Top 5 FHA Lenders in Hawaii 2019
If you’re interested in obtaining a home loan in the state of Hawaii, you have quite a few options to choose from. Right now, the Aloha State has more than 1.4 million residents, putting it right behind Idaho as the country’s 40th most populous state. Currently, mortgage rates in the U.S. are still incredibly low, so if you’re thinking of buying a home in Hawaii, this could be an excellent time. Home values in Hawaii rose by a substantial 5.5% percent between December 2017 and December 2018, and are estimated to rise by another 7.3% in the coming year, so you might want to consider buying a home before prices get even higher.
With the Hawaii housing market still red hot, the smartest home buyers are doing everything they can to cut costs during the home purchase process-- and that starts with getting a great home loan. And, since FHA loans offer low-interest rates, down payments as little as 3.5%, and an ultra-low 580 credit score requirement, they’re often some of the most desirable loans for home buyers who want to save serious cash.
In this article, we’ll review the top FHA lenders in Hawaii and how they can help guide you on your quest to home ownership.
2019 Hawaii FHA Lender Best Picks
Best for First Time Home Buyers: loanDepot
Best Online Experience: Quicken Loans
Best Local Lender: Axia Home Loans
Best Face-to-Face Experience: Ohana First Mortgage
Best Overall Performance: Pacific Rim Mortgage
#1 Hawaii FHA Lender: Axia Home Loans
As one of the highest ranked mortgage brokerages in Hawaii, the team Axia Home Loans is dedicated to promoting home ownership among Hawaii residents.
Axia Home Loans is particularly renowned for its technological prowess-- with the Axia app, borrowers can send all their documentation to their lender with just a few clicks. Like many other FHA lenders, Axia also offers USDA, VA, and jumbo loans, with a particular specialty in Fannie Mae HomePath loans.
#2 Hawaii FHA Lender: Loan Depot
Since its inception back in 2010, Loan Depot has striven to become one of the best FHA lenders on the market and has established a particularly strong foothold in the state of Hawaii. The company surpassed $110 billion in funding in 2017 while still maintaining near-perfect customer satisfaction rates. In fact, according to Lending Tree statistics, an amazing 91% of Loan Depot customers would recommend the service to others. With over 1,700 licensed loan officers and 180+ local locations across the country, Loan Depot is positioning itself to be a lending powerhouse for both online and in-person borrowers for years to come.
#3 Hawaii FHA Lender: Ohana First Mortgage
Located in the center of Honolulu, the state capital, Ohana First Mortgage is a truly local lender-- plus, you’re likely to get a lot of one-on-one customer service since it’s a one-man shop. Founded by loan broker Gary Rosenberg, Ohana First Mortgage is dedicated to providing a once-in-a-lifetime customer experience, whether you decide to get an FHA loan or any other kind of mortgage.
#4 Hawaii FHA Lender: Pacific Rim Mortgage
Pacific Rim Mortgage is consistently one of the highest ranked mortgage lenders in the Aloha State-- and for a very good reason. Their entire business is dedicated to their clients-- and, if you read their website, they’ll even say that “Congratulations, you’re now a homeowner” is their favorite five-word phrase on Earth. In addition, they emphasize the fact that they’re committed to taking the stress out of the home purchase process-- which is fantastic since the process can be pretty stressful. Located in Waimalu, in Honolulu County, Pacific Rim Mortgage was founded in 2005 and has helped clients for nearly 15 years.
In addition to FHA loans, the company’s team also has significant expertise in USDA and VA loans, with particular experience in refinancing. Plus, unlike a lot of smaller lenders, they offer a secure online mortgage application to make things especially easy for potential borrowers.
#5 Hawaii FHA Lender: Quicken Loans
In the last decade, Quicken Loans has grown to truly dominate the online mortgage space. In January 2018, Quicken Loans became the largest retail mortgage lender in the United States. Today, Quicken Loans is known for its incredibly efficient online mortgage application and qualification platforms, which allow borrowers to enter all the appropriate information and documentation in just minutes.
While Quicken Loans is active in all 50 states, it is especially popular in Hawaii, where many borrowers have used it to get FHA loans. Despite this, Quicken Loans isn’t big on having a lot of small, in-person offices where a borrower can look a mortgage broker in the eye. While that may not be an issue for most people, some individuals (including many older people) crave that in-person connection, and they simply won’t be able to get it with Quicken Loans.
Shop Around Before You Get a Hawaii FHA Loan
Our picks for the best FHA lenders in New York may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, and sometimes the best mortgage terms can be found in the most obscure places. As a home buyer, regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal home loan that comes with the terms and affordability that best suits any particular financial situation.
While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best FHA lender in your area, don't hesitate to contact a home.loans mortgage expert!