Refinance your Hawaii loan now that the time is right
By Wendy Croix
The Honolulu and Hawaiian island real estate market is so hot that benefiting from refinancing depends on how much equity the owner has in the home.
Refinancing is a great idea for owners who are three or four years into their mortgages, and whose credit has significantly improved since their home purchase. Refinancing is also a good idea for older owners who want to tap their equity for home renovations or lifestyle enhancement.
Local Hawaii and Honolulu Loan Home Refinance Markets
Many mortgage companies in the state deal only with Washington state residents and customers, so they've got the statewide refinance options down cold. Because the market's so volatile, refinancing can be both tempting and tricky.
Because real estate prices are sky high, the rule of thumb about knocking 2% off your interest rate ceases to be a good guideline. Homeowners need to shop around; the Hawaii loan refinance market rates are so competitive that choosy owners stand to gain big dollars.
Source: Realtor.com <www.realtor.com>