Loan Programs
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Our Mission
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| Helping Hawaii residents obtain their dream in Home Ownership. |
Conforming Loans
Conforming Loans are those that meet Fannie Mae and or Freddie
Mac underwriting requirements. In other words, income, credit, and
property requirements must meet nationally standardized guidelines.
Conforming loans are subject to loan amount limits that are set by
Fannie Mae (FNMA) and Freddie Mac (FHLMC). These limits vary
based on the region in which the subject property is located as well
as the number of legal units contained in the subject property.
Conforming Loans are those that meet Fannie Mae and or Freddie
Mac underwriting requirements. In other words, income, credit, and
property requirements must meet nationally standardized guidelines.
Conforming loans are subject to loan amount limits that are set by
Fannie Mae (FNMA) and Freddie Mac (FHLMC). These limits vary
based on the region in which the subject property is located as well
as the number of legal units contained in the subject property.
Jumbo Loans
Jumbo loans are those that exceed the loan amounts allowed by
FNMA and FHLMC.
Jumbo loans are those that exceed the loan amounts allowed by
FNMA and FHLMC.
Reverse Mortgage
Senior homeowners (62 years or older), that allows them to convert
the equity accumulated in their primary residence into tax-free A
Reverse Mortgage is a special type of mortgage loan available to
income without having to sell the home, give up title to the home, or
to take on a new monthly mortgage payment.
These mortgage loans are called Reverse Mortgages because the
payment structure is “reversed” in comparison to regular mortgage
loans. Instead of making monthly payments to the lender, the lender
makes payments to the senior borrower. No payments are due on a
reverse mortgage until the borrower(s) cease to occupy the home as
a principal residence (when the last remaining spouse passes away,
sells the home or permanently moves out). The amount owed can
never exceed the value of the home. If the home is sold for less
than the amount owed on the loan, the lender cannot collect on the
shortage amount. If however, the home is sold and the sales
proceeds exceed the amount that is owed, the excess money from
the sale goes to the borrower(s)’ estate.
The funds from a reverse mortgage can be used for any purpose;
paying off existing loans, home repair or renovation, daily living
expenses, health care expenses, taking a vacation, paying property
taxes, etc.
The maximum loan amount is computed based on 3 factors: (1) the
age of the borrower(s), (2) the property value, and (3) current
interest rates. In general, the older the borrower, the higher the
value of the home, and the less owed on the home, the more money
available to the borrower.
Senior homeowners (62 years or older), that allows them to convert
the equity accumulated in their primary residence into tax-free A
Reverse Mortgage is a special type of mortgage loan available to
income without having to sell the home, give up title to the home, or
to take on a new monthly mortgage payment.
These mortgage loans are called Reverse Mortgages because the
payment structure is “reversed” in comparison to regular mortgage
loans. Instead of making monthly payments to the lender, the lender
makes payments to the senior borrower. No payments are due on a
reverse mortgage until the borrower(s) cease to occupy the home as
a principal residence (when the last remaining spouse passes away,
sells the home or permanently moves out). The amount owed can
never exceed the value of the home. If the home is sold for less
than the amount owed on the loan, the lender cannot collect on the
shortage amount. If however, the home is sold and the sales
proceeds exceed the amount that is owed, the excess money from
the sale goes to the borrower(s)’ estate.
The funds from a reverse mortgage can be used for any purpose;
paying off existing loans, home repair or renovation, daily living
expenses, health care expenses, taking a vacation, paying property
taxes, etc.
The maximum loan amount is computed based on 3 factors: (1) the
age of the borrower(s), (2) the property value, and (3) current
interest rates. In general, the older the borrower, the higher the
value of the home, and the less owed on the home, the more money
available to the borrower.
FHA Mortgages @ AFR
| Hawaii Loan Limits |
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HOW TO FIND & BUY YOUR FIRST HOME
So you want to buy a home. Congratulations! This decision
is an important step towards a rewarding and exciting
milestone in your life. You may soon i nd that every
homeowner you meet tells you about the joys of having a
place of your very own. And you’re never too young to own.
Figures from the National Association of Realtors show that
the average age of first-time buyers is 32 years.
Homeownership is not always easy, but most people will
agree that the rewards far outweigh the challenges. The
first challenge, of course, is to learn all the steps to buying
a home! This guide will provide helpful tips and information
you need to understand the process and get started on
your path to homeownership
is an important step towards a rewarding and exciting
milestone in your life. You may soon i nd that every
homeowner you meet tells you about the joys of having a
place of your very own. And you’re never too young to own.
Figures from the National Association of Realtors show that
the average age of first-time buyers is 32 years.
Homeownership is not always easy, but most people will
agree that the rewards far outweigh the challenges. The
first challenge, of course, is to learn all the steps to buying
a home! This guide will provide helpful tips and information
you need to understand the process and get started on
your path to homeownership
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| Contact webmaster Graham Mortgage, Inc., NMLS # 376232 1144 Young St., Honolulu, HI 96814 Ph: (808) 593-1991 |