St Kanapua Pl Haama Pl Hookele Pl Hookele St Kolealiilii St Midway St Ulei Loop HOOKUIKAHI ST Kaneaki St  Hookuikahi St Kaneilio Pl Kaneilio St Pohakea Pl Piliuka Way Kaipo I St Pohakunui Ave Pohakupalena St Upena St Hoolokahi St Farrington Hwy Hoomaluhia St Mikana St Anaha St Wehiwehi St Huikala Pl Papaya Rd Kapaekahi St Kapakai Pl Princess Kahanu Ave Kuaha St Kapiki Rd IMIPONO ST Kulaaupuni St Farrington Hwy Lualualei Homestead Rd Naakawelola st Pakeke St Nakii St Wehiwehi St Makaha Surfside Mokila Pl Ualakahiki Pl Ualamaoli Pl WAIANAE VALLEY RD POKAI BAY ST Pokaihene Pl Pokaiikena Way Pokaikuahiwi Pl Laanui St Laaunoni Pl PAAKEA Paakea Rd Ehu St Ulehawa Rd Ulei Loop Water St Helelua Street Kahe Kai Mokila St OLD GOVERNMENT RD Old Government Rd Maiola St Maipalaoa Rd Maipalaoa Rd Maipela St Kulaaupuni St PLANTATION Lualei Pl LUALUALEI HMSTD LUALUALEI HMSTD RD Lualualei Homestead Rd Lualualei Homestead Rd Maiuu Rd Milikami St Nukea Pl Nukea St Farrington Hwy Kohai Pl ST JOHNS RD Hakalina Rd Hakeakea St HAKIMO Hakimo Pl Hakimo Rd Halapoe Pl Plantation Rd Maipalaoa Rd MAKAHA VALLEY MAKAHA VALLEY RD MAKAHA VALLEY RD Liopolo St Hale Ekahi Dr Hale Elua St MAKAU ST MAKAU ST Konini St Koolina St HALEAHI RD HALEAKALA AVE Makona St Halemaluhia Pl Helelua St Ponahakeone Pl Widemann St Ala Mahiku Dr Kauaopuu St Kauaopuu St Lihue St Leihoku St Leihua Pl Leihua St Farrington Highway Farrington Hwy KAUKAI Kaukai Rd Kaukama Rd Kaukamana Rd Kaukamana St Kaulaili Rd Leileho Pl KAULAWAHA KAULAWAHA RD Naakawelola St Naakawelota St Leipupu Pl AUYONG HMSTD RD Auyong Homestead Rd Waapuhi St KAUPUNI PL KAUPUNI ST Kauwahi Ave Ahekai St LAWAIA ST HALIKE PL Maliona St Kawao Ave Kawili Pl Kawili St Pokaihene Place Saint Johns Rd Lahilahi St Kepauala Pl Kepauala St Pahano Loop Paheehee Pl Paheehee Rd KEPUE PL Kepue St Kepue St Laia St Anaha St ALAHELE ST AONE PL Liliana St Nanaikala Pl Nanaikala St Nanakuli Ave Meaulu Rd ALAHELE ST Mill St ST JOHNS RD HOMESTEAD RD Kam Hwy Farrington Hwy FARRINGTON HWY LAHAINA ST FARRINGTON HWY Helelua St ALA HEMA ST FARRINGTON HWY MAKONA PUA LN ST JOHNS RD ST JOHNS RD Farrington Hwy KAWILI RD FARRINGTON AVE Pikaiolena St Pokaiikena Way Maiola Pl Heleuma St Anaha St Lahaina St Leihoku St LAHAINA ST MAHINAAU RD Analipo Pl ANALIPO ST Nenewai St Lahikiola Pl Lahilahi Pl Lahilahi St Mahiaina St PAKEKE ST Pakeke St Iniki Pl Apana Rd Laiku Pl Laiku St Mamoalii Pl MAUNAOLU ST Maunaolu St Naniahiahi Pl Naniahiahi St Lahilahi St Keaulana Ave Palakamana St HALONA Halona Rd Palani St Mokila St Holopono St Kowehe St Limakokua Pl Ala Mahiku St KULAAUPUNI KULAAUPUNI ST Kulahanai Pl Kulahanai St Kulahelela Pl Kulakoa Pl Kulakoa St Kulakumu Pl Kulala Pl Kulapa Pl NIHAU ST Pakeke St Kulawae Pl Niihau St Kulawae St Pilikana Way Pililaau Ave Holomalia Pl Holomalia St PILIOKAHI AVE PILIOKAHI AVE PILIUKA Holopono Pl Piliuka Pl Holopono St Piliuka Way Moua St Fricke St Kumaipo St Akowai Rd PALIKEA PL Palikea St Pilokea St Mamoalii Pl Mamoalii Way Holt St ALA AKAU ST Ala Walau St Mana St ALAHELE ST Ala Hema St Manaiakalani Pl WAI ANAE VALLEY RD Kuualoha Rd Ala Mahiku St KUWALE Kuwale Pl Kuwale Rd ALA NAAUAO PL Waianae Valley Rd WAIANAE VLY ALA POKO ST ALA WALUA ST Waiea Pl KILI DR Muolo St Kipahele Pl Kipahulu Pl Kipaipai Pl Kipalale Pl Kipaoa Pl Kipapani Pl Upena St Linakola St ARMY ST Lopikane St MOAELEHUA ST ARMY ST Anaha St Waiolu Pl Waiolu St Alahele St Moauli St Makau St Guard St Alamihi Pl Alamihi St Keliikipi St Farrington Highway Pkg Pua Ave Pua Ave Ala Mahiku St Puakolu St Pualeilani St KAHAU ST Ohemauka Pl KAHAU ST Kulaaupuni Street Oheohe St Puawiliwili Pl Alohiki St D Saint Johns Rd Kiana Pl Kiapa Pl Bayview St Alapaki St Helelua St Upena St Alawa Pl Lepeka Ave Ohiohi Pl Wehiwehi St Kuaha St Polikua Pl Hakimo Rd Mahinaau Rd Opuhe St Hana St Puhano St Puhawai Rd Puhinalo Pl Pukui Pl Pula Way Pulapula Pl KIHONUA PL Farrington Hwy Hila St HOAHA PL HOAHA ST Moeha St Moehahi St Helekula Pl Helekula Way Helelua Pl HELELUA ST Moekaa Pl Moekahi St Moekolu St Moelima Pl Moelima St Moelua St Okohola St Okokomo St GLENMONGER ST Maia St Maiaiholena Pl Maiapolua Pl FARRINGTON Farrington Hwy FARRINGTON AVE Widemann St Farrington Hwy LAHAINA ST 688 Ala Mahiku St Popohau Pl KILI DR Huamoa St Mailiilii Rd Punanaula St Heleuma St MANO AVE ORANGE ST Polikua St Farrington Hwy ALTA ST Wikolia Pl Farrington Hwy Mohihi Pl Mohihi St Kilouhane Pl Lokomaikai Pl Makau St Ala Mahiku St LAHAINA Hana St Kahau St Mokiawe St Pelanaki St Apuupuu Rd Kahiwelola St Lahaina St Kiana Pl Kaiamekala St Noholio Rd Kaihoolulu St Ihuku St Lahaina St Alta St Waianae Valley Rd Farrington Hwy WAIANAE VALLEY RD IKUONE PL Ikuone Pl Kaipoi St Jade St Kohai Pl Owelo Pl Momona Pl Kakaiapola St Kakalena St Laulele St LAUMANIA AVE ILIILI RD ILIMAPAPA PL Glenmonger St HANA ST Hana St Kaleiwohi St Hanalei St Hokuaea Pl Hokuaiaina Pl  Hokukea Pl Hokupaa St Hokuukali Pl Hokuukali St PUUHULU RD Puuhulu Pl Puuhulu Rd McArthur St 105 Kulaaupuni St Manuaihue Pl Manuaihue St Halike Pl Makona St Makona St IMIPONO Imipono Pl Imipono St

Join us at Real Estate Social

Comments are closed.