Many Benefits for Choosing a Preferred Condo Project Lender
Honolulu HomeLoans is a preferred lender for numerous real estate projects throughout Oahu, including many of the new condominiums in Kakaako. We are also an approved reserve unit lender for many developments.
There are numerous advantages for using a preferred project lender for a condo purchase. The lender will have the most knowledge about available financing options for a specific condo. The lender will also have direct communication with the developer on confirmation of closing dates and deadlines. Our loan officers work with the sales team at the project sales office and are available on-site to help you with financing scenarios and loan prequalification, positioning you to better qualify for a mortgage.
We Offer Long-Term Extended Lock Programs
Another benefit of working with a preferred lender is extended lock programs. For many of these projects, we help protect condominium buyers from rising interest rates by offering extended interest rate lock options while you are awaiting completion of the construction of the project. In addition, if interest rates drop near the completion of the project, a buyer is offered an option to “float down” and select the lower interest rate.
We have successfully closed hundreds of mortgage loans for these new condo projects: 801 South St, 801 South St Building B, Symphony Honolulu, The Collection, and Holomua.
More details are available in an article written by one of our loan managers. Click here.
Our project loan officers understand that all buyers need flexible loan solutions and can find the right loan program for you. Contact us for more details.