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 2019-2021 6 by September 30, 2021, for a chance to win! 

View our flyer for complete promotion details.

• Check your Code of Ethics status for 2019-2021 (Cycle 6) here. More about the mandatory NAR ethics training requirement here.
• If you're not registered for an ethics course yet, don't delay as this promo is valid through September only!
  • Register for HBR's ethics course Disclosure, Discrimination and Advertising in the Code of Ethics (3 CE free via CE webinar or the new HBR REALTOR® Academy) or take NAR's ethics course from NAR Center for REALTOR® Development (free non-CE version or CE-version for $29.95)
  • If you completed an approved ethics course for 2019-2021 from another CE provider, you must forward your Code of Ethics completion certificate to [email protected]. Once we verify and update your member record, you'll be eligible for our prize drawings.

Congrats to our drawing winners:

Kick-off drawing winner ($100 cash): 

Denise Miyahira, Island Pacific Real Estate  

Weekly drawing winners ($50 e-gift card):

One winner to be drawn per week from June 1 - September 30, 2021

Grand Prize winner ($200 cash):  Reelika Ortega, Century 21 Island Homes

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