Page 5 - MidWeek - July 14, 2021

July 14, 2021 MIDWEEK 5
Four Things to Consider Before Buying A Home
by Victor Brock
Hawaii State FCU, Senior Vice President Consumer and Mortgage Lending
Buying a home in Hawaii is a big investment. It involves a lot of time, research, and most importantly, finances. Making sure that you and your family are prepared
for a significant commitment such as this involves considering all of the potential impacts a large purchase can make in your life, not only financially, but emotionally as well. Here are four important things you can do to prepare before buying a home.
1) Have the right people in your corner.
It’s essential to have a great realtor, but also make sure you have a Mortgage Loan Originator that you trust who can help you step by step through the mortgage loan process from application to closing.
2) Know what you can afford.
Avoid disappointment and unrealistic expectations by finding out what you qualify for before you start shopping. Figuring out how much you can afford while still living within your means is key.
3) Prepare yourself emotionally.
Buying a home, like any major life event, comes with emotional highs and lows. You’re not alone – a lot of people experience this as they go through the homebuying process. Stay positive, remain flexible,
and be willing to compromise.
4) Start saving NOW.
There are a lot of costs that go into buying a home outside of the actual purchase price. Build up savings early so you’re better prepared for when you become
a homeowner.
Hawaii State FCU offers a number of home financing and refinancing options to
meet your unique needs. From first-time homebuyers, to veterans and seasoned buyers, our experienced team of mortgage loan officers can help. For more information, make an appointment online at www.HawaiiStateFCU.com.
Hawaii State FCU is your choice for Mortgage Loans
Contact one of our MLO’s or visit www.HawaiiStateFCU.com/mortgage-loan
Ed Ganitano
(808) 426-4430 NMLS# 1690710
Amalia “Amy” Marcos
(808) 792-4027 NMLS# 457465
Wendy Kurosawa
(808) 722-1423 NMLS# 272836
Francine Maldonado- Fernandez (808) 270-6902 NMLS# 312252
Erin Adaniya Palmer
(808) 397-8415 NMLS# 377720
Lance Doiguchi
(808) 295-0874 NMLS# 272696
Angela Ah-Loo
(808) 439-1032 NMLS# 457469
Cynthia Machida
(808) 426-7308 NMLS# 1468404
Jerrilyn Nirei
(808) 447-7078 NMLS# 318096
Elaine Conroy
(808) 223-7854 NMLS# 350572
Gail T. Keao
(808) 792-4058 NMLS# 388331
*Appraisal credit details: Free appraisal offer is for 1- unit primary residences only and only allowed when the automated-underwriting system (Desktop Underwriter or Loan Product Advisor) does not allow for use of the appraisal waiver. HSFCU will only order an appraisal when needed, and will exercise the appraisal waiver in all cases when eligible. For multi-unit, investment properties and 2nd homes, a $500 promotional credit will be applied towards the cost of the appraisal. Non-standard fees for expedited appraisals not included and must be separately paid.
Closing Cost & prepaid fee credit details: The $1,500 credit may be applied to loan closing costs (including points), settlement agent costs, recording fees, notary fees, loan-related legal fees, title insurance fees, and for certain pre-paid insurance and property taxes collected to establish an escrow impound account. Credit may not be applied to pre-pay insurance and property taxes when an escrow impound account will not be established with HSFCU, nor to pre-pay leasehold lease payments, homeowners association maintenance fees, or planned-unit development fees. For purchase transactions, seller credits, if any, must be applied toward closing costs and prepaids before the $1500 promotional credit may be applied toward the loan transaction costs. Any amount in excess of actual closing costs and prepaids will not be refunded or credited. The $1500 credit will only be applied toward closing costs and prepaids on funded loans.
Required upfront application deposit: A $1000 application deposit is required for 1-unit primary residence and second home transactions and a $1500 deposit is required on multi-unit (2-4 units) and investment property transactions. HSFCU will continue to require collection of this up-front application deposit to process the loan. In the event of withdrawn, cancelled or denied applications, the appraisal cost will not be waived and the $1500 promotional credit will not be applied. Applicants will be responsible for all expenditures incurred by the credit union. After the application deposit has been applied toward these expenses, any excess will be refunded to the applicant.
Eligible transactions: Purchase or Refinance applications that are received between July 1, 2021 and on or before August 31, 2021 are eligible. Loans must fund and record no later than December 31, 2021. Offer may be cancelled prior to August 31, 2021 by HSFCU at any time without advance warning. HSFCU Membership is required. All borrowers must be Hawaii residents. This offer is good for in-house Conventional loans only. VA loans are ineligible for this offer. Offer may not be combined with discounts offered under the HSFCU employee loan program.
Hawaii State FCU NLMS# 405316
FREE APPRAISAL and $1,500 credit towards your closing cost