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1.
Vivinavi Hawaii
Banks where it is easy to get a mortgage loan(1kview/9res)
Housing 2025/01/27 17:35
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Vivinavi Hawaii
Rents are going up - where to buy a condo ? ?(2kview/9res)
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Topic

Vivinavi Hawaii
Banks where it is easy to get a mortgage loan

Housing
#1
  • さつき
  • mail
  • 2025/01/21 18:54

I am a single mother and have been working full time for about a year.
I am looking to purchase a $2 million condo with an annual income of about $40,000.
Which bank would be the easiest to get a mortgage loan for this situation ?
Has anyone gotten a loan in a similar situation ?
Any other information would be appreciated.
Thank you very much.

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

#6

You will need to provide documentation of your income and taxes paid for the past two years for loan approval, but you should consult with the loan officer at the bank where you have your account ?

Affordable Condo ( Income Restricted ) Condos are also subject to loan You may want to consult with your banker.

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

#7
  • ocean
  • 2025/01/22 (Wed) 18:37
  • Report

Satsuki-san

Before you decide on a bank, you need to decide on a property, and the bank recommended by the real estate is easy to get through.
If it is an Affordable property, there are several banks that we work with.

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

#8
  • さつき
  • 2025/01/23 (Thu) 13:11
  • Report

Thanks for the info.
I made a mistake with the $200,000 not the $2 mil, I'm not sure if even $200,000 will get me through the screening process, but $2 mil is
outrageous. ( lol )
If there is a loco bank that is easier to get approved, I was thinking of switching my account to them first, but it is more
realistic to talk to the loan officer on my account or look for Affordable properties and see if they go through from a bank they are affiliated with. So it would be more realistic
to do that. I will try !
Thank you.

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

#9

It is no different for any bank to say which Mortgage Loans are easier to get through. I think you should ask the loan officer at the bank for a Pre-Approved consultation, and they will tell you how much you can borrow with your current income. If the property is a condo with a leasehold ? of $200,000, then you will have to pay the mortgage loan, leasehold, and maintenance fees. I think the combined amount of the mortgage loan, leasehold, and maintenance fees must be less than 40% of your monthly income.

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

#10

Hawaii's real estate market is unique and mainland banks are unlikely to mortgage a property in Hawaii. On the other hand, it is rare for Hawaii banks to provide financing for mainland properties. Therefore, it is likely that you will get a loan from a Hawaii bank. The interest rate, points, and loan approval will depend more on the banker than on which bank is easier to obtain a loan from. First Hawaiian and Bank of Hawaii are the top two major banks in Hawaii, followed by CPB and American Saving, which are the four major banks in Hawaii, Hawaii National, Hawaii State, and Hawaiian Financial. Hawaii National, Hawaii State, and Hawaiian Financial.

In Japan, the standard is five times your annual income, but in the U.S., the standard is three times or 30% of your income. A $200,000 property with an annual income of $40,000 may be a bit difficult. The best way to get a mortgage is to increase the down payment, but with the current level of interest rates, I would think that the purchase itself would be a consideration. Also, insurance premiums have gone up dramatically due to last year's natural disasters, and with the LA wildfires coming up, I think you should expect a spike in expenses other than mortgage repayment.

Affordable properties can be bought for considerably less than the value of the property. Also, PreApproval is easy to obtain, so if you take PreApproval with an estimated price that matches your purchase budget, you will have an easier time getting an offer on your purchase.

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

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