Most homeowners are not aware of the amazing opportunity they've been presented in Hawaii's current real estate and lending environment.
Capital Hawaii advises homeowners to arrange a fixed home equity loan while interest rates are still at historic lows and home values are reaching all-time highs.
"Now is perfect opportunity to address present or future needs,” Myers explains. “Equity is essentially what your home is worth minus what you owe. It's like a savings account that grows as your existing mortgage balance goes down and your home value rises. However, you can't touch it unless you sell your home or utilize a home equity program. For many, they have hundreds of thousands of dollars in untapped equity.”
People with retirement on the horizon in the next ten to fifteen years need to think ahead.
“Borrow while you are in your peak earning years. Once you retire and switch to a fixed income, you may not be able to qualify for the loan you really need,” Myers adds. “Furthermore, interest rates are trending upward and will likely accelerate as our economy improves.”
The cash from a home equity loan could open up vast opportunities-from investing in other real estate, large renovation or construction projects, to business opportunities, debt consolidation, and even elderly care.
Myers Capital Hawaii's Fixed Rate Home Equity Loan program offers homeowners a sense of comfort and consistency. “If you're borrowing tens of thousands of dollars, you don't want to expose yourself to a variable HELOC program where rates can adjust up to
19%,” Myers advises.
Operating out of the Davies Pacific Center on Bishop Street in downtown Honolulu, Myers will work one-on-one with you to help realize your goals and personal vision for the future.