When you hear the word Hawaii, several vivid images pop into mind. Massive volcanoes, exotic tropical fruits, and slender hula dancers - these are only some of the things Hawaii is known for. In the past, strong industries in Hawaii included whaling and sugarcane and pineapple production. Since Hawaii became a state in 1959, however, tourism has been the island's largest industry. Hawaii is internationally recognized as one of the prettiest little places on the planet. In addition, the state's housing industry has also remained solid. If you need a helping hand in securing a home of your own, you should first familiarize yourself with equity Hawaii home loan rates.
What Is the Present Housing Situation in Hawaii?
The state is now enjoying low interest rates. This has made houses in Hawaii very affordable. Reasonably priced properties include first, second, and vacation homes. Tourists flock to Hawaii for its beaches and laid-back culture. The same reason two reasons influence them to stay. Additionally, it doesn't hurt that Hawaii has one of the cheapest real estate markets in the country.
Who Are Offering Various Equity Hawaii Home Loans?
Several banks, such as the Bank of Hawaii, offer equity Hawaii home loans. Their Bankoh Home Equity Loan includes several attractive features. For example:
o Loans that can range in value from $10,000 to $500,000
o Monthly payments of fixed amounts
o Terms that are not very rigid
o Absence of mortgage points (one mortgage point equals 1% of a loan)
What Is An Example of a $30,000 Equity Hawaii Home Loan?
Consider a home equity loan that is worth $30,000. This amount is set based on the value of the homeowner's property. Also, the interest is deductible, or may consist of excess funds. If you take out a $30,000 home equity loan, you pay about $600 each month, for as long as the loan is owed.
What Are Some Actual Equity Hawaii Home Loan Rates?
The average equity Hawaii home loan rate has not changed much throughout the region, particularly during the past half year. As of May 11, 2007, actual bank rates are as follows:
First Hawaiian Bank - 8.740%
Discover Home Loans - 8.000%
American Savings - 7.625%
Hawaii USA FCU - 7.250%
Central Pacific Bank - 7.250%
Bank of Hawaii - 7.250%
Bank of Internet USA - 7.175%
Hawaii State FCU - 6.750%
How Can You Learn More about Equity Hawaii Home Loan Rates?
In looking for equity Hawaii home loan rates, the Internet can be your best friend. All you have to do is type the keywords "equity Hawaii home loan rate" into a browser to get a quick listing of companies offering Hawaii home loans with various rates.
At present, economic experts are uncertain how low or high interest rates could go. America's housing industry is as volatile as gas. However, keeping tabs of the equity Hawaii home loan rates will certainly allow you to stay atop the state's housing industry wave.
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