Federal Housing Administration Loan Specialists

Since 1934, the Federal Housing Administration (FHA) has been helping people to become homeowners.  The FHA became a part of the Department of Housing and Urban Development's (HUD) Office of Housing in 1965.

When the FHA was created, the housing industry was flat on its back:

• Two million construction workers had lost their jobs.

• Terms were difficult to meet for homebuyers seeking mortgages.

• Mortgage loan terms were limited to 50 percent of the property's market value, with a repayment schedule spread over three to five years and ending with a balloon payment.

• America was primarily a nation of renters. Only four in 10 households owned homes.

During the 1940s, FHA programs helped finance military housing and homes for returning veterans and their families after the war.

In the 1950s, 1960s and 1970s, the FHA helped to spark the production of millions of units of privately-owned apartments for elderly, handicapped and lower income Americans. When soaring inflation and energy costs threatened the survival of thousands of private apartment buildings in the 1970s, FHA's emergency financing kept cash-strapped properties afloat.

The FHA moved into steady falling home prices and made it possible for potential homebuyers to get the financing they needed when recession prompted private mortgage insurers to pull out of oil producing states in the 1980s.

By 2001, the nation's homeownership rate had soared to an all time high of 68.1 percent as of the third quarter that year.

The FHA and HUD have insured over 34 million home mortgages and 47,205 multifamily project mortgages since 1934. FHA currently has 4.8 million insured single family mortgages and 13,000 insured multifamily projects in its portfolio.

In the more than 60 years since the FHA was created, much has changed and Americans are now arguably the best housed people in the world. HUD has helped greatly with that success.

OUR PURPOSE 
HawaiiGovernmentHomeLoans.com believes in the principles, values, and benefits of the American Dream of Homeownership.  Our purpose is to educate individuals regarding their options and assist them through the loan process.  

PURCHASING A HOME?
Deciding to purchase a home is a very important decision to make.  Almost as important as deciding which home to purchase.  We are here to assist you with all the paper work in order to reduce the stress of purchasing your home.  Whether you're a first time home buyer or an experienced buyer, we are knowledgeable and can walk you through the steps of getting an FHA Loan.

REFINANCING A HOME?
If you are looking to refinance, our FHA Loan Specialists are standing by to give you the help you need.  We can help you evaluate your loan terms against current FHA Programs to determine if a refinancing is a good option.  

FREE PRE-QUALIFICATION
Whether you plan to purchase a new home, refinance an existing home loan for a better interest rate, or take cash-out, please contact us today for your FREE Consultation.  We are here to answer any questions you may have and explore solutions to fit your needs.  You may contact an FHA Loan Specialist using our simple online form or directly at 808.358.7067.

Benefits of FHA Loans (Purchase)

• Down Payment as low as 3.5%.

• Easier Qualifications - Don't need to have Perfect Credit

• Traditional Fixed Payments Available

• No Pre-Payment Penalty

• Great for First-Time Homebuyers

• Great for Experienced Homebuyers

• Up to 6% Seller Credit

• FHA Loan Limits for a single unit home are:  $793,750 on Oahu $773,750 on Kauai $790,000 on Maui  $618,750 on Big Island

• Since the FHA loan is insured by a government agency, Lenders and Banks are willing to make loans available to people that otherwise may not have been approved for a loan.

FHA Streamline (Refinance)

• Interest Rate Reduction

• Lower Payments 

• No Appraisal

• No Credit Check

• No income verification   
  

• Skip One Mortgage Payment
  

• Virtually everyone qualifies 
  

• Easily shorten or lengthen the term of existing loan 

• Easily switch amortization from Adjustable to Fixed

• Quick Turn-Around Time

FHA Cash-Out (Refinance)

• Pay Off High Interest Rate Credit Cards

• Consolidate Bills 

• Extra Cash for Home Improvements

• Leverage for Investments
  

• Skip One Mortgage Payment

• Borrow up to 85% of the value of your home  

• Consolidate first and second mortgages into a single loan