Lender Earns Reputation For Personalized Service, Low Rates
When Reed Myers expanded his family-owned mortgage company from South Carolina to Hawaii over two years ago, he carved out a special niche for the 15-year-old Myers Capital in the local lending industry.
“I returned to my home-town of Honolulu to establish Myers Capital Hawaii. I saw a need for the kind of specialized service a boutique mortgage firm can offer borrowers in Hawaii,” Myers said. “The key to helping our clients purchase or refinance their home lies in our prompt, attentive service, a willingness to spend the time to fully educate them on all phases of a real estate transaction, combined with the most competitive interest rates they will find anywhere.
“Competition is heating up in Hawaii’s purchase market. Multiple offers are presented for desirable properties, often going above asking price.
“The good news is there are steps you can take to prepare yourself to present the strongest offer when you are ready to purchase your dream home.”
GETTING YOUR OFFER ACCEPTED AND MAXIMIZING YOUR BUYING POWER.
Myers offers the following guidelines:
STEP ONE. Start right away! Preparation and education are keys to a smooth transaction. You should never feel rushed or pressured in a well-organized plan of action to purchase a home. Even if you have purchased a home before, you will find that the current lending environment is different from previous years. Gather your tax returns, paystubs, and bank statements and meet with one of our Myers Capital Hawaii advisors to analyze your finances, credit profile, real estate goals, and prepare your prequalification letter.
STEP TWO: Equally as important as financing is choosing the right real estate agent. Myers Capital Hawaii will recommend experienced agents who are best suited to your particular needs, areas of interest, and preferred location.
STEP THREE: Get your offer accepted, lock in the lowest rate and close within 30 days. Myers Capital and your agent will work together to present the most effective offer possible. Qualifying for the lowest rates and closing within 30 days will make your purchase offer stronger.
THE IMPORTANCE OF OBTAINING THE LOWEST INTEREST RATE.
“Its incredibly important, and there is a reason why smart money borrowers seek the best combination of rates and costs,” Myers said. “Let’s look at the following scenario. If you borrowed $500,000 on a 30-year fixed term at 4.5%, you would pay a total $412,032 in interest over the life of the loan. If you take this same scenario but are able to get a 4% rate, you will have paid only $359,346 in interest – a savings of over $52,000. What is even more intriguing is if you matched the monthly principal and interest payment of $2,533.43 (from the 4.5% program), but obtained the 4.0% rate, you would pay the loan off almost 4 years earlier. That’s 4 years of no mortgage payments, resulting in an incredible savings of over $100,000. This should be in your retirement account, not paid to your lender!
“We know we can offer the lowest rates in the marketplace to qualified applicants. If you have taken appropriate steps to maintain a strong credit profile, you can actually qualify for lower rates than the standard borrower. In fact we encourage applicants to shop around, then come and see us. See how we do our pricing and most importantly see why our rates are lower. What we show you will amaze you.
“We encourage anyone planning to buy a home now, in the near future, or even further down the road to make an appointment and meet with one of our advisors. Preparation, combined with an exceptional advisor, creates a very powerful tool when purchasing or refinancing a home.”