If you’re considering owning your own home for the first time, it’s natural to feel a little stressed. You may have heard that home prices in Hawaii are going up, or that low inventory is expected to continue throughout next year, or that mortgages are harder to come by.
However, there is help standing by. The Hawaii HomeOwnership Center (HHOC), in conjunction with the Honolulu Board of REALTORS , is making the dream of homeownership a reality for many Hawaii families.
“We recently passed a major milestone by helping more than 1,500 first-time buyers successfully navigate the home-buying process. Barriers to even entering the market can be complicated and overwhelming, but our staff is well-equipped to help people from all economic backgrounds chart a path to reach their goal,” said Dennis Oshiro, executive director of the Hawaii HomeOwnership Center. “We strongly believe that giving families the pride of owning their home makes the fabric of our community even stronger.”
The HHOC helps any family dealing with these common issues: an income that seems too low compared to the high cost of housing; problems with high debt or poor credit history; lack of money for a down payment; or simply not knowing where to begin in the home-buying process. With education and coaching in financial literacy, the HHOC takes the mystery out of financing and buying a home.
“We start by helping people understand the basics, such as fixed and adjustable rate mortgages, what it means to be ‘pre-approved for a loan,’ and how to calculate monthly payments,” continued Oshiro. “After that, we connect them with resources and offer post-purchase advice. We are with them through the entire process.”
The organization works closely with the Honolulu Board of REALTORS to ensure buyers are offered sound, quality advice. REALTORS are not just experts in the housing market, they also adhere to a Code of Ethics, which guides their daily activities in the real estate business and best practices on behalf their clients.
“Working with buyers through the HHOC is very rewarding for our members, because successfully placing a family in the first home they own is an unparalleled experience,” said Suzanne Young, CEO of the Honolulu Board of REALTORS . “As recent trends show, home prices will continue to rise. It is important that families of all incomes understand that home-ownership can be a reality.”