The Honolulu Board of REALTORS® will be closed Monday, March 26 in observance of Prince Kuhio Day.


Not all Buyers have the 20% down payment or VA entitlement that will help them avoid private mortgage insurance (MI). The monthly payment for MI can really be a disappointment for the budget conscious Homebuyer.

One option that is often overlooked, and not offered by all lenders, is financed MI. This option allows the buyer to convert the MI to a set dollar amount that is then added to the loan. The resulting payment is much lower. This also will enable the buyer to qualify for a higher sales price.

Central Pacific Bank offers financed MI as an option and always looks for the best possible financing plan for, and the best rate, for your buyer.

—Central Pacific Bank, Equal Housing Lender

Not all properties and not all homebuyers fit “into the box” that defines the normal mortgage underwriting rules. Most lenders all dip from the same well and rely on the conventional, VA, FHA guidelines to determine whether a loan can be approved or not.

Central Pacific Bank has a number of loan programs that can accommodate these “out of the box” situations. We have the ability to close loans for non-warrantable condos, condo-tels, construction loans, and that odd property that just does not fit in the box.

In addition, we have a number of programs for the buyer who does not fit the standard profile. These include loans for foreign nationals, medical professionals through our “White Coat” promotion, or self -employed and high net worth individuals.

Be sure to give us a call if you have a situation that is “out of the box!”

Complete your mandatory Code of Ethics training for Cycle 5 by June 30, 2018 for a chance to receive various monthly rewards! 

View our flyer for complete promotion details.  |  Watch our video clip from HBR President Darryl Macha.

Congrats to our monthly drawing winners:

December Cynthia Manabe
January Arlene Kim-Kawamoto
February  Leslie Lewis
 March  To be announced in April
 April  To be announced in May
 May  To be announced in June
 June  To be announced in July

Whenever the rate markets make a sudden move this is the first question that pops up. While no one can predict rates into the future, the general rule is to go ahead and lock in if you can. If you are in escrow or have a loan in process it should be closing within the next 30-45 days. You will need to set the rate anyway so… save yourself some anxiety by locking it in! 

If you are buying a new construction property that will close farther into the future, be sure to get your loan application in right away. Central Pacific Bank has some great extended lock programs for these homebuyers!

Mortgage Trivia

With rates moving around a little the past month we moved from the “high 3s” to the “mid 4s” for a 30-year fixed rate mortgage. Let’s take a look back at where rates were during the month of March.* 

10 Years Ago – March 2008 – 5.97%

20 Years Ago – March 1998 – 7.13%

30 Years Ago – March 1988 – 9.93%


*Courtesy of FreddieMac

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