Mortgage Refinancing Help: Hawaii

“If you have bad credit, find a lender who is willing to work with you and offer you reasonable loan terms. ”

Mortgage Refinancing Help : Business: Financial Services: Banking Services: Credit Unions: Regional: United States : Hawaii (9)

Almost 30 million Americans qualify for a VA Loan. With a VA Loan, you can qualify for a VA Streamline Refinance. You may also be able to refinance your home with an FHA Streamline refinance.

See also:

Hawaii Community Federal Credit Union »
Kealakekua. Serving North and South Kona and North Kohala communities on the Big Island of Hawaii.

Hawaiian Tel Employees Federal Credit Union »
Honolulu. Serves those who live, work in, or go to school in and businesses and other legal entities located on the Island of Oahu.

Aloha Pacific Federal Credit Union »
Credit union serving employees and family members of the city and county of Honolulu.

Ka`u Federal Credit Union »
Serves all the residents and workers of Pahala, Na'alehu and Ocean View, Hawaii.

Credit Union of Hawaii »
Hilo. Individuals living or working within the boundaries of the cities of Hilo and Waikoloa.

Hawaii Central Credit Union »
Honolulu. Membership is open to select employee groups in Hawaii.

Honolulu Federal Employees FCU »
Honolulu. Serving select employee groups and organizations.

Windward Community Federal Credit Union »
Features online calculators, mortgage information, and checking account rates.

Hawaii State Federal Credit Union »
Honolulu. Serving employees of the Hawaii state government.

Make sure that your original mortgage does not have a pre-payment penalty or early payoff penalty of any kind. Sometimes people will get into their mortgage with the mortgage having a pre-payment penalty and they will not even know about it. Pre-payment penalties usually range from 6 months to 3 years with a penalty for an early payoff. The penalty is usually about the amount of 6 months worth of your mortgage loan interest, but this varies. You would have to be able to have some significant payment and interest savings on your refinance loan to justify refinancing a mortgage loan with a pre-payment penalty.

Weigh the costs carefully of how long you will be staying in your home vs. how much of a savings you will be getting in a refinance. Make sure you include closing costs in your decision.

If you have a mortgage, you should keep an eye on rates-especially if you have an adjustable rate mortgage. Getting locked in at a lower, fixed rate can save you hundreds, possibly even thousands, of dollars over the life of your loan.

If you are making payments on a long term loan, say, 30 year mortgage for the past 10 to 20 years, then refinancing to another 30 year loan will not be a good option as it may increase your overall payment.