In April 2024, Realtor.com® took a stand publicly by calling on the industry to demonstrate the value of buyer agency, with the goal of showcasing the enormous importance of partnering with a buyer’s agent. To support this, we created a Buyer’s Agent Toolkit filled with customizable and impactful content you can co-brand and use to get the word out.

Recent legal changes have shaken up consumers’ perceptions of the crucial role buyer agency plays in making a real estate transaction run smoothly and be successful. Simply put, without a buyer’s agent, consumers are at a very real risk of not achieving their home-buying goals.

Buyers need you. We can’t let misconceptions, skewed perceptions, or fear dominate consumers and impact home buyers’ paths to homeownership — especially underrepresented buyers. Together, we can champion the importance and value of buyer’s agency to educate consumers and help buyers find their dream home.

So, we’re calling on Realtors® like you to join us. Here are three ways you can join the movement: 

1. Download co-branded assets from the updated Buyer’s Agent Toolkit
2. Share these assets across all your channels; and
3. Time your posts around key dates throughout the year to support these buyer communities.

For more information, go to: www.realtor.com/marketing/resources/buyers-agent-campaign/

The spirit of Hawaiʻi thrives on community, yet for many kamaʻāina, the dream of owning a home feels out of reach. The latest ALICE® (Asset Limited, Income Constrained, Employed) Report published by Aloha United Way reveals a concerning trend: from 2018 to 2022, poverty rates in Hawaiʻi surged, with nearly half the population facing financial strain. With the median home price on Oʻahu soaring to $1.1 million, many local families are being priced out of Hawaiʻi.

In the wake of recent tragedies like the Maui fires, which displaced thousands, the urgency for accessible housing solutions has never been more pressing. Shockingly, more Native Hawaiians now reside outside the islands than within—an alarming testament to the housing crisis gripping the state.

Unique First-Time Homebuyer Program
As a community bank supporting Hawaiʻi’s residents, businesses and community for nearly 100 years, American Savings Bank (ASB) is committed to helping solve Hawaiʻi’s affordable housing crisis. ASB’s “This is HOME” program offers first-of-its-kind affordable financing designed to help hardworking kamaaina buy a home in Hawaiʻi, so they can stay in Hawaiʻi.

Program Benefits:

• 3% low down payment
• Expanded area median income range
• Lower monthly payments
• Expanded financing eligibility

Take the first step towards securing your dream home in Hawaiʻi with “This is HOME”, the only first-time homebuyer program in Hawaiʻi to offer these unique benefits and more.

LEARN MORE

Help first-time homebuyers better understand financing closing costs.

Continued from Part 1 

Do all closing costs apply to services offered by the lender?

Closing costs often include 3rd party fees not paid to your lender. For example, an appraiser will be chosen by the lender to visit the property, estimate its value, and comment on the condition of the property. The appraisal report will be reviewed by the lender and help determine how much they will lend. A copy will also be provided to the customer for their review. 

Can I get a breakdown of closing costs before I commit to a loan?

You can get a rough estimate of closing costs by using one of the many closing costs calculators online. An even better idea is to contact First Hawaiian Bank. Like all reputable lenders, we will provide a form called a Loan Estimate that details the closing costs for the mortgage you’re applying for - because you should always understand what you will owe.

How do I pay the closing costs?

Closing costs are the responsibility of the buyer. In a purchase transaction, it can be paid from the buyers’ own funds or a seller credit can cover some or all of the closing cost. In a refinance situation, in addition to paying closing cost out of pocket, the borrower may be able to finance by increasing their loan amount. The latter approach will make your monthly mortgage payments higher but can ease the initial cost of buying a home. 

Where can I find more information about closing costs at First Hawaiian Bank?

Our mortgage loan officers at First Hawaiian Bank are a great source of information about closing costs in Hawaii. There are also several websites that offer state-by-state breakdowns of typical closing costs, such as an easy-to-read chart from Bankrate.com. 

Speak with an expert on the topic and contact one of the knowledgeable loan officers at First Hawaiian Bank today. www.fhb.com/en/personal/mortgage.