Kona Kohala Blog

Can you believe interest rates are actually holding at under 5% right now.  Buying property is really an investment, where else can you find rates like this?  Many people today are getting more than 5% on investments so it makes sense to carry a mortgage rather than paying cash in this market.

Bank of Hawaii is offering a 15 year fixed rate mortgage for 4.00% interest with 2.625 points, a point being one percent of the loan.  The 30 year fixed rate was at 4.5% for the same points.  Even the Jumbo loans were at 5.25% which is a good deal for any home buyer.  I remember buying my house in 1993 and thinking what a great rate 6.75% was.  This is a great time to buy real estate if you're moving up, down or just want a new home.  There's a fairly large inventory of properties available to choose from and it is a buyer's market.

For more information on financing you can go to my web site and get some information and the names of different lenders with whom I've worked and had good results.  Please keep in mind that this is not a guarantee of service but I do know they've done well with clients in the past.  You can get there by clicking here or go to www.FerrariPacificRealty.com and check out the entire site.