by Dan Polimino | Aug 26, 2008 | Financing
Quick Answer: The 2008 Housing Rescue Plan effectively ended seller-funded down payment assistance programs as of October 1, 2008, impacting many first-time buyers. For luxury second home buyers on the Kona-Kohala Coast, this change primarily highlighted the need for...
by Dan Polimino | Aug 15, 2008 | Financing
Quick Answer: The recent shifts by Fannie Mae and Freddie Mac to prioritize jumbo loans over mortgage-backed securities will likely lead to increased interest rates for larger loans, directly impacting luxury second homes and vacation rentals on the Kona-Kohala Coast....
by Dan Polimino | Jul 13, 2008 | Financing
Quick Answer: National mortgage regulations, such as those established by the SAFE Act, are designed to standardize licensing and oversight for loan originators. For buyers purchasing a Hawaii second home or vacation rental, this generally means greater transparency...
by Dan Polimino | Jun 28, 2008 | Financing
Quick Answer: While your FICO score is an important indicator, lenders financing luxury vacation rentals on the Kona-Kohala Coast increasingly consider alternative credit data. A strong financial profile, including substantial assets and a clear repayment history, can...
by Dan Polimino | Jun 9, 2008 | Financing
Quick Answer: In today’s luxury real estate market on the Kona-Kohala Coast, home inspections are more important than ever. Sellers may benefit from a pre-listing inspection to identify and address issues early, while buyers should include an inspection contingency to...
by Dan Polimino | May 2, 2008 | Financing
Quick Answer: Bank of America’s 2008 pledge to modify mortgages and increase lending was intended to help stabilize the housing market and improve credit availability. Changes in banking policy can influence mortgage markets, including the availability of jumbo...
