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The USDA Rural Housing Loan provides that “Ray of Hope” for many homebuyers, and recent changes make this Zero Down Payment Loan even better.

It turns out that now may be one of the best times ever to purchase a home in Hawaii. At a time when some realtors think that house prices may have bottomed out and may begin to increase again a little-known government insured loan recently received significant changes that now make it so more people will qualify for the loan.

Called by many industry experts as the “best zero down payment loan available” it is more technically known as the Rural Housing Guaranty Loan. It provides 100% financing to qualified buyers with a low 30 year fixed rate. The “RD Loan” (Rural Development Loan), as it is sometimes called is insured by the Department of Agriculture.

Pacific One Mortgage, one of the few mortgage brokers in Hawaii who is considered an expert on the RD Loan has been providing their clients with this loan for over ten years. We work directly with the representative from the Dept. of Agriculture when there are questions on a loan which helps greatly with difficult loans. Plus we place these loans with the largest RD Lender in the United States which allows for excellent rates for our clients and we work directly with the underwriter if we need to.

The Department of Agriculture recently raised the income limits for potential buyers of homes which causes substantially more people to qualify for the loan.

There is no minimum credit score required for the RD Loan. And now with the greater income limits, even more people can qualify for the loan. We see this as a huge benefit for buyers in Hawaii. With low prices right now and the new expanded loan guidelines, this is an excellent time to buy a home. Rates are still great and with no monthly fee for mortgage insurance, the monthly payment for the RD Loan typically offers the lowest payment of any loan available that has little or no down payment. It’s even better than FHA in most cases.

The RD Loan works well on all the Islands including Oahu, Maui, and the Big Island. There are some geographic restrictions to the loan hence the reference to Rural Housing.

To learn more about the loan and to see if the home you are interested in is located in an RD area, you can call me at 479-2427 or my email address is Marcia@HawaiiLoan.com for any questions you have about the RD Loan.

International Commercial and Residential Funds

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Extremely unique and attractive financing available for investors from international sources. Our international residential funds have several currency options to choose from, some with extremely low rates. Additional features of these loans include; purchase, rate and term or cash-out refinance available, 75%LTV max, nonowner occupied only, 1-4 units, no prepayment penalty, rate is 3 month adjustable tied to LIBOR, no credit report pulled, full documentation of income only.
Our commercial funds include products to 100%LTV debt funding, including plans that require $1Billion minimum to those that only require $1million or less minimum; the source of these funds ranges from US teamster union pension funds, to funds from Dubai, Europeon banks, and other private investors.
Please contact me for additional information.
Marcia Murphy
Pacific One Mortgage, Inc
808-792-7169 or 808-479-2427

Small Balance Commercial Lending

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HOT, HOT, HOT; NO APPRAISAL FEE, no application fee, not title or escrow fees on refinance or equity lines of credit transactions: 1% loan origination fee-WAIVED for a limited time on loans or lines of credit $250,000 to $500,000!
This is a killer deal!
Loan amounts from $50,000 to $500,000, in first lien or second lien position. A wide variety of property types, including retail, office, warehouse, mixed-use, multi-family; Owner Occupied or Investor Properties; all legal entities including individuals, sole proprietors, LLCs, and Corporations. Property values up to $2,000,000.
This is an ideal loan for the self-employed and small business owner whom is looking to purchase commercial real estate, or in need of cash to reinvest in their business, make improvements to their existing property, or just establish a line of credit for future use.
Very competitive rates, and streamline application process.
Call the office to find out more about this amazing program.
Marcia Murphy
Pacific One Mortgage, Inc

New Conforming Jumbo Loans/ Rates Just Dropped

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WOW, this is GREAT!! Fannie Mae and Freddie Mac have just eliminated the “price adders” which were previously driving higher rates on the new, conforming, (temporary) higher loan limits above the $625,500 loan amount! Now, as of May 7, 2008, the pricing on these “Jumbo” loans is almost equal to the agency conforming!
Oh, by the way, the max loan amount for the new, conforming “Jumbo” varies by zip code. In Hawaii, the loan limit by County for a one unit property is as follows; Honolulu $793,750, Kalawao $716,250, Kauai $773,750, Maui $790,000.
What a great opportunity to capture an excellent rate on what was previously considered a real Jumbo loan with real Jumbo pricing!
Please call the office if you have questions, or would like a rate quote.
Marcia Murphy
Pacific One Mortgage, Inc
808-792-7169 office

Rural Housing Loan/ 102% Financing

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What a fabulous loan for this day and age. Yes, the property must be located in a RD qualified area, and there are income restrictions; however, all areas of The Outer Islands qualify, as does much of Oahu! And the income restrictions are quite liberal based on family size and the RD limit for the area. Following are some of the highlights of this very attractive program;
30 year fixed rate mortgage only, with very competitive rates
Up to 102%LTV
NO MONTHLY MORTGAGE INSURANCE: loans are guaranteed for life by the USDA
No minimum down payment, or reserves are required
Not limited to first time homebuyers
One-unit, primary residence only
Up to 6% seller contribution permitted
Borrower’s income may not exceed the RD limit for the area

Please call our office for additional information, or qualifying quidelines
Marcia Murphy
Pacific One Mortgage, Inc
808-479-2427 cell

Boost Your Savings Account

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Annual income aside, there’s not a person among us who wouldn’t welcome the idea of having more money in their savings account. This is the money we use on everything from yearly vacations to family presents. Come holiday time, wouldn’t it be nice to have an extra thousand or so dollars at your disposal? Here are a few ideas that can help to make that possible. The best part is you’ll hardly feel it!

Bring Your Lunch to Work − The average person spends $6 when they buy their lunch yet only $2 when they pack it themselves. That’s a potential savings of $20 a week or $1,040 dollars a year.

Durable over Disposable − Using products like Handi−Wipes (semi−disposable rags) as opposed to paper towels, and a rechargeable razor rather than the disposable kind, can save you up to $200 per year.

Hold an Annual Yard Sale − You should have no problem making at least a hundred bucks. Besides, you’ll get rid of all that household clutter in the process. Whatever you don’t sell can be donated to charity and used as a tax write−off.

Ask for Discounts − From buying airline tickets to paying a medical bill, always ask if there’s a discount to be had. The worst that can happen is you’ll be told no.

Get a Library Card − As opposed to buying a book for $20 or renting a DVD for $4, get it for free. If you average 3 movie rentals a month, you’ll save yourself over $140 a year.

Watch Those Utilities − Changing over to energy saving light bulbs and low flow showerheads is a great start. Also, most utility companies offer a home audit you can complete online. If not, go to http://hes.lbl.gov for a virtual inspection of your home. You may be surprised to learn how much energy (and money) you could be saving.

The good news is suggestions like these are merely a start. Only you know where your household may be wasting money. Find inefficient habits and figure out a solution. Remember, every little bit counts. The final step is when you save money on something, put the savings into an earmarked account. Then leave it alone until it’s the appropriate time to use it.

What Was Your Name Again?

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Tips for Improving Memory

Have you ever been introduced to someone and, about two seconds after shaking his hand, forgotten his name? Don’t worry. This is not evidence that you’re losing your mind or that you’re on the fast track to senility. Turns out, this is actually an extremely common occurrence for many busy people today – including me!

The good news is that, not only is there plenty of research on the subject to help us cope with this problem, there are also a number of simple, practical actions we can take to improve our memory now and long into the future.

No Pain, No Gain

Wouldn’t it be great if we could improve our memories as easily as we upgrade our computers? Unfortunately, our brains, like our bodies, require the benefits of regular exercise, a healthy diet, and other good habits – like not smoking, not drinking excessively, and getting the proper amount of sleep each night – in order to function at the highest level. If it seems that your memory is getting worse and worse each year, it could be that you’re just not managing one or more of these areas as well as you probably could.

With this in mind, here are some great tips for proactively strengthening your memory:

Neurobic Exercise

You know all about the wonderful effects aerobic exercise has on the heart, but have you heard of neurobic exercise for the brain? According to Lawrence Katz, co−author of Keep Your Brain Alive: 83 Neurobic Exercises, the best exercise for the brain is to force it to form “new patterns of association” or new pathways.

In other words, challenge your brain every day; take it off auto−pilot and make it relearn or create new associations with the most routine activities of your day. The book offers numerous examples of small changes you can make to activate your brain, including: brushing your teeth with the other hand; taking an alternative route to work; moving your wastebasket to the other side of your desk; closing your eyes while putting your key in and unlocking the front door; and changing where you and your family members sit at the dinner table.

Mnemonic Drilling

Turns out there are actually three steps or stages of memorization: acquisition, consolidation, and retrieval. Once we acquire new information, like someone’s name for instance, how we consolidate that data directly affects how well we’re able to retrieve it from memory. Whether you’re a visual or auditory type of learner, there are many mnemonic devices that can help you to better organize or consolidate the new information that you need to recall. Here’s one that might help.

First, associate the data you want to remember with common images. For instance, let’s say you meet someone named Jennifer Green. Imagine Jennifer playing golf, or picture her wearing all green clothes, or imagine her face painted completely green. Second, think of associations you can use to help you remember this person. For instance, link Jennifer to the quality that best fits her personality (use alliteration and rhymes whenever possible): Jolly Jennifer Green. Finally, connect sound to your memory by saying the name aloud. Do this regularly and, before you know it, you’ll never forget anyone’s name again!

More Facts on Credit Rating

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  • Your Payment History – 35% impact on your credit score.
  • The Balance You Owe vs. Your Available Credit Lines – 30% impact on your credit score.
  • Your Credit History, or how long your accounts have been opened – 15% impact on your credit score.
  • The type of credit that you have open – 10% impact on your score.
  • The number of recent inquiries that have been made by creditors – 10% impact on your credit score.

Improving your Credit Rating

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Fast Facts:

  • Pay debt on time
  • Know your credit history
  • Keep your credit balances below 50% of the available limit
  • Credit inquiries affect your credit score
  • Multiple inquiries by home loan lenders within 45 days count as only one inquiry

Mortgage Bonds Update

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And that’s exactly the song that Mortgage Bonds appear to be singing to the 200-day Moving Average recently. In fact, they’ve touched this level on twelve of the past sixteen trading sessions – and just can’t seem to get enough. But why do Bonds continue to linger around this level, and how much will be enough?

The 200-day Moving Average has historically acted as a very strong “floor of support” or “ceiling of resistance” for Bonds, meaning that Bonds generally decidedly trade above or below this line. And the current tap-dance that Bonds are doing all over this level shows that there is a bit of uncertainty in the markets – and it will take a series of economic reports that are either very strong or very weak to propel Bonds to move away from the 200-day Moving Average. Remember that strong economic news tends to move Bond prices lower, causing home loan rates to worsen – and weak economic news tends to move Bond prices higher, causing home loan rates to improve.

And last week’s news just didn’t provide enough impetus for Bonds to make a decisive move one way or the other. Retail Sales were much better than expected yet Consumer Sentiment was lower than expected, while reads on Producer Price Inflation were a bit mixed. All in all, home loan rates stayed generally flat for most of the week.

Forecast for the Week

So could this week’s slate of economic reports hold enough information for Bonds to decide they’ve had enough of the 200-day Moving Average – and cause home loan rates to make a move? The upcoming calendar features reports on Manufacturing, Housing, and Consumer Inflation…so it could get juicy, depending on the flavor of the reports.

The report that has the potential to cause the most action is the Consumer Price Index, which is simply a measure of the price levels we as consumers are paying for our goods and services. Last week’s Producer Price Index was somewhat mixed, but had a pretty hot “headline” or overall read on Producer Inflation – which sparked some chatter and concern in the Bond trading pits, because Bonds hate any kind of inflation. So if this week’s Consumer Price Index has the scent of inflation – Bond prices will likely move lower, and cause home loan rates to rise.

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