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Keeping a Time-Sensitive Investment Moving With the Right Financing Structure News Mortgage Rate Outlook: The New Normal, For Now Uncategorized MortgageWise Newsletter – Summer 2026 Uncategorized Bridge-to-DSCR: A Strategy for Short-Term Rental Investors Uncategorized The Snowball Strategy: Using Cross-Collateralization to Scale Your Real Estate Portfolio Uncategorized When Traditional Financing Fails: How Bridge Loans Rescue Stalled Real Estate Deals Uncategorized What Is ARV in Real Estate? How to Calculate After Repair Value Uncategorized What Is Delayed Financing and How Does It Work? Uncategorized MortgageWise Newsletter – Spring 2026 Uncategorized Mortgage Rate Outlook: Improved Momentum and Opportunity Uncategorized Twenty Twenty-Five email@example.com +1 555 349 1806 ## Blog Posts ### Keeping a Time-Sensitive Investment Moving With the Right Financing Structure URL: https://www.myerscapitalhawaii.com/news/santa-fe-purchase-rehab-bridge-loan-case-study Published: Thu Sep 03 2026 18:08:07 GMT+0000 (Coordinated Universal Time) How Myers Capital Helped a Santa Fe Investor Move Forward We helped a Santa Fe investor move forward with a $1.16 million first-lien purchase-and-rehab bridge loan after a large institutional lender declined the loan at the 11th hour. When Financing Falls Through, We Help Keep the Deal Moving Watch the Video The Financing Challenge Real estate transactions don’t always go according to plan. A real estate investor was under contract to purchase a single-family property in Santa Fe, New Mexico, when the financing unexpectedly fell through. A large institutional lender declined the loan at the 11th hour, putting the acquisition—and the planned renovation—at risk. The borrower needed a dependable financing solution for the investment property and the work required to complete the project. The transaction required a financing structure that could support the property’s current value while providing capital for construction completion. Myers Capital evaluated the opportunity and structured a... ### Mortgage Rate Outlook: The New Normal, For Now URL: https://www.myerscapitalhawaii.com/news/mortgage-rate-outlook-the-new-normal-for-now Published: Thu Jul 23 2026 00:00:00 GMT+0000 (Coordinated Universal Time) After several years of rapid swings, the mortgage market is becoming more predictable. Mortgage rates have generally settled into the low-to-mid 6% range, and the days of dramatic swings appear to be less frequent. Many people believe the Federal Reserve directly sets mortgage rates. In reality, mortgage rates respond much more closely to the bond market — especially the yield on the 10-year U.S. Treasury, which recently climbed back into the mid-4% range. When investors worry that inflation may remain elevated or that geopolitical events could push energy prices higher, they demand higher returns on Treasury bonds. Mortgage rates typically move in the same direction. That’s exactly what we’ve seen over the past several weeks. Renewed conflict in the Middle East, higher oil prices, and inflation that remains above the Federal Reserve’s long-term target have reinforced expectations that borrowing costs may stay elevated for a while. Although the Fed has kept shor... ### MortgageWise Newsletter – Summer 2026 URL: https://www.myerscapitalhawaii.com/news/mortgagewise-newsletter-summer-2026 Published: Wed Jul 22 2026 00:00:00 GMT+0000 (Coordinated Universal Time) MortgageWise Newsletter – Summer 2026 Get the latest mortgage industry news. CLICK HERE . -Economy & Mortgages: Mortgage Rate Outlook: The New Normal, For Now -It’s More Than a Roof Over Your Head -Love Your Home Again… Without Moving -Gotta Move? Consider This Before Selling -When it’s Time to Walk Away from a Great Mortgage Mortgage Rate Outlook: The New Normal, For Now After several years of rapid swings, the mortgage market is becoming more predictable. Mortgage rates have generally settled into the low-to-mid 6% range, and the days of dramatic swings appear to be less frequent. Many people believe the Federal Reserve directly sets mortgage rates. In reality, mortgage rates respond much more closely to the bond market — especially the yield on the 10-year U.S. Treasury, which recently climbed back into the mid-4% range. When investors worry that inflation may remain elevated or that geopolitical events could push energy prices higher, they demand higher return... ### Bridge-to-DSCR: A Strategy for Short-Term Rental Investors URL: https://www.myerscapitalhawaii.com/news/bridge-to-dscr-financing-a-proven-strategy-for-short-term-rental-investors Published: Wed Jul 08 2026 00:00:00 GMT+0000 (Coordinated Universal Time) Hawaii is one of the most sought-after short-term rental markets in the world. With year-round demand from leisure travelers, a limited housing supply, and some of the highest nightly rental rates in the country, a well-positioned vacation rental in Hawaii can generate exceptional returns. For real estate investors, the appeal is clear. However, the path to ownership is rarely straightforward. Conventional lenders — banks, credit unions, and agency mortgage programs — are largely unable or unwilling to finance short-term rentals and condotels. The properties that make the best vacation rentals are often the same ones that fall outside the narrow parameters of traditional underwriting. The result is a financing gap that leaves many investors unable to act on compelling opportunities, even when the numbers make sense. The bridge-to-DSCR pipeline is a two-stage financing strategy that closes this gap. It begins with a short-term bridge loan to acquire and stabilize the property, and ends ... ### The Snowball Strategy: Using Cross-Collateralization to Scale Your Real Estate Portfolio URL: https://www.myerscapitalhawaii.com/news/using-cross-collateralization-to-scale-your-real-estate-portfolio Published: Wed Jul 01 2026 00:00:00 GMT+0000 (Coordinated Universal Time) Building a real estate portfolio is rarely a straight line. For most investors, growth can slow the moment their available capital is fully deployed. Every dollar is tied up in existing properties, and acquiring the next deal means waiting for a sale to close, taking on expensive unsecured debt, or sitting on the sidelines while opportunities pass. But what if the equity sitting dormant in your existing properties could be put to work immediately? Cross-collateralization is a powerful, yet underutilized financing strategy that allows real estate investors to leverage multiple properties as combined collateral for a single bridge loan , unlocking capital that would otherwise remain inaccessible. When used strategically, it creates a compounding effect that accelerates portfolio growth — a snowball rolling downhill, gaining size and momentum with every deal. What Is Cross-Collateralization? Cross-collateralization is a lending structure in which two or more properties are pledged as coll... ### When Traditional Financing Fails: How Bridge Loans Rescue Stalled Real Estate Deals URL: https://www.myerscapitalhawaii.com/news/how-bridge-loans-rescue-stalled-real-estate-deals Published: Thu Jun 18 2026 00:00:00 GMT+0000 (Coordinated Universal Time) For real estate investors, timing is everything. Whether you are acquiring a new property, completing a major renovation, or waiting for an asset to stabilize, the success of your investment strategy relies on a predictable flow of capital. However, even the most meticulously planned real estate projects can encounter sudden roadblocks. What happens when an institutional lender denies your funding at the eleventh hour? What are your options when a conventional lender refuses to extend a maturing loan because of a minor open permit? For many investors, these scenarios can lead to stalled projects, lost equity, and missed opportunities. When traditional financing fails or timelines become too long to manage, bridge loans offer a powerful, strategic solution. At Myers Capital Hawaii, we have seen firsthand how short-term, private bridge financing can rescue deals on the brink of collapse, allowing investors to overcome unexpected hurdles, protect their investments, and cross the finish li... ### What Is ARV in Real Estate? How to Calculate After Repair Value URL: https://www.myerscapitalhawaii.com/news/what-is-arv-in-real-estate-and-how-to-calculate-it Published: Wed Jun 10 2026 00:00:00 GMT+0000 (Coordinated Universal Time) What is ARV In Real Estate? What Real Estate Investors Should Know ARV (After-Repair Value) estimates what a property will be worth after renovations. It’s vital for real estate investors when assessing purchase price, repair budgets, and potential ROI. Accurate ARV relies on comparable property sales and clear cost/value estimates. Basic ARV formula : Property’s current value + added value from improvements Use comps post-renovation to refine ARV accuracy 70% rule helps determine max purchase price Professional help from agents or appraisers improves estimates Myers Capital offers financing options tailored for investors   What is ARV in real estate? ARV refers to after-repair value, a useful metric that helps real estate investors estimate the value of a property after planned repairs, renovations, and improvements are completed. An accurate ARV estimation can help real estate investors make key decisions related to their financial goals, including: How much to spend on a ... ### What Is Delayed Financing and How Does It Work? URL: https://www.myerscapitalhawaii.com/news/what-is-delayed-financing-and-how-does-it-work Published: Fri Jun 05 2026 00:00:00 GMT+0000 (Coordinated Universal Time) What is Delayed Financing & How Does it Work? Delayed financing lets buyers purchase a property with cash, then quickly secure a mortgage afterward. This approach combines the advantages of an all-cash offer with the long-term benefits of financing, giving investors flexibility and improved access to capital. In simple terms, buyers pay in cash and then take out a mortgage soon after to “reimburse” themselves. Unlike traditional cash-out refinancing, delayed financing does not require a waiting period. This strategy can be used with both conventional loans and bridge loans—each with its own benefits and requirements. Understanding Delayed Financing A delayed financing transaction typically follows these steps: A buyer or investor identifies a property to purchase. The property is purchased with cash, giving the buyer the strength of a no-contingency, all-cash offer. Once the purchase closes, the buyer applies for a mortgage to unlock capital tied up in the property The funds from t... ### MortgageWise Newsletter – Spring 2026 URL: https://www.myerscapitalhawaii.com/news/mortgagewise-newsletter-spring-2026 Published: Wed Apr 29 2026 00:00:00 GMT+0000 (Coordinated Universal Time) Mortgage News and Updates – Spring 2026 Get the latest mortgage industry news. CLICK HERE . -Economy & Mortgages: Mortgage Rate Outlook: Improved Momentum and Opportunity   -Put Your Home Equity to Work -Buying Before Selling: The Modern Bridge Strategy   -Refinancing in 2026: It’s Not Just About the Rate -Waiting for the Perfect Mortgage Rate?   Economy & Mortgages: Mortgage Rate Outlook: Improved Momentum and Opportunity   The housing market entered 2026 with renewed optimism. In February, mortgage rates dipped below the 6% threshold for the first time in over three years, triggering an 11% jump in mortgage applications. Inventory is also beginning to build as we approach the Spring selling season, signaling a healthier and more active market. More recently, geopolitical tensions have introduced some uncertainty, pushing mortgage rates back up into the low-6%’s. While that has tempered some of the early momentum, it hasn’t changed the broader trajectory. T... ### Mortgage Rate Outlook: Improved Momentum and Opportunity URL: https://www.myerscapitalhawaii.com/news/mortgage-rates-improved-momentum-and-opportunity Published: Tue Apr 21 2026 00:00:00 GMT+0000 (Coordinated Universal Time) The housing market entered 2026 with renewed optimism. In February, mortgage rates dipped below the 6% threshold for the first time in over three years, triggering an 11% jump in mortgage applications. Inventory is also beginning to build as we approach the Spring selling season, signaling a healthier and more active market. More recently, geopolitical tensions have introduced some uncertainty, pushing mortgage rates back up into the low-6%’s. While that has tempered some of the early momentum, it hasn’t changed the broader trajectory. Today’s rate environment remains meaningfully improved from the highs of the past two years, and demand continues to respond when conditions improve. Looking ahead over the next six months, mortgage rates are expected to remain relatively “sticky” in the low 6%’s. Inflation risks—driven in part by energy prices moving back above $100 per barrel—may limit how quickly rates decline, and the Federal Reserve has taken a cautious,  data-driven stance. Wh... ### 2026 Conforming and FHA Loan Limits Jump 3.26% URL: https://www.myerscapitalhawaii.com/news/conforming-loan-limits-2026 Published: Mon Apr 06 2026 00:00:00 GMT+0000 (Coordinated Universal Time) The Federal Housing Finance Agency (FHFA) has announced the new conforming loan limits for 2026 on residential mortgages acquired by Fannie Mae and Freddie Mac. These higher limits reflect continued home price appreciation over the past year. The new baseline loan limit for one-unit properties will be $832,750, representing a $26,250 increase over 2025. In high-cost areas such as Hawaii and Alaska—where 115% of the local median home value exceeds the baseline—loan limits are adjusted higher. For 2026, the maximum loan limit in these areas will be $1,249,125, or 150% of the baseline limit. FHFA 2026 Limits Number of Units Baseline Limits High-Cost Area Limits One $832,750 $1,249,125 Two $1,066,250 $1,599,375 Three $1,288,800 $1,933,200 Four $1,601,750 $2,402,625 FHA 2026 Limits Number of Units Low-Cost Area “Floor” High-Cost Area “Ceiling ”   Alaska, Hawaii, Guam, and U.S. Virgin Islands “Ceiling” One $541,287 $1,249,125 $1,873,625 Two $693,050 $1,599,375 2,399,050 Three $837,700 $... ### Mortgage Rate Outlook: Gradual Improvement Continues URL: https://www.myerscapitalhawaii.com/news/mortgage-rate-outlook-gradual-improvement-continues-in-2026 Published: Mon Jan 19 2026 00:00:00 GMT+0000 (Coordinated Universal Time) As the 2026 forecasts roll out, one theme stands out: gradual but meaningful improvement. While headlines warn of everything from AI bubbles to economic shocks, the housing market looks comparatively steady—and increasingly predictable. Housing: Affordability Slowly Returns (Un-)Affordability has been the housing story of the last few years. Housing costs recently peaked at about 42% of median household income, far above the long-standing 30% rule of thumb. The good news is that pressure is easing. With home prices forecast to be roughly flat in 2026, affordability has room to recover. The price-to-income ratio peaked above 5.5x income in 2022, has fallen to about 5.3x, and is projected to dip below 5x next year. Truly balanced markets tend to sit closer to 4x income, so there’s still work to do—but the trend is in the right direction, especially if incomes continue to rise. Activity: The Lock-In Effect Is Fading Market activity should pick up in 2026 as the “lock-in” effect of 3% mort... ### MortgageWise Newsletter – Winter 2026 URL: https://www.myerscapitalhawaii.com/news/mortgagewise-newsletter-winter-2026 Published: Sat Jan 17 2026 00:00:00 GMT+0000 (Coordinated Universal Time) Mortgage News and Updates – Winter 2026 Get the latest mortgage industry news. CLICK HERE .   -Economy & Mortgages: Mortgage Rate Outlook: Gradual Improvement Continues -2026 Conforming Loan Limits Increased! -Down Payment Strategy: Finding the Sweet Spot -Debt-to-Income Ratios: The Quiet Lever That Can Make or Break a Loan Application -Is the 50-year Mortgage a Good Idea? Economy & Mortgages: Mortgage Rate Outlook: Gradual Improvement Continues As the 2026 forecasts roll out, one theme stands out: gradual but meaningful improvement. While headlines warn of everything from AI bubbles to economic shocks, the housing market looks comparatively steady—and increasingly predictable. Housing: Affordability Slowly Returns (Un-)Affordability has been the housing story of the last few years. Housing costs recently peaked at about 42% of median household income, far above the long-standing 30% rule of thumb. The good news is that pressure is easing. With home prices forecast to be r... ### Private Mortgage Investing with Reed Myers | Nalu Finance Podcast URL: https://www.myerscapitalhawaii.com/news/private-mortgage-investing-with-reed-myers-nalu-finance-podcast Published: Mon Dec 15 2025 00:00:00 GMT+0000 (Coordinated Universal Time) In this episode of the Nalu Finance Podcast , Stefan Wagner interviews Reed Kawai Myers , Principal of Myers Capital Hawaii  and Myers Investment Group . They discuss private mortgage and bridge loan investing, and examine why Hawaii is a uniquely attractive yet underbanked market. They explore how private lending operates outside of traditional banks, detailing how investors can access asset-backed mortgage opportunities. The episode covers expected returns, approaches to risk management, liquidity considerations, and the process when borrowers default. What’s Inside: ●How private mortgage lending works — how it differs from bank lending, why underwriting is asset-focused, and how first-lien real estate collateral protects investors. ●Why Hawaii is a unique private credit market — underbanked, relationship-driven, and shaped by local knowledge, culture, and conservative loan-to-value discipline. ●Risk, returns, and reality — how double-digit yields are generated, what semi-l... ### Mortgage Rate Outlook: A More Buyer-Friendly Market URL: https://www.myerscapitalhawaii.com/news/mortgage-rate-outlook-a-more-buyer-friendly-market Published: Wed Oct 22 2025 00:00:00 GMT+0000 (Coordinated Universal Time) Two years ago, real estate was a sprint—record-low rates, surging demand, and bidding wars. Homes closed in days, often with inspections waived; buyers rushed or risked being priced out. Now the script has flipped. With higher rates, demand has cooled and the market has found balance. Joel Berner, Senior Economist at Realtor.com, calls today a “buyer-friendly balanced market.” “[We see] a lot of sellers with some unrealistic expectations who list their homes maybe at prices they would have gotten in 2022, but it’s not 2022 anymore. So they have to do price reductions and negotiate with buyers.” It’s not a classic buyer’s market, but buyers have time for due diligence and leverage for repairs, credits, or closing costs. Instead of racing, we can align budget and long-term goals to structure the right path to ownership. For sellers, homes no longer “fly off the shelf.” Overpriced or fixer-upper listings sit. Homes need realistic pricing, curb appeal, and seller flexibility. What about ra... ### Mortgage Newsletter Fall 2025 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-fall-2025 Published: Wed Oct 22 2025 00:00:00 GMT+0000 (Coordinated Universal Time) Mortgage News and Updates – Fall 2025 Get the latest mortgage industry news. CLICK HERE . -Economy & Mortgages: Mortgage Rate Outlook: A More Buyer-Friendly Market -Is VantageScore Your Credit Comeback Story? -CRYPTO Meets Mortgages -10 Mortgage Moves to Tame Today’s Rates -Rates are Down! Is it Time to Refinance? Economy & Mortgages: Mortgage Rate Outlook: A More Buyer-Friendly Market Two years ago, real estate was a sprint—record-low rates, surging demand, and bidding wars. Homes closed in days, often with inspections waived; buyers rushed or risked being priced out. Now the script has flipped. With higher rates, demand has cooled and the market has found balance. Joel Berner, Senior Economist at Realtor.com, calls today a “buyer-friendly balanced market.” Is VantageScore Your Credit Comeback Story? Credit scoring often feels like a locked vault. A mysterious process that most consumers don’t understand, and no alternative way to measure your creditworthiness. If ... ### How Do Ground Up Construction Loans Work URL: https://www.myerscapitalhawaii.com/news/how-do-ground-up-construction-loans-work Published: Fri Aug 22 2025 00:00:00 GMT+0000 (Coordinated Universal Time) A Guide for Real Estate Investors Real estate investors have a broad range of opportunities in the current market.  Existing properties offer plenty of advantages in the right situations – no savvy real estate investor would deny that. New construction, designed with the preferences and demands of the local market in mind, can offer everything from more control and oversight to increased ROI from selling the property or renting it. Also, there are times when a new project that’s already broken ground or in the middle of construction that needs additional funding to reach its end. Completing the project and making sure it can create revenue is vital. For both new construction and in-progress projects that need some extra funding, construction loans are a key tool for real estate investors. These loans can maximize the ROI of the project through custom construction, which tailors the property to align with the wants and needs of the local housing market. So, how do construction loan... ### Mortgage Rate Outlook: Is it a Buyer’s Market Yet? URL: https://www.myerscapitalhawaii.com/news/mortgage-rate-outlook-is-it-a-buyers-market-yet Published: Tue Jul 15 2025 00:00:00 GMT+0000 (Coordinated Universal Time) Regarding the direction of U.S. economic policies, and the impact those policies will have on our economy, it’s still anybody’s guess. Meanwhile, the U.S. housing market seems to be navigating its own path, shaped by elevated mortgage rates, tight supply, and evolving buyer preferences. Home price increases have slowed, and we’re starting to see longer days-on-market coupled with price cuts on homes that were priced too high by overly optimistic sellers. While it may yet be a bit early to declare a buyer’s market, it’s certainly becoming more balanced! Mortgage Rates – More Like This Rates are likely to stay elevated for the rest of the year. The jobs picture is slowing, but the overall labor market is still tight, and the Fed has emphasized that they need more clarity on the impact of inflation, government policy, and global trade before bringing the Fed Funds Rate down. Most economists are now projecting two rate cuts later in the year, if the job market weakens further t... ### Mortgage Newsletter Summer 2025 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-summer-2025 Published: Tue Jul 15 2025 00:00:00 GMT+0000 (Coordinated Universal Time) Mortgage News and Updates – Summer 2025 Get the latest mortgage industry news.  Click here . -Economy & Mortgages: Mortgage Rate Outlook—Is it a Buyer’s Market Yet? -What is SOFR? -Elevated Fixed Loan Rates Revive Interest in ARMs – Discover the Reasons -Down Payment Assistance Programs Expanding -Helping the Family Build Wealth, with a Gift of Equity Economy & Mortgages: Mortgage Rate Outlook—Is it a Buyer’s Market Yet? What is SOFR? Nope. It’s not what you sit on to watch TV. SOFR (Secured Overnight Financing Rate) is the benchmark interest rate that many U.S. adjustable-rate mortgages (ARMs) track with. SOFR represents banks’ cost of borrowing cash overnight, and it is published daily by the New York Federal Reserve. SOFR is a more robust, transparent alternative to the London Interbank Rate (LIBOR) which had been the primary ARM benchmark for decades before a crisis in its formulation process caused the marketplace to lose confidence in it. The interest rate on an ARM ... ### What Is a Bridge Loan and What Are Its Benefits for Real Estate Investors? URL: https://www.myerscapitalhawaii.com/news/what-is-a-bridge-loan-and-what-are-its-benefits-for-real-estate-investors Published: Tue Jun 24 2025 00:00:00 GMT+0000 (Coordinated Universal Time) Blog Summary: Bridge loans are short-term financing tools typically 6 to 24 months long that help real estate investors act quickly on real estate opportunities. They offer fast capital, flexibility, and access to equity, making them ideal for competitive markets. Investors can secure deals, fund improvements, and scale portfolios without traditional financing delays. Key benefits: speed, equity access, asset repositioning No personal income verification  Fast approval and funding timelines Close in as little as 10 days  Terms: 6 to 24 months. Extensions possible on a case-by-case-basis.  Provide cash out when property is already owned and has substantial equity Acquire or finance properties that are in disrepair  Investors often face situations in which they need to move fast on a real estate opportunity. Sometimes, they need to act before selling an existing asset or securing long-term financing. When timing is everything, bridge loans become one of the most power... ### Tips for Securing Mortgage Loans for Self-Employed Individuals URL: https://www.myerscapitalhawaii.com/news/tips-for-securing-mortgage-loans-for-self-employed-individuals Published: Thu May 22 2025 00:00:00 GMT+0000 (Coordinated Universal Time) Blog Summary:  Securing a mortgage when you’re self-employed takes planning, but it’s possible with the right approach. Organize finances, explore alternative income documentation, and work with a lender who understands self-employed needs. -Gather clear financial documentation -Use bank statements, 1099s, or (Profit & Loss) P&Ls -Understand how lenders calculate income -Strengthen your credit profile -Separate business/personal finances -Choose a lender experienced with self-employed borrowers Mortgage loans for self-employed individuals can be more complex than traditional financing. After all, self-employed borrowers must go the extra mile to prove their income and financial stability. However, with the right strategy and lender, you can overcome common hurdles and successfully finance a primary residence, second home or investment property. At Myers Capital, we know it can be challenging to get a mortgage loan if you’re self-employed. That’s why we specialize in ... ### Why Hybrid Finance Firms Thrive in Hawaii’s Pricey Real Estate Market URL: https://www.myerscapitalhawaii.com/news/why-hybrid-finance-firms-thrive-in-hawaiis-pricey-real-estate-market Published: Tue Apr 22 2025 00:00:00 GMT+0000 (Coordinated Universal Time) In an industry obsessed with specialization, one hybrid firm is pursuing on versatility – and it’s paying off. Automation may cut the grunt work, but running a boutique firm that juggles lending, broking and fund management still demands hands-on hustle – and it’s a model that’s quietly thriving. While the financial services industry leans increasingly into specialization, some boutique firms are embracing a hybrid model that blends traditional mortgage services with investment fund management. This approach leans heavily on operational efficiency and AI, with automation handling up to 80% of formerly manual tasks. In high-cost markets like Hawaii, where the median price of a single-family home on Oʻahu reached $1.02 million in early 2024 , offering flexible financing and investment solutions under one roof can be the key to staying competitive. It’s the model Reed Myers (pictured) has refined over the years. During the 2008 crash, he joined the mortgage company his father ... ### What is a DSCR Loan? What You Need To Know URL: https://www.myerscapitalhawaii.com/news/what-is-a-dscr-loan-what-you-need-to-know Published: Wed Apr 16 2025 00:00:00 GMT+0000 (Coordinated Universal Time) Summary: What is a DSCR Loan? A DSCR loan is a real estate financing option based on a property’s cash flow rather than the borrower’s income. Popular among rental property investors, DSCR loans help qualify borrowers using rental income potential. These loans are flexible, can be refinanced, and are ideal for scaling real estate portfolios. Key Points: • DSCR Defined: Stands for Debt Service Coverage Ratio; measures property income vs. debt. • Eligibility: Based on property cash flow, not borrower’s personal income. • Formula: DSCR = Net Operating Income / Total Debt Service. • Typical Requirements: DSCR ≥ 1.0, credit score in 600s, 20% down payment. • Credit Reporting: Loans usually don’t appear on credit reports, but related activity may affect scores. • Refinancing: Allowed, including cash-out options – evaluate for potential penalties. • Loan Limits: No set cap on the number of DSCR loans a borrower can have. • Myers Capital Hawaii: Offers expert guidance and DSCR loan solutions f... ### Tariffs, Inflation, and the Fed: What’s Next for Mortgage Rates URL: https://www.myerscapitalhawaii.com/news/tariffs-inflation-and-the-fed-what-is-next-for-mortgage-rates Published: Wed Apr 09 2025 00:00:00 GMT+0000 (Coordinated Universal Time) Tariffs. A government-efficiency task force. No Tariffs. Court challenges. New tariffs . The start of the new presidential term has been unprecedented. Mortgage rates remain in the mid-6%’s, and experts now predict they won’t fall much this year. Taking a wait-and-see approach, the Federal Reserve has paused rate drops, citing concerns about economic growth, the potential effects of policy actions under the new administration, and persistent inflation which (excluding food and energy) remains at around 3.1%, versus the Fed’s desired 2% target. Low inventory for sale continues to be a dominant factor in market dynamics. While rates are actually only about 1% above their long-term historical average, the effect on market psychology is real. Until rates come down, the “lock-in effect” is expected to continue. “(This) effect, where homeowners are reluctant to sell due to low existing mortgage rates, will continue to constrain inventory in 2025,” said Ali Wolf, Zonda Chief Economist. Those ... ### Mortgage Newsletter Spring 2025 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-spring-2025 Published: Wed Apr 09 2025 00:00:00 GMT+0000 (Coordinated Universal Time) Mortgage News and Updates – Spring 2025 Get the latest mortgage industry news.  Click here . – Economy & Mortgages: Tariffs, Inflation, and the Fed: What’s Next for Mortgage Rates – What is NMLS all about? – How to Access Equity without Letting Go of a Good Thing. – What are Involuntary Property Liens? – What’s an Appraisal Gap? (And How Not to Fall Into It!) Economy & Mortgages: Tariffs, Inflation, and the Fed: What’s Next for Mortgage Rates What is NMLS all about? You likely know the “MLS” is a service listing current homes for sale. What, though, is the NMLS? It’s only different by 1 letter, after all! Meet the “Nationwide Multistate Licensing System.” Not a listing of homes for sale, but an important consumer resource — an online platform used by states to manage licenses for mortgage loan originators and lenders. Created in response to certain practices that contributed to the financial crisis of 2007-2010, it allows ind... ### If the Fed is Easing Rates, Why are Mortgages not Exactly Following? URL: https://www.myerscapitalhawaii.com/news/why-mortgage-rates-are-not-dropping-after-the-federal-reserve-interest-rate-cuts Published: Fri Jan 03 2025 00:00:00 GMT+0000 (Coordinated Universal Time) We have been fielding calls over the last few months from clients who are wondering why, when the Fed has eased interest rates, mortgage rates have actually risen again after a brief dip over the summer. Great question! To answer this, first know that the Federal Reserve (Fed) doesn’t directly set mortgage rates. Its mission today is battling inflation and keeping the economy out of a recession. Indeed, the Fed can influence mortgage market rates by expanding or shrinking its balance sheet, buying and selling huge batches of government securities in the open market, as it did during the financial meltdown / Great Recession 15 years ago. While that’s an example of how Fed actions can indirectly affect mortgage rates, clearly there must be other factors involved! Federal Funds Rate: The Fed sets the federal funds rate, which is the interest rate banks charge each other for very short-term (overnight) loans, as banks manage their daily cash flow. Mortgages, being longer-term d... ### Mortgage Rate Outlook 2025: Gradual Normalizing Continues URL: https://www.myerscapitalhawaii.com/news/mortgage-rate-outlook-2025-gradual-normalizing-continues Published: Fri Jan 03 2025 00:00:00 GMT+0000 (Coordinated Universal Time) Financial markets value certainty. Regardless of which party controls the White House or Congress, putting the election behind us gives markets a clearer view of the economic policy ahead. Although a certain amount of uncertainty (pun intended!) does still surround things, the prospects of a housing-friendly regulatory environment have the industry cautiously optimistic. Mortgage rates have been bumping along in the mid-6’s with the markets reacting one way or the other to economic news of the day. The Fed, jobs, unemployment numbers, inflation, and even the impact of potential tariffs on our trading partners (or is it all posturing?). On the economic front, the picture is mixed. Payroll job gains are solid, though concentrated narrowly in a few sectors. At the same time, unemployment is rising, now above 4%, with more households reporting long-term unemployment and the hiring rate on the decline. If you have a hard time seeing how both are possible at once, you’re not alone.   Th... ### Mortgage Newsletter Winter 2024 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-winter-2024 Published: Fri Jan 03 2025 00:00:00 GMT+0000 (Coordinated Universal Time) Mortgage News and Updates – Winter 2024 Get the latest mortgage industry news.  Click here . – Economy & Mortgages: Mortgage Rate Outlook – Gradual Normalizing Continues – Is AI taking over mortgage lending yet? – If the Fed is easing rates, why are mortgages not exactly following? -Inheriting a house with a mortgage. What to consider. -What’s Mortgage Protection Insurance and Do You Need It? Economy & Mortgages: Mortgage Rate Outlook 2025 – Gradual Normalizing Continues Is AI taking over mortgage lending yet? The mortgage business has been automating steadily for years, and as Artificial Intelligence (AI) becomes more powerful, there exists a potential to help lenders achieve faster, more data-driven results. Already, our tools are able to collect and analyze your financial data, and can automate many routine underwriting steps, speeding up initial risk assessments and approval decisions, and reducing costs. But AI falls short for now because mortg... ### Why Mortgage Rates Are Not Falling Despite Federal Reserve Rate Cuts URL: https://www.myerscapitalhawaii.com/news/why-mortgage-rates-are-not-falling-despite-federal-reserve-rate-cuts Published: Fri Nov 08 2024 00:00:00 GMT+0000 (Coordinated Universal Time) The Federal Reserve today announced its second rate cut of 2024, lowering its benchmark interest rate by 0.25% just after the U.S. presidential election. This follows a 0.5% reduction in September and is in response to easing inflation and persistently low unemployment. This move comes after a series of 11 rate increases from March 2022 to July 2023, bringing relief to consumers by reducing borrowing costs for credit cards, auto loans, and home equity lines of credit. Impact on Mortgage Rates While the Federal Reserve doesn’t directly set mortgage rates, it influences them through its policies. Mortgage rates generally follow the direction of shorter-term interest rates. However, despite the 0.5% rate cut in September, mortgage rates have actually risen, with 30-year fixed-rate loans now averaging 6.79%, according to Freddie Mac. Key Economic Factors Influencing Mortgage Rates -Bond Market: Mortgage bonds, or mortgage-backed securities (MBS), consist of groups of mortgages bundled toge... ### Mortgage Rate Outlook: Ready to Take Advantage of Lower Interest Rates? URL: https://www.myerscapitalhawaii.com/news/ready-to-take-advantage-of-lower-interest-rates Published: Mon Sep 16 2024 00:00:00 GMT+0000 (Coordinated Universal Time) The mortgage market has made a promising shift! Mortgage rates are gradually decreasing from their near-8% peak last Fall, making homeownership more accessible for those wishing to buy. The average rate on a 30-year fixed mortgage first retreated under 7% in July thanks to a brighter June inflation report. That favorable trend continued into August, bringing the national average 30-year fixed rate solidly under 6.5%, where it has been hovering as the market waits for continued developments on both inflation and the health of the economy. Inflation still sits a bit higher than the Federal Reserve’s 2% target, but continuing to trend in the right direction. Coupled with signs of weakness in the job market, the Fed chairman indicated in late August that they’re finally ready to start cutting rates in September. Keep in mind that bond rates and mortgage rates have recently fallen in the absence of a Fed rate cut — more appropriately, in anticipation of a Fed rate cut. That means any ... ### Mortgage Newsletter Fall 2024 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-fall-2024 Published: Tue Sep 10 2024 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news.  Click here . – Economy & Mortgages: Mortgage Rate Outlook – Ready to Take Advantage of Lower Interest Rates? -ARMs are Big   -The Importance of Liquidity When Buying -Should You Skip the Rate Lock?   -Is Title Fraud Really a Problem?  Economy and Mortgages Mortgage Rate Outlook – Ready to Take Advantage of Lower Interest Rates? ARM’s are BIG Adjustable Rate Mortgages (ARM’s), which are usually fixed for 3, 5, 7, or 10 years before they actually start to adjust, are a popular alternative to 30-year fixed-rate mortgages, since they can have lower initial rates, which can improve affordability. They can be a smart option for buyers who don’t plan to stay put. ARM’s tend to be more popular with younger, higher-income households that have larger mortgages, according to the Federal Reserve Bank of St. Louis. Because rates have been high recently, ARM\s represent about 16% of the market, near a historical ... ### Why Mortgage Rates are Holding Steady URL: https://www.myerscapitalhawaii.com/news/why-mortgage-rates-are-holding-steady Published: Mon Jun 03 2024 00:00:00 GMT+0000 (Coordinated Universal Time) Expectations for a drop in mortgage rates in the coming months have shifted as new economic data has arrived. Inflation at 3.4% (annual, as of April) remains stubbornly above the Fed’s 2% target. The Fed is unlikely to reduce rates until they’ve seen multiple positive (lower) inflation readings — unless other economic indicators take a nosedive. Watch the labor market in particular. This Spring, the Fed signaled that they’d continue to hold their benchmark rate level, so mortgage rates, which were trending down in anticipation of lower future rates, did an about-face and popped up over the 7% mark. Recent softening in the Core Consumer Price Index (which strips out volatile food and energy prices), and softer jobs data has lowered the 10-year bond rate, and with it, we saw improved mortgage rates during the first half of May. A bit of wiggle room for buyers! At the same time, the tight housing inventory situation continues, so prices are firm and continuing to rise (though not qu... ### Mortgage Newsletter Summer 2024 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-summer-2024 Published: Mon Jun 03 2024 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news. Click here . – Economy & Mortgages: Why Rates are Holding Steady? -Converting Equity Into Renovations: Sizing Up the Possibilities   -Tackling Affordability Challenges: The Non-Occupant, Co-Borrower Strategy -Down Payments for VA Loans  -APR Explained  Economy & Mortgages: Why Rates are Holding Steady? Converting Equity Into Renovations: Sizing Up the Possibilities Homeowners today are enjoying a record level of home equity, built up by faster appreciation, low-cost loans from a few years back, and staying-put-longer trends. Naturally, we get a lot of inquiries about tapping this equity for renovations, and upgrades. We like to help clients break it down into not just “needs” and “wants” but when it makes sense to do each. Mandatory projects that should happen right away: This includes addressing deferred maintenance like dry rot, foundation problems, mold remediation, roofing problems, wiring or plumbing issues, saggi... ### How to Invest in Out-Of-State Rental Properties URL: https://www.myerscapitalhawaii.com/news/6-important-tips-for-investing-in-out-of-state-rental-properties Published: Sun Mar 31 2024 00:00:00 GMT+0000 (Coordinated Universal Time) 6 Key Tips for Success Investing in rental property can be a solid path to building wealth through real estate. You’ll need to select good areas in which to buy since location is a critical factor in the success of an investment property. Many investors purchase rentals in areas they live in but this may not always be the most profitable option. Owning out-of-state rental property has many benefits. A main reason is the return on investment (ROI) may be higher than properties in your own state. Home prices, rental market conditions and regulations, property tax rates, and other factors may be more favorable in another state, which can improve the potential profitability of a rental. High-cost areas and markets with falling real estate prices may not be good choices since they can have lower or negative ROI. While any real estate transaction has risks, buying and owning property outside of your area comes with different challenges than other deals. These include a lack of familiarity wi... ### How to Calculate Rental Property ROI: Formulas and Examples URL: https://www.myerscapitalhawaii.com/news/how-to-calculate-potential-roi-before-investing-in-a-rental-property Published: Tue Mar 26 2024 00:00:00 GMT+0000 (Coordinated Universal Time) Before buying a rental property, estimate the income it can produce, the costs of owning it, and the cash required to acquire it. Several measures help answer different questions: cash flow shows what remains after expenses, cash-on-cash return measures income against your cash investment, and cap rate helps compare properties before financing. Rental property ROI at a glance ROI broadly compares an investment’s net gain with its cost over a stated period. For a rental financed with a loan, annual cash-on-cash return is a useful measure of ongoing cash income. It is not the same as total return, which can also reflect changes in property value and equity. Annual cash-on-cash return = annual pre-tax cash flow ÷ total cash invested × 100 Use cash flow after operating expenses and loan payments—not gross rent. Include your down payment, closing costs, and initial out-of-pocket improvements in the cash-invested total. A simple rental property example The following simplified illustra... ### Rates Finally Easing: Is Now the Time to Buy? URL: https://www.myerscapitalhawaii.com/news/rates-finally-easing-is-now-the-time-to-buy Published: Mon Feb 26 2024 00:00:00 GMT+0000 (Coordinated Universal Time) As we embark on 2024, we continue to expect a soft landing for the U.S. economy and a gradual easing in mortgage rates. The Federal Reserve has kept their benchmark Fed Funds rate steady since late last July. Experts think the Fed will hold steady once again in March and continue to monitor inflation data. The May Fed meeting is the one to really watch. Why? The Fed has to decide when to stop shrinking its balance sheet, which had ballooned by nearly $3 trillion during the pandemic as money was pumped into the economy, in part by buying up mortgage-backed securities, driving rates to record lows. In 2023, as the Fed has shrunk that balance sheet, rates have risen. The Fed’s balance sheet is almost back to pre-pandemic levels, so the Fed has to decide when to slow down the unwinding process, which should have a downward effect on rates. The strength of the economy this Spring will also play a role. Meanwhile as abnormally large spreads between the 30-year fixed rate mortgage and t... ### Mortgage Newsletter Spring 2024 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-spring-2024 Published: Sat Feb 24 2024 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news. Click here . – Economy & Mortgages: Rates Finally Easing: Is Now the Time to Buy? – Higher Conforming Loan Limits Creates Opportunities in 2024 – The Best Mortgage? It’s Not Always What You’d Expect.   – Clash of the Generations: Millennials vs. Downsizing Boomers – What’s a Non-Warrantable Condo? And Can It Be Financed? Economy & Mortgages: Rates Finally Easing: Is Now the Time to Buy? Higher Conforming Loan Limits Creates Opportunities in 2024 The FHFA’s conforming loan limit increase is based on a formula using home-price data in the third quarter of each year. Coming into 2023 we saw an increase of 12.21%. Housing prices nationally have risen at a slower pace in the face of higher interest rates, but still faster than the historical average. Accordingly, for 2024, the baseline Conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac will rise by 5.5%. For 2024, the ma... ### Mortgage Myths and Misinformation Debunked URL: https://www.myerscapitalhawaii.com/news/mortgage-myths-and-misinformation-debunked Published: Fri Jan 19 2024 00:00:00 GMT+0000 (Coordinated Universal Time) It is always surprising to sit down with clients who are approaching home buying for the first time (or sometimes even a move-up buyer) to find them harboring old truths, myths, and misconceptions about how to finance a real estate purchase. Dispelling these is our first step in creating an educated, well-prepared borrower.   Here are the top mortgage myths, misinformation, and half-truths we often encounter: -“You need a 20% down payment.” This myth just refuses to die. Years ago, this may have been true, but certainly not today. There are government-backed loans that allow for as little as 0% down. The average first-time buyer only puts about 6-7% down these days. -“You need to find a home before you apply for a mortgage.” In fact, the opposite is the better strategy, if you wish to successfully compete in a tight market. Let’s get you preapproved first, with the property TBD, and you’ll know just how much home you can buy before you start shopping. A solid preapproval tel... ### Conforming and FHA Loan Limits Boosted for 2024 URL: https://www.myerscapitalhawaii.com/news/2024-conforming-loan-limits Published: Fri Dec 08 2023 00:00:00 GMT+0000 (Coordinated Universal Time) New 2024 loan limits for conforming mortgages have increased to $766,550 and $1,149,825 in high-cost areas like Hawaii. The Federal Housing Finance Agency (FHFA) recently announced these conforming loan limit amounts for residential mortgages to be acquired by Fannie Mae and Freddie Mac. The 2024 limits increased significantly due to the continuing rise in home prices. The new $766,550 baseline loan limit for one-unit properties is a hike of $40,350 from $726,200 for 2023 . High-cost areas like Hawaii, Alaska, and locations in Virginia, have a new ceiling loan limit for one-unit properties of $1,149,825 versus $1,089,300 for 2023. Number of Units Baseline Limits High-Cost Area Limits One $766,550  $1,149,825 Two $981,500 $1,472,250 Three $1,186,350 $1,779,525 Four $1,474,400 $2,211,600 For Federal Housing Authority (FHA) loans, the new 2024 conforming loan limit is $498,257, a $60,000 increase over the 2023 baseline. FHA loans have lower down payment and credit score requirements ... ### Have Rates Peaked? What’s Ahead for Home Buyers? URL: https://www.myerscapitalhawaii.com/news/have-rates-peaked-whats-ahead-for-home-buyers Published: Tue Nov 21 2023 00:00:00 GMT+0000 (Coordinated Universal Time) Economy & Mortgages Have Rates Peaked? What’s Ahead for Home Buyers?  The Mortgage Bankers Association held its big annual convention recently, and shared its two-year outlook about the economy and its impact on interest rates. In summary, with inflation expected to fall from the current 3.8% to 2% by the end of next year, the MBA doesn’t expect the Fed to hike interest rates further this year. “(The Fed is) already at a place where if they do nothing, and inflation holds or falls further from here, they’re going to be slowing the rate of growth, and the cumulative impact of the rate increases they’ve already made are not fully felt yet,” said Mike Fratantoni, MBA’s chief economist. The MBA’s baseline forecast is for mortgage rates to end 2024 at 6.1% and reach 5.5% at the end of 2025. That would be welcome news pointing to possible refinance opportunities for borrowers taking out mortgages at today’s rates. “As mortgage rates come down…borrowers will see less of a trade... ### Mortgage Newsletter – Winter 2023 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-winter-2023 Published: Fri Nov 10 2023 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news.  Click here . Inside this edition: – Economy & Mortgages: Have Rates Peaked? What’s Ahead for Home Buyers? – Will Higher Rates Lead to Falling Home Prices? The Historical View. – Adding Value with Accessory Dwelling Units (ADU) – Why Now Could Actually End Up Looking Like a Good Time to Buy – What’s Great Credit Worth? We do the math! Economy & Mortgages: Have Rates Peaked? What’s Ahead for Home Buyers? Will Higher Rates Lead to Falling Home Prices? The Historical View. Is buying a home when rates are high a bad idea? Assuming you have to stretch that mortgage payment to get into a home, one thing you’d naturally be concerned with is the likelihood that home prices would fall right after you buy. While this is of course a possibility, it’s statistically unlikely. As it turns out, home prices don’t correlate well with mortgage rates. In fact, home prices tend to ignore mortgage rates most... ### Mortgage Newsletter Fall 2023 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-fall-2023 Published: Thu Aug 24 2023 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news.  Click here . – Economy & Mortgages: A Strange Disconnect – Why are Home Prices still Up when Rates are this High? – 4 Reasons to take a look at a Home Equity Line of Credit (HELOC) – Mortgage Myths Misinformation and a few Half Truths – Home Buying Remains Competitive: How we help you be Ready to “Pounce” – Using a 401(k) loan for a Down Payment – Is this a good idea?    Copyright © 2023 Myers Capital Hawaii   ### Why are Home Prices still Up when Rates are this High? URL: https://www.myerscapitalhawaii.com/news/why-are-home-prices-still-up-when-rates-are-this-high Published: Wed Aug 23 2023 00:00:00 GMT+0000 (Coordinated Universal Time) Economy & Mortgages A Strange Disconnect – Why are Home Prices still Up when Rates are this High? Follow the industry buzz, and you’ll get a range of viewpoints — from “The housing market is cooling off as rising interest rates and inflation weigh on affordability” (NAR), to “Home prices are expected to continue to rise in 2023, but at a slower pace…” (CoreLogic), to “The bidding wars are starting to cool off…” (Redfin).   While high mortgage rates would normally stomp all over home prices, that\s not happening. The reason? The number of homes for sale in June 2023 was still 22.2% below the same month in 2021. It’s still a seller\s market. That kind of environment makes it a good bet that home prices should continue to rise, albeit slowly. What drives the lack of inventory? We’ve talked in previous issues about homeowners who are reluctant to move and let go of a 3% mortgage, and/or aging in place longer. Now, think back two years: The housing market si... ### Mortgage Newsletter Summer 2023 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-summer-2023 Published: Sat May 20 2023 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news. Click here .    – Economy & Mortgages: Is The Fed Nearly Done? With Rates Expected to Soften Buyers See Opportunities Ahead    – A Deeper Look: Are High-Credit Borrowers Subsidizing Low-Credit Borrowers?    – The USDA Loan: What It’s For and How it Works    – Dreaming of a Second Home? What to Know Now That The Pandemic Rush is Over      – Low Down Payment Loans Increasingly Popular Copyright © 2023 Myers Capital Hawaii   ### 3 Main Options When Inheriting a Property URL: https://www.myerscapitalhawaii.com/news/3-main-options-when-inheriting-a-property Published: Sat Mar 25 2023 00:00:00 GMT+0000 (Coordinated Universal Time) You have inherited a property and you and other heirs are deciding what to do with the home. While it’s good to receive a large asset, inheriting property can bring numerous legal, financial, and familial challenges in addition to dealing with the loss of a loved one. You may need to work with legal and financial professionals to navigate probate procedures before your share of the asset can be claimed. Probate can take anywhere from months to years to settle the estate.   Here are three main options when inheriting property: 1 – Live in it as a primary residence 2 – Rent it out for passive Income 3 – Sell it for a windfall Whether you plan to live in, rent or sell the home, it’s important to not delay as holding expenses like the current mortgage, taxes, and insurance will accumulate and need to be paid to keep the property from going into foreclosure. How to Finance an Inherited Property  Here are ways to finance the home that could include funds to buy out your heirs or pa... ### Mortgage Newsletter Spring 2023 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-spring-2023 Published: Sun Feb 26 2023 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news.  Click here . – Economy & Mortgages: Getting (Slowly) Back to Normal… – 2023 Higher Conforming Loan Limits – Always Going the Extra Mile! It’s My Team’s Commitment to You. – Financing an ADU on Your Property – It’s Home Equity Revival   Copyright © 2023 Myers Capital Hawaii    ### Polish Up Your Credit Scores and DTI to get the Best Rates URL: https://www.myerscapitalhawaii.com/news/polish-up-your-credit-scores-and-dti-to-get-the-best-rates Published: Sun Dec 04 2022 00:00:00 GMT+0000 (Coordinated Universal Time) With the rise in rates, the power is shifting to buyers in real estate. This could present buying opportunities for qualified borrowers. To get the most attractive financing, though, you will need to keep your financial profile in tip-top shape. Though several factors play a role, high credit scores and low DTIs (debt-to-income ratios) typically dominate the calculation lenders use in determining your rate. Take Great Care of Your Credit Score  • Always pay your bills on time. People who never miss a payment date, even making minimum payments, earn higher credit scores. • Pay down or pay off credit card balances and personal loans. Low utilization of your available credit is a plus with credit agencies. If you use a credit card for all your expenses, and if your utilzation is high relative to your credit limits, switching some spending to cash can help.  • Keep older credit accounts open, and don’t keep switching creditors. A long track record of responsible use of cred... ### 2023 Conforming Loan Limits Reach Record Levels URL: https://www.myerscapitalhawaii.com/news/2023-conforming-loan-limits Published: Sat Dec 03 2022 00:00:00 GMT+0000 (Coordinated Universal Time) New 2023 loan limits for conforming mortgages will be $726,200 and exceed $1 million in higher-cost areas like Hawaii. The Federal Housing Finance Agency (FHFA) recently announced these conforming loan limit amounts for mortgages to be acquired by Fannie Mae and Freddie Mac. The 2023 baseline conforming loan limit of $726,200 is up $79,000 from this year’s limit of $647,200. In higher-cost areas, the loan limit is $1,089,300, or up to 150% of the baseline national loan limit. This year’s loan limit in high-cost areas is $970,800. Units Baseline Limits High-Cost Area Limits One $726,200 $1,089,300 Two $929,850 $1,394,775 Three $1,123,900 $1,685,850 Four  $1,396,800 $2,095,200  Loan limits are tied to average U.S. home prices, and 2021 and 2022 featured price increases at record levels. In the third quarters of 2021 and 2022, home prices jumped 12.21%, requiring 2023 baseline loan limits to increase by the same percentage, according to the FHFA. In Hawaii, the highest median sa... ### Mortgage Newsletter Winter 2022 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-winter-2022 Published: Fri Nov 11 2022 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news.  Click here . – Economy & Mortgages: Are Peak Mortgage Rates Just Ahead? – Polish Up Your Credit Scores and DTI’s to Get the Best Rates – Resist Mortgage Rate Lockdown Mentality – Is it a Buyer’s Market Yet? – ARM yourself with a great deal Copyright © 2022 Myers Capital Hawaii ### Mortgage Newsletter Fall 2022 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-fall-2022 Published: Tue Aug 23 2022 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news.  Click here . – Economy & Mortgages: The End of a Punishing Seller’s Market – Rate Buydowns Can Keep Payments Down When It Counts   – The Loans You Forgot About (Being Discovered Again!) – Business Owner? Self-Employed? Semi-Retired? Could you benefit from a Non-QM loan? Copyright © 2022 Myers Capital Hawaii ### Home Equity is Way Up: Are You Taking Advantage Of It? URL: https://www.myerscapitalhawaii.com/news/home-equity-is-way-up-are-you-taking-advantage-of-it Published: Wed Jun 01 2022 00:00:00 GMT+0000 (Coordinated Universal Time) With the rapid rate of home value increases across the country, many homeowners have found themselves sitting on a substantial amount of home equity. So called “tappable equity,” the amount a homeowner can access while still retaining at least 20% equity, rose by a whopping 32% between late 2020 and 2021, with further increases this year, according to Black Knight, a real estate analytics company. If you have decided to stay put, rather than try to purchase an upgraded home, there may be a reason to use some of that equity to improve how your home supports your desired lifestyle. Upgrade in place? With limited inventory and bidding wars, sometimes the grass isn’t greener on the other side of the fence. Expanding, or upgrading the features of your current home may be just the ticket. Work at home? All office workers cherish the chance to work from home part of the time, but a clear separation between family activities and work time makes working from home less stressful and more product... ### Do Higher Rates Mean the End of Exploding Home Prices URL: https://www.myerscapitalhawaii.com/news/do-higher-rates-mean-the-end-of-exploding-home-prices Published: Wed Jun 01 2022 00:00:00 GMT+0000 (Coordinated Universal Time) Economy and Mortgages Update The average rate for a conforming 30-year fixed is now in the low 5% range, a full 2% higher than just a year ago, yet still (we repeat) historically attractive. The unusually-rapid increase is already starting to shift the market away from the seller’s market that has been driving up home prices, with Realtor.com reporting an increase in the share of homes seeing price reductions from 5.6% last April to 6.9% this April. That said, the lower end of the market is still hyper-competitive in many markets where most sellers retain considerable pricing power. So, while you may soon see reports of median home prices starting to drop here and there, it doesn’t necessarily mean that the average starter home is getting less expensive! Where are rates headed? In terms of mortgage rates, 40-year high inflation and the Fed’s unwinding of mortgage-backed securities (MBS) purchased during the pandemic are driving everything. We’re seeing the effects of trillions of dolla... ### 5 Ways to Use Your Home Equity to Help Family Members Buy a Home URL: https://www.myerscapitalhawaii.com/news/5-ways-to-use-your-home-equity-to-help-family-members-buy-a-home Published: Wed Jun 01 2022 00:00:00 GMT+0000 (Coordinated Universal Time) With many Americans sitting on an increasing amount of home equity, some are now leveraging that asset to help younger generations of their family get into homes. Many families are watching their kids try to take on today’s daunting real estate market. Even with good income, it’s hard for a younger buyer to compete with all-cash offers and fix-and-flip investors. Rising rents, student debt, and inflation have all slowed down the process of building a large down payment. Indeed, the National Association of Realtors notes that close to 90% of home buyers under the age of 40 finance more than the traditional 80% of their home purchase. How, then, to apply your financial resources to help your kids get into their first home? Here are 5 great approaches: – A down payment gift from your equity . By tapping into equity, you can generate cash to make a large down payment gift. According to the National Association of Realtors, 23% of first-time buyers used gifted funds. Gifts are t... ### Mortgage Newsletter Summer 2022 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-summer-2022 Published: Tue May 31 2022 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news.  Click here . – Economy and Mortgages: Do Higher Rates Mean the End of Exploding Home Prices? – Home Equity is Way Up: Are You Taking Advantage of it? – Using Your Home Equity to Help Family Members Buy a Home   – 40-year Mortgage Loans: Pros and Cons – Private Mortgage Insurance: When to Remove it from a Loan? Copyright © 2022 Myers Capital Hawaii  ### New TV Commercials Focus on How We Help Clients Meet their Mortgage Goals URL: https://www.myerscapitalhawaii.com/news/new-tv-commercials-focus-on-how-we-help-clients-meet-their-mortgage-goals Published: Tue May 10 2022 00:00:00 GMT+0000 (Coordinated Universal Time) Myers Capital Hawaii is proud to release two new TV commercials that showcase how the residential and commercial mortgage company helps their clients achieve their real estate financing needs. The 30-second spots feature the theme, “Let’s see what we can do for you,” and include testimonials from actual clients with appearances by employees, including company principal Reed Myers.   The first TV spot features clients Meredith Ross, and Ronald and Sylvia Young. Ross, a paralegal, had a construction loan to build a home and now needed a regular mortgage, which usually has better rates and terms than construction financing. Myers Capital Hawaii helped Ross replace her construction loan with a 30-year, fixed-rate mortgage. She later refinanced the mortgage to a lower rate, enjoying reduced monthly payments. She then wanted to tap into her home’s equity and requested a cash-out refinance, using the funds to start a business with her son. Ronald Young is a local Realtor who has used Mye... ### Want to Increase Cash Flow and Save on Taxes? URL: https://www.myerscapitalhawaii.com/news/how-to-utilize-a-mortgage-for-tax-savings Published: Sun Mar 06 2022 00:00:00 GMT+0000 (Coordinated Universal Time) By Reed Myers, Principal Myers Capital Hawaii As we are now full swing in tax season, remember April 18th is this year’s tax deadline for most individuals. There are a few ways to use your mortgage to reduce your tax obligation, make renovations, or buy more real estate. One strategy is the Re-Amortizing, Cash-Out Method : – If you have a rental property, consider re-amortizing to a 30-year fixed rate to improve cash flow and tap into equity for renovations, purchasing of additional real estate, etc. – Although rates have been rising these past couple of months, we are still at historic lows compared to years past (see chart below). – If you took out a $300,000, 30 year fixed mortgage on your rental at 4.0% 7 years ago, your monthly payment is approximately $1,432, and you now owe $258,178. – With the dramatic increase in home values, you could take out a new $350,000, 30 year fixed loan at 4.0% and your monthly payment would increase by $238/month to $1,670/mon... ### Myers Capital Hawaii Expands to the Mainland URL: https://www.myerscapitalhawaii.com/news/myers-capital-hawaii-expands-to-the-mainland Published: Fri Mar 04 2022 00:00:00 GMT+0000 (Coordinated Universal Time) By Stephanie Salmons – Reporter,  Pacific Business News Published March 4, 2022 Myers Capital Hawaii, a locally-owned company offering residential and commercial mortgages, has expanded to the Mainland, opening a new branch in Virginia. Named Myers Capital Virginia, the branch is headed by manager Tara Weston, a senior mortgage advisor with more than eight years of residential and commercial lending experience. Weston, who began her mortgage career with Myers Capital Hawaii, is a graduate of Virginia Tech, and specializes in residential and commercial mortgage lending. According to the company, the new branch offers a range of mortgage programs for residential and commercial real estate, including traditional home purchases, fix and flip bridge loans, and home equity loans. “We have been looking to expand our mortgage services from Hawaii to the U.S. Mainland and Virginia was a top choice for us due to its robust housing and jobs market,” Reed Myers, Principal of Myers Capital Haw... ### Myers Capital Hawaii Opens New Virginia Branch URL: https://www.myerscapitalhawaii.com/news/myers-capital-hawaii-opens-new-virginia-branch Published: Tue Mar 01 2022 00:00:00 GMT+0000 (Coordinated Universal Time) March 1, 2022 Myers Capital Hawaii Opens New Virginia Branch Providing Residential and Commercial Mortgages HONOLULU – Myers Capital Hawaii, a locally-owned 24-year-old company offering residential and commercial mortgages, recently announced the opening of a new branch office in Virginia. Named Myers Capital Virginia, the branch is headed by manager Tara Weston, a Senior Mortgage Advisor with more than 8 years of residential and commercial lending experience. Myers Capital Virginia offers a wide range of mortgage programs for residential and commercial real estate, including traditional home purchases, fix and flip bridge loans, and home equity loans. “We have been looking to expand our mortgage services from Hawaii to the U.S. Mainland and Virginia was a top choice for us due to its robust housing and jobs market,” says Reed Myers, Principal of Myers Capital Hawaii and Myers Capital Virginia. “We are focused on helping borrowers with their real estate financing needs with a wide rang... ### How Inflation and Rising Rates Affect Buying Power URL: https://www.myerscapitalhawaii.com/news/how-inflation-and-rising-rates-affect-buying-power Published: Mon Feb 28 2022 00:00:00 GMT+0000 (Coordinated Universal Time) As we enter 2022, signals from the Fed and bond markets indicate that interest rates should continue their recent rise. After spending the better part of a year in record-low territory, the recent half-point run-up in rates feels like a shock to most. Still, we all knew this was coming. Expect rates to journey on upward towards their 10-year historical average of around 4%, which should tap the brakes on the awe-inspiring rate of home price appreciation. In 2022 we expect to support a growing share of purchase activity — home buyers seeking to buy their first home, upsize, downsize, or invest. The pace of new construction is quickening, so more new houses should gradually appear, giving homebuyers more options. “We see 2022 as a transition year, moving from a refinance market to a purchase market,” said Mike Fratantoni, Chief Economist for the Mortgage Bankers Association. “We are expecting both 2022 and 2023 to be record years for purchase originations.” Consumer Demand Drives E... ### Mortgage Newsletter Spring 2022 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-spring-2022 Published: Thu Feb 24 2022 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news.  Click here . – Economy & Mortgages: How Will Inflation and Rates Affect Buying Power? – Official 2022 Conforming Loan Limit Increase Exceeds Expectations – Work From Anywhere? Second Homes Still a Hot Commodity – Borrower-Friendly Changes Could Help Homebuyers: Desktop Appraisals and Rent History Considered – Hybrid ARM Pricing: An Advantage Worth Considering Copyright © 2022 Myers Capital Hawaii ### 4 Things to Consider Before Financing a Home Together Before Marriage URL: https://www.myerscapitalhawaii.com/news/4-things-to-consider-before-financing-a-home-together-before-marriage Published: Tue Feb 08 2022 00:00:00 GMT+0000 (Coordinated Universal Time) The National Association of Realtors reported recently that close to 10% of homebuyers in 2020 were unmarried couples. This may be because rising rents and low interest rates make homeownership financially more attractive than living together in a rented home or apartment. Buying property together prior to marriage, however, has challenges that smart couples tackle up front, even though it takes some of the romance out of making such a big commitment — especially the part where you talk about what happens if you break up or someone dies. Like any partnership, it’s critical to have a written agreement that spells out who is responsible for what today, and in the future. Having those tough conversations before buying the property will avoid a major headache should the relationship change. We recommend working with a real estate attorney (who we can recommend) to create a property agreement that anticipates the many possible eventualities. Some questions to think about: • What is th... ### 2022 Conforming Loan Limits URL: https://www.myerscapitalhawaii.com/news/2022-conforming-loan-limits Published: Wed Dec 01 2021 00:00:00 GMT+0000 (Coordinated Universal Time) The 2022 conforming limits for conventional mortgages were announced today by the Federal Housing Finance Agency (FHFA). Hawaii falls in a high-cost area and has a base loan limit that rose to nearly $1 million from the current $822,375. 2022 High-Cost Area Loan Limits – Hawaii Properties:   – One-unit property: $970,800 – Two-unit property: $1,243,050 – Three-unit property: $1,502,475 – Four-unit property: $1,867,275 These 2022 higher loan limits for Hawaii and other high-cost areas are set at 150% of the national conforming loan limit, which starts at $647,200. Loan limits are tied to median home prices and 2021 featured strong sales and rising prices. In fact, the average sales price topped $1 million for the first time in Hawaii history. It occurred in the month of August 2021, when the median price of a single-family home on Oahu reached $1,050,000. Higher loan limits allow borrowers to use conventional loans to make a purchase or refinance an existing... ### Rates Poised to Rise URL: https://www.myerscapitalhawaii.com/news/rates-poised-to-rise Published: Tue Nov 23 2021 00:00:00 GMT+0000 (Coordinated Universal Time) ECONOMY & MORTGAGES: Will Rates Stay Near Historical Lows? Inflation worries, strange employment trends, energy price increases, battles over mask mandates, and supply chain problems dominate the economic headlines. Housing, however, operates in its own world, and low inventory leading to higher prices continues to be the headline story. While some of this can be blamed on the pandemic (people sitting tight) and on problems with new construction (a lack of both workers and materials), the broader uptick in prices has been years in the making. Growing populations are intersecting with decades of under-construction, and the resulting price impact is textbook economics. This hits first-time buyers hardest. “With inventory at only 2.4 months’ supply, and median home prices increasing nationally at 13%, it was not surprising to see the first-time homebuyer share of the market drop again to 28% (from 31% last year),” said Mike Fratantoni, SVP and Chief Economist for the Mortgage Bankers ... ### Mortgage Newsletter – Winter 2021 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-winter-2021 Published: Thu Nov 18 2021 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news.  Click here . – Economy and Mortgages: Rates Poised to Rise. Will They Stay Near Historic Lows? – Early Action on Higher Conforming Loan Limits for 2022. What this means for borrowers.   – Could an Appraisal Gap Threaten Your Home Purchase? Find out how to deal with this issue. – Financing a Home Together Before Marriage? 5 Things to Consider First. – Pandemic Leads to Renewed Interest in Renovation. How to finance your project? Copyright © 2021 Myers Capital Hawaii ### Holiday Food Drive – November 2021 URL: https://www.myerscapitalhawaii.com/news/food-drive-november-2021 Published: Wed Nov 03 2021 00:00:00 GMT+0000 (Coordinated Universal Time) Myers Capital Hawaii (MCH) is holding a food drive throughout the month of November to collect non-perishable food to help Hawaii’s needy families. The company has partnered with the Hawaii Foodbank to host an onsite and virtual food drive. Did you know that 1 in 4 children are struggling with hunger in Hawaii, according to the Hawaii Foodbank? The COVID-19 pandemic has also increased food insecurity (the inability to provide sufficient food to all household members) in Hawaii by a whopping 50%. This food drive is an opportunity to help and give back to Hawaii communities in which we do business and call home. Our goal is to collect a combined total of $5,000 in monetary and food donations. (Each non-perishable food can/item will be counted as $2 towards this goal.) The company will match the first $300 in donations. HOW TO DONATE? It’s easy to participate. Donations are accepted through November 30, 2021: Online – Monetary Donations – Visit the MCH-Hawaii Foodbank site or click ... ### Should You Retain or Pay Off Your Mortgage in Retirement? URL: https://www.myerscapitalhawaii.com/news/should-you-retain-or-pay-off-your-mortgage-in-retirement Published: Fri Sep 10 2021 00:00:00 GMT+0000 (Coordinated Universal Time) Should you keep a mortgage in retirement? The traditional answer has always been “pay it off and retire debt-free!” In 2021, though, the real advice is “it depends, and you have to do the math!” If your home equity is most of your retirement fund, and you can’t afford your current mortgage payments, you may have a few options: • If your mortgage rate is above 3.5%, a refinance could result in lower payments that you can afford, and allow you to stay in the home. • You could consider a reverse mortgage loan, which allows you to stay in the home and receive monthly cash payments or use it as a line of credit. Repayment is not due until the home is sold, the last borrower passes away or permanently leaves the home. The two most popular are the HECM loan (Home Equity Conversion Mortgage, insured by the FHA) and, for high-value homes, jumbo or proprietary reverse mortgages. • Alternately, you could sell the property, downsizing to a home and mortgage you can afford, or simply sell and live ... ### Mortgage Newsletter – Fall 2021 URL: https://www.myerscapitalhawaii.com/news/mortgage-newsletter-fall-2021 Published: Wed Sep 01 2021 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news. Click here . – Mortgage Outlook in a Long COVID Economy. What’s next? – The Power of Pre-Approval. Why it’s important in a sellers market? – Ins and Outs of Second Home Financing. – Should You Retain or Pay Off Your Mortgage in Retirement? – Options for those Exiting Mortgage Forbearance.   Copyright © 2021 Myers Capital Hawaii ### Jumbo Loans are Back on Track in a Big Way URL: https://www.myerscapitalhawaii.com/news/jumbo-loans-are-back-in-a-big-way Published: Fri Jun 18 2021 00:00:00 GMT+0000 (Coordinated Universal Time) For clients seeking to buy larger homes, and even for those hoping to buy a modest home in expensive markets, we have good news. Jumbo loans have returned as a viable option. If you need a mortgage larger than conventional loan limits ($822,375 in Hawaii, 2021) chances are now good we can get you the financing you need without paying a whole lot more in rate compared to a conventional loan. Jumbos for High-Credit Borrowers Offer Attractive Rates Lenders see the end of the pandemic tunnel, and their core audience for Jumbo loans actually came through the crisis in reasonable shape. These prospective borrowers stayed employed and had fewer expenses than normal. This allowed many to build assets. Now more are ready to buy. As such, the marketplace for these larger loans has grown. A persistent myth about Jumbo loans is that they are pricey. Not so. A borrower with good credit and a 20% down payment can currently find Jumbo 30-year loan rates only 10-20 basis points (0.1%-0.2%) higher than... ### Quarterly Newsletter – Summer 2021 URL: https://www.myerscapitalhawaii.com/news/quarterly-newsletter-summer-2021 Published: Tue May 25 2021 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news. Click here . – Low Rates + Tight Inventory – How high can home prices climb? – 5 Key VA Loan Advantages – Jumbo Loans are Back BIG – Down payments from just 10% – Outbid on a new home? Consider a renovation project loan. – When Sellers Become Buyers – How to handle low purchase inventory when selling   Copyright © 2021 Myers Capital Hawaii ### 5 VA Loan Myths Busted URL: https://www.myerscapitalhawaii.com/news/5-va-loan-myths-busted Published: Tue May 25 2021 00:00:00 GMT+0000 (Coordinated Universal Time) Low housing inventory means homeowners are flooded with multiple offers. With the VA Loan, though, veterans and active duty servicemembers have benefits that can give you an edge. One myth about VA loans is that the appraisal and closing process is tougher, but it’s not really true. The entire VA loan timetable is generally on par with conventional loans, and can be done in as little as 30 days, making it similar to conventional fast-close programs. The appraisal process takes about the same amount of time as a regular appraisal. The main difference is that fixer-uppers are not allowed – the home must be in safe, sound, and sanitary condition. It helps to choose a REALTOR® who has solid experience helping military clients, as they’ll know which homes for sale today to avoid. We work with several, so ask us for a referral! You may have heard that VA loans have higher credit standards. Again, not true. The bottom credit range for most VA lenders is actually much more lenient than that of... ### Open Financial Doors, Opportunities with a Fixed-Rate Home Equity Loan URL: https://www.myerscapitalhawaii.com/news/fixed-rate-home-equity-loan-opens-financial-doors-opportunities Published: Mon Mar 22 2021 00:00:00 GMT+0000 (Coordinated Universal Time) One of the main benefits of homeownership is the ability to grow your home’s equity and utilize it for any of your financial needs. Equity is the difference between a home’s value and outstanding mortgage balance. Rising home prices in Hawaii are contributing to an increase in home equity. With low interest rates and higher equity levels, it’s an opportune time for homeowners to consider a home equity loan. Similar to a regular mortgage, home equity loans usually have a fixed interest rate and term, keeping monthly payments predictable over a set number of years, versus a variable-rate Home Equity Line of Credit (HELOC). Borrowers receive a lump sum of cash at closing that they can use to cover big-ticket items including home renovations, repairs, or even to help purchase additional real estate. “With rates for home equity loans in the sub-2 percent range, now is the perfect time to address present or future needs,” says Reed Myers, Principal of Myers Capital Hawaii, an award-winning r... ### Free Tax Return Analysis URL: https://www.myerscapitalhawaii.com/news/free-tax-return-analysis Published: Mon Mar 08 2021 00:00:00 GMT+0000 (Coordinated Universal Time) Don’t Get Disqualified Due to Your Tax Returns!   If you’re looking to make a home purchase, refinance, apply for a home equity or HELOC, then don’t miss this no-cost opportunity to get a loan you may need now and in the future. How income, expenses, and deductions are declared on tax returns can affect a borrower’s mortgage application. We can help provide a free tax return analysis to help better position you to qualify for a home loan. Is This You? Here are a few commonly overlooked scenarios that can make it harder to qualify for the loan you need: – Thinking of refinancing or purchasing later this year or next?   – Want to take out a fixed-rate home equity loan or HELOC? – Income changing due to new job or retirement? – Have or want to purchase an investment property?   – Self-employed/business owner? – A W-2 employee who switches to self-employed or business owner? – Business owner who changes company type to an LLC? –... ### Quarterly Newsletter – Spring 2021 URL: https://www.myerscapitalhawaii.com/news/quarterly-newsletter-spring-2021 Published: Wed Feb 17 2021 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news. Click here . – Where are rates headed in 2021? – Changes to come to Qualified Mortgages and how they affect borrowers. – Demand grows for cash-out refinances as home prices rise and rates stay low.   – Conforming loan limits increase for 2021. – Buying in a tight market? Your financing strategy can make the difference. Copyright © 2021 Myers Capital Hawaii ### 5 Most Important Reasons Why Refinancing Makes Sense Today URL: https://www.myerscapitalhawaii.com/news/5-most-important-reasons-why-refinancing-makes-sense-today Published: Sat Feb 13 2021 00:00:00 GMT+0000 (Coordinated Universal Time) For many homeowners, their largest debt obligation and monthly expense is their mortgage – especially in Hawaii. Because of this, it makes financial sense to dedicate attention to the type of mortgage you have, and your interest rate. Today, rates are at one of the lowest points we have seen in history. Anybody with a mortgage rate of 3% or higher on a 30-year fixed, or 2.75% or higher on a 15-year fixed can likely benefit from a rate drop. Even slight interest rate drops of 0.75%, 0.5% or even 0.25% on larger loan sizes ($200k plus) can make a considerable difference in lowering your monthly payment, paying off your loan years earlier, or unlocking equity for other purposes. Mortgage refinancing involves replacing your current loan with a new loan. Like the original mortgage, borrowers need to undergo an application process and meet certain qualifications, including income, credit, debt and asset verification. During these challenging times, it is even more important to seek the... ### Veterans: Now’s the Time to Refinance Your VA Loan URL: https://www.myerscapitalhawaii.com/news/veterans-nows-the-time-to-refinance-your-va-loan Published: Thu Apr 30 2020 00:00:00 GMT+0000 (Coordinated Universal Time) Hawaii’s high mortgage debt Pacific Business News reports that Hawaii has the third-highest average mortgage debt in the country, at $344,819, according to a 2019 Experian report. Only the District of Columbia ($418,555) and California ($363,537) had more mortgage debt per borrower as of 2019. In comparison, the national average mortgage debt nationwide was $202,284, held at an average interest rate of 4.37%. Looking at the top 100 major metropolitan statistical areas, Honolulu residents also rank very high, with an average mortgage debt per borrower of $365,288. That represents an increase of 3.3% compared to the prior year, according to Experian’s data.  Naturally, that translates to high mortgage payments: According to U.S. Census data, Hawaii’s average monthly payment, $1,747, is second only to Washington D.C.’s $1784, and outstrips California’s average payment of $1,642.00. Take advantage of low interest rates Because of our high mortgage balances here in Hawaii, we als... ### Quarterly Newsletter – Spring 2019 URL: https://www.myerscapitalhawaii.com/news/quarterly-newsletter-spring-2019 Published: Fri Feb 01 2019 00:00:00 GMT+0000 (Coordinated Universal Time) Get the latest mortgage industry news.  Click here . – Declining mortgage rates – Financing a duplex as your first real estate investment – Millennials are active homebuyers – Prequalified versus preapproved. Confused about the difference? – House flipping is back Copyright © 2019 Myers Capital Hawaii ### 8 Things You Should Know About Homebuying URL: https://www.myerscapitalhawaii.com/news/8-things-you-should-know-about-homebuying Published: Mon Dec 10 2018 00:00:00 GMT+0000 (Coordinated Universal Time) It’s possible to obtain a mortgage with a credit score in the mid-500s. However, a good goal to have is 700 plus. Typically installment debt (personal loans, car loans) looks better than revolving debt (credit cards), but if you do have revolving debt, try to pay attention to the balance in relation to the limit. Finding the right balance between saving money and paying debt will be different for everyone’s situation. Things to consider are: Minimum down payment required for the price point you are looking at. The amount of total debt that you currently have The minimum monthly payments required on these debts. As a rule of thumb, if you are looking to buy a home, you shouldn’t switch from being a w2 employee to being self-employed. However, vice versa is okay. If you are self-employed, generally your income after all expenses within the past 2 years will be taken into account. Typically you must be self-employed for at least 2 years however it is possible to obtain a mortgage with onl... ### Own This Beautiful Kaimalino Home For Zero to $16,350 Down! URL: https://www.myerscapitalhawaii.com/news/own-this-beautiful-kaimalino-home-for-zero-to-dollar16350-down Published: Wed Aug 08 2018 00:00:00 GMT+0000 (Coordinated Universal Time) 87-1038 KAIAMEKALA ST. LIST PRICE: $545,000 The principal and interest payment does not include taxes and insurance premiums, which will result in a higher actual monthly payment. Rates current as of 8/03/18 and subject to change. Requirements and restrictions apply. Company NMLS # 999782.   Come home to majestic views everyday and enjoy this well cared-for 3-bdrm 2-bath cul-de-sac home in newly developed Kaimalino. Spacious yard and patio for an oasis of outdoor living. Enclosed side yard for gardening and a shed for tools and storage. Outdoor shower with privacy after a day at the beach. Adjacent to a wide-open field. Security patrols, community pool, parks, hiking and walking trails, general store and beauty salon all nearby. Home is newly painted, plantation shutters, walk-in closet, double sink in master bath, long driveway for multi-vehicles, enclosed garage with workbench. MLS# 201820768 ### Hawaii Kai Marina & Mountain Views in Your Backyard URL: https://www.myerscapitalhawaii.com/news/hawaii-kai-marina-and-mountain-views-in-your-backyard Published: Fri Jun 22 2018 00:00:00 GMT+0000 (Coordinated Universal Time) 6370 Hawaii Kai Drive #16 LIST PRICE: $888,000 The principal and interest payment does not include taxes and insurance premiums, which will result in a higher actual monthly payment. Rates current as of 6/22/18 and subject to change. Requirements and restrictions apply. Company NMLS # 999782.   Enjoy marina and mountain views, and cool breezes offered by this well maintained 3 bedroom/2.5 bath townhome at the Moorings in Hawaii Kai. Features include fresh interior paint, an upgraded kitchen and bathrooms, private boat dock and a large waterfront lanai, perfect for indoor/outdoor entertaining. Conveniently located near beaches, shopping, schools, entertainment and restaurants. Hurry, this won’t last long! ### Retirement Benefits Loan URL: https://www.myerscapitalhawaii.com/news/retirement-benefits-loan Published: Wed Jun 06 2018 00:00:00 GMT+0000 (Coordinated Universal Time) ### Diamond Head & Ocean Views Only $14,850 Down! URL: https://www.myerscapitalhawaii.com/news/diamond-head-and-ocean-views-only-dollar14850-down Published: Wed Jun 06 2018 00:00:00 GMT+0000 (Coordinated Universal Time) 400 Hobron Lane #3407 You must see this elegant, high floor fully upgraded unit in the popular Villa on Eaton Square. Completely gutted and remodeled in 2012 with high quality finishes and attention to detail. Features included granite counters with easy clean brushed metal finished backsplash, upgraded cabinetry, stainless steel appliances, luxury vinyl flooring in kitchen and bath, custom built in Murphy bed and office area, and a walk in shower. Popcorn ceiling was removed. Fabulous ocean and Waikiki views from this preferred odd number unit create a soothing vista to enjoy your morning coffee or evening cocktail on your spacious covered lanai. MLS # 201813726. LIST PRICE: $495,000 The principal and interest payment does not include taxes and insurance premiums, which will result in a higher actual monthly payment. Rates current as off 6/05/18 and subject to change. Requirements and restrictions apply. Company NMLS # 999782.   ### DIAMOND HEAD VIEWS IN WAIKIKI FOR AS LITTLE AS $17,340 DOWN! URL: https://www.myerscapitalhawaii.com/news/diamond-head-views-in-waikiki-for-as-little-as-dollar17340-down Published: Thu May 10 2018 00:00:00 GMT+0000 (Coordinated Universal Time) 1860 Ala Moana Blvd #1505 Come see this rarely available high floor unit in the desirable Wailana at Waikiki. The large, open lanai overlooking Ft DeRussy Park with Diamond Head and ocean views makes a fabulous venue for your morning coffee or and evening cocktail. Kitchen features solid surface counters and stainless steel appliances with high quality vinyl plank flooring. Ready to move in with new carpet in living/dining area and master bedroom. Located above the iconic Wailana Coffee House and close to beaches, parks, shopping and dining. Fee simple units are rarely available in this building. Why consider leasehold when an affordable alternative fee simple unit is available. Schedule your showing today. Priced below tax assessed value. MLS # 201812429. Fee-Simple. LIST PRICE: $578,000 The principal and interest payment does not include taxes and insurance premiums, which will result in a higher actual monthly payment. Rates current as off 5/11/18 and subject to change. Requirements... ### 3% Down Gets You Into a Newly Remodeled Home in Kaneohe URL: https://www.myerscapitalhawaii.com/news/3-down-gets-you-into-a-newly-remodeled-home-in-kaneohe Published: Tue Apr 17 2018 00:00:00 GMT+0000 (Coordinated Universal Time) 45-590A Keaahala Rd BEDROOMS – 3          BATHROOMS – 1          SQ. FT. – 780          TAXES – $168 Tastefully remodeled 3/1, SFH in the heart of Kaneohe. Koolau views from this convenient location, close to Windward CC, Windward Mall, movie theaters, and Kam Hwy/H3/Likelike. Exterior updates include driveway, fence, renewed roof with polyester fabric and white finish coat, fresh paint, new window jalousies/screens, water heater, washer/dryer. Interior updates include electrical and plumbing, new ceiling fans, lights, outlets, luxury vinyl tile flooring throughout, white oak cabinets, quartz countertops, stainless steel fingerprint-free appliances, and stainless steel double bowl sink/faucet. Bathroom updates include new cultured marble shower, toilet, and pedestal sink and fixtures. Relax in the backyard under a mature mango tree. No maintenance fees and not a CPR. MLS # 201807915 LIST ... ### Own This Home For As Little As $0 to $15,370 Down! URL: https://www.myerscapitalhawaii.com/news/own-this-home-for-as-little-as-dollar0-to-dollar15370-down Published: Fri Apr 13 2018 00:00:00 GMT+0000 (Coordinated Universal Time) ### Veterans, Own In Town for ZERO Down! Non-Veterans, Only $11,500 Down! URL: https://www.myerscapitalhawaii.com/news/veterans-own-in-town-for-zero-down-non-veterans-only-dollar11500-down Published: Thu Apr 05 2018 00:00:00 GMT+0000 (Coordinated Universal Time) Click Here to download our flyer. ### Potential Rental Income of $6,700/Month or MORE! URL: https://www.myerscapitalhawaii.com/news/potential-rental-income-of-dollar6700month-or-more Published: Fri Mar 30 2018 00:00:00 GMT+0000 (Coordinated Universal Time) Click Here to download our flyer. ### Own in Keolu Hills for as little as 5% Down! URL: https://www.myerscapitalhawaii.com/news/own-in-keolu-hills-for-as-little-as-5-down Published: Fri Mar 23 2018 00:00:00 GMT+0000 (Coordinated Universal Time) Click Here to download our flyer. ### Winter 2018 Quarterly Newsletter URL: https://www.myerscapitalhawaii.com/news/winter-2018-quarterly-newsletter Published: Wed Mar 14 2018 00:00:00 GMT+0000 (Coordinated Universal Time) Click Here to take a look at our Winter Newsletter for updates in the Mortgage Industry. ### New Listing: 904 Lunalilo Street #2 URL: https://www.myerscapitalhawaii.com/news/new-listing-904-lunalilo-street-2 Published: Fri Mar 09 2018 00:00:00 GMT+0000 (Coordinated Universal Time) Click Here to download our flyer. ### Tax Changes: 9 Questions to Ask Your Tax Advisor URL: https://www.myerscapitalhawaii.com/news/tax-changes-9-questions-to-ask-your-tax-advisor Published: Thu Jan 25 2018 00:00:00 GMT+0000 (Coordinated Universal Time) Source: https://www.schwab.com/resource-center/insights/content/tax-changes-9-questions-to-ask-your-advisor ### Fall 2017 Quarterly Newsletter URL: https://www.myerscapitalhawaii.com/news/fall-2017-quarterly-newsletter Published: Tue Jan 09 2018 00:00:00 GMT+0000 (Coordinated Universal Time) Click Here to take a look at our Fall Newsletter for updates in the Mortgage Industry. ### Expert Advice: Federal Reserve Raised Rates This Week. Is your Home Equity at risk? URL: https://www.myerscapitalhawaii.com/news/expert-advice-federal-reserve-raised-rates-this-week-is-your-home-equity-at-risk Published: Fri Dec 15 2017 00:00:00 GMT+0000 (Coordinated Universal Time) Expert Advice: Federal Reserve Raised Rates This Week. Is your Home Equity at risk? December 15, 2017 Share Facebook Twitter Linkedin ### Hawaii Real Estate: Market Strategies for Buyers & Sellers Part II URL: https://www.myerscapitalhawaii.com/news/hawaii-real-estate-market-strategies-for-buyers-and-sellers-part-ii Published: Thu Aug 10 2017 00:00:00 GMT+0000 (Coordinated Universal Time) Hawaii Real Estate: Market Strategies for Buyers & Sellers Part II August 10, 2017 Share Facebook Twitter Linkedin ### Purchase Your Home With 1% Down URL: https://www.myerscapitalhawaii.com/news/purchase-your-home-with-1-down Published: Wed Mar 29 2017 00:00:00 GMT+0000 (Coordinated Universal Time) As one of the first independent mortgage companies in the country to offer a 1% down conventional loan program, we are incredibly proud to bring this product to our local market.   This program will have tremendous effects on the ability for potential homeowners to purchase property with less money down, while gaining an immediate equity boost that can help build true real estate wealth. This program is designed for homebuyers who have taken good care of their credit, have a strong track record of employment and income, but do not have the typical 5%-20% down payment required by most loan programs.   Until now, one of the few low down payment options (for non-veterans) was the FHA loan program.  The standard FHA program however, typically has  large upfront mortgage insurance costs along with monthly mortgage insurance throughout the life of the loan. This will add thousands of dollars in closing costs during the acquisition and hundreds of dollars to your monthly p... ### Interest Rates on the Rise. Fix Your Home. Fix Your Rate. URL: https://www.myerscapitalhawaii.com/news/interest-rates-on-the-rise-fix-your-home-fix-your-rate Published: Fri Dec 16 2016 00:00:00 GMT+0000 (Coordinated Universal Time) On Wednesday, December 14th, Janet Yellen, Chairwoman of the Federal Reserve announced the raising of the benchmark short term interest rate by another .25%.  This brings the total increase of .5% in one years’ time with more expected for 2017. The raising of this benchmark can directly affect Home Equity Lines of Credit(HELOCS), auto loans, credit cards and even student loans.  For homeowners exploring a HELOC, this should be another warning sound.  HELOCS typically have an introductory teaser rate period which can be very enticing. However, once your teaser rate period has expired, your rate and payment will most certainly increase, and this latest decision by the Feds will only exaggerate that effect.  Unless you have the ability to pay off the funds you have used in a couple of years, you could be setting yourself up for a very unfavorable position.   Today, most HELOCS out of their teaser period will have rates of 4.75%-5% or more, with typically no ceilin... ### Lender Earns Reputation for Personalized Service, Low Rates URL: https://www.myerscapitalhawaii.com/news/lender-earns-reputation-for-personalized-service-low-rates Published: Fri Oct 14 2016 00:00:00 GMT+0000 (Coordinated Universal Time) Lender Earns Reputation for Personalized Service, Low Rates October 14, 2016 Share Facebook Twitter Linkedin ### Mortgage Rates In Perspective URL: https://www.myerscapitalhawaii.com/news/mortgage-rates-in-perspective Published: Wed Nov 26 2014 00:00:00 GMT+0000 (Coordinated Universal Time) Mortgage Rates In Perspective November 26, 2014 Share Facebook Twitter Linkedin ### Perfect Time to Tap into Equity URL: https://www.myerscapitalhawaii.com/news/perfect-time-to-tap-into-equity Published: Mon Jun 16 2014 00:00:00 GMT+0000 (Coordinated Universal Time) Perfect Time to Tap into Equity June 16, 2014 Share Facebook Twitter Linkedin ### How I…Decided to move back to Hawaii to expand the family business URL: https://www.myerscapitalhawaii.com/news/how-idecided-to-move-back-to-hawaii-to-expand-the-family-business Published: Fri Nov 29 2013 00:00:00 GMT+0000 (Coordinated Universal Time) How I…Decided to move back to Hawaii to expand the family business November 29, 2013 Share Facebook Twitter Linkedin