Honolulu HomeLoans Offers a New Loan Program for Foreign Nationals and Unwarrantable Condos | Business
HONOLULU – www.HonHL.com – Honolulu HomeLoans Inc. (HHL), Hawaii’s premier mortgage banker, today announced its new Non-Conforming Loan Program, aimed at helping clients who may have special challenges obtaining financing. With the program, unwarrantable projects such as condotels and properties in litigation are now eligible for financing. Foreign nationals, who are not currently eligible for conforming loans such as Fannie Mae and Freddie Mac loans, are eligible for financing through this program.
“We saw a need going unmet for certain property types and borrowers and decided now was the time to develop this program. I don’t know of any other lenders financing condotels with kitchenettes,” said Anders Hostelley, Honolulu HomeLoans Chief Production Officer. “This program also is perfect for foreign nationals or non-resident aliens who may want to obtain financing for a home in Hawaii.”
The program is available for a limited time as HHL evaluates its impact in Hawaii’s market. Through this product, borrowers may also be able to obtain financing with higher than standard debt-to-income ratios.
“As a locally owned mortgage banker, we lend our own money, expediting the application process,” Hostelley said. “In addition, more than 70 percent of loans from HHL are serviced in Hawaii, making it easy to check on the status of a loan or make a payment.”
Those interested in learning more about the Non-Conforming Loan Program should contact an HHL loan officer at 808.681.7500 or visit www.HonHL.com.
Honolulu HomeLoans, Inc., NMLS #314918, is Hawaii's largest locally owned mortgage banker. The firm provides residential loans and refinancing of existing mortgages directly to consumers and currently services more than $900 million in Hawaii-based mortgage loans. For more information about Honolulu HomeLoans, visit www.honhl.com or call 808.681.7500. Honolulu HomeLoans is an Equal Housing Lender. Loans are made without regard to race, color, religion, national origin, sex, handicap, or familial status.