As Bank of Hawaii senior vice president/residential sales manager Carol Marx explained, “Interest rates are still great despite uncertainty with future rate increases, global and political changes.
“Recently, we are seeing rates trickle down and the purchase market picking up again. Buyers are taking advantage of the current favorable rates to boost their purchasing power before rates or prices increase further,” she continued.
According to Marx, some of the new condominium developments are pricing units within reach for many first-time buyers, as well as buyers who may be downsizing from single-family homes or even larger condo units. “The newness and state-of-the-art technology of some of these developments are the attractions generating much of the activity in the condo market today,” she said.
Marx pointed out that, for a number of years, Bank of Hawaii has held the lead as Hawaii’s No. 1 residential lender statewide. In addition to presenting buyer seminars, Bankoh regularly reaches out to customers and the community with special programs, such as first-time homebuyer discounts and VA loan eligibility for prospective homeowners.
The bank also partners with the Honolulu Board of Realtors and other Realtor organizations throughout the state to provide real estate agents with information about loan programs that make it easier for their clients to purchase their dream home.
“Our residential loan officers are available for one-on-one consultations with both experienced and first-time buyers, days, nights and weekends — whether they are ready to buy now, or planning for the future,” Marx added.
Over the next two months, Bank of Hawaii will present both First-Time Home Buyer and VA Loan Seminars at various locations. For more information, go to boh.com/ mortgages.