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!
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
| Week 1: |
Linda Y. Denault-Almodova, West Oahu Realty
|
| Week 2: |
Kevin CM Lau, Progressive Realty, LLC |
| Week 3: |
Terrence Kawano, Locations LLC |
| Week 4: |
Steven Galbraith, Compass |
| Week 5: |
Linda L. Blomquist, Coldwell Banker Realty |
| Week 6: |
Celia MN Ko, Sun Realty, LLC |
| Week 7: |
Cai Er Ren, Coldwell Banker Realty
|
| Week 8: |
Jaclyn K. Williams, Hawaii Life |
| Week 9: |
June C. Okabe, Real Property Sales & Services |
| Week 10: |
Lou Ann Uyeda, CENTURY 21 Paradise Intl. |
| Week 11: |
Natassja T. Arakaki, Coldwell Banker Realty
|
| Week 12: |
Marissa P. Delaforce, Fogarty Realty, Inc. |
| Week 13: |
Kwailin Sharon Fung, Oahu Realty |
| Week 14: |
Nancy Young-Vieira, Carvill Sotheby’s Intl. Realty |
| Week 15: |
Mai Kakesako, Redfin Corporation |
| Week 16: |
Chandra Garces, Coldwell Banker Realty
|
| Week 17: |
Amy Cheng-Woo, Clifford Woo Realty LLC |
| Week 18: |
Sean S. Takamori, BHGRE Advantage Realty |
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
Do you know veterans or active-duty service members thinking about purchasing a home? If so, please encourage them to join Bank of Hawaii at any of the below VA Home Loan Seminars:
Bank of Hawaii’s VA Home Loan Seminars are free and are designed to acquaint veterans and their families with the many advantages of buying a home with a VA Home Loan. VA Home Loans feature a multitude of financial benefits, and in this free seminar, guests will learn about eligibility, benefits of the program and more.
Seating is limited. For more information call (808) 694-4397. If guests require an accommodation to attend, please call (808) 694-4397 at least seven business days in advance of the seminar.
