Still searching for that “dream home”? Why not build it!

Miles Kimhan
(NMLS# 364852)
President of CU Network Services (NMLS# 375459)

Let’s face it, trying to find that perfect home at a reasonable price in Hawaii is nearly impossible. With the average single-family home being listed at roughly over half a million dollars and multi-family homes easily being priced at over a million dollars, your dream home isn’t going to come cheap. But with the right help, you don’t have to settle for buying at these prices. If you choose to build your own home, you can still have your dream home and at a much lower price than what you’ll find out on the market.

A common scenario when house hunting in neighborhoods that are particularly desirable or convenient is finding that the only houses in your price range are fixer-uppers or tear-downs. However, rather than being discouraged by what is out there, perhaps a rebuild or remodel is the option to consider. There are alternate routes to your dream home and they can often be more cost effective…plus you end up with a brand new custom home in a great location!

If your decision is to knock down and rebuild, or if you already have an empty lot ready to be built on, an Owner/Builder Construction Loan from Hawaii Central Federal Credit Union (HCFCU) could be the key to your dream home! This unique and specialized type of loan was created to provide financing for borrowers planning their own home construction projects.

They have extensive experience in financing home building projects and have provided numerous Owner / Builder Construction loans since they began offering this specialty loan product in 2010. The popularity of this loan has continued to increase as more and more buyers choose this option to achieve the home of their dreams.

Another alternative is to remodel your current home. By analyzing your home’s current value against the costs involved in purchasing a new home, a remodel may turn out to be your best option financially. A renovation project can range from updating a home with new paint and fixtures to adding rooms or another floor to accommodate a growing family or create an environment for multi-generational living.

With a home equity line of credit from Hawaii Central Federal Credit Union, such projects can be funded in as little as two weeks, enabling you to get your renovations started promptly!

To learn more about the Owner/Builder Construction Loan program, home equity loans or for more information about other home loan products, please call 529-4599 or visit their office at 681 South King Street.

Home loans are underwritten by CU Network Services (NMLS# 375459), which is a wholly-owned subsidiary of Hawaii Central Federal Credit Union. Equal Housing Lender. (NMLS#412820)

Sandwich Isles Realty
Kimo Smigielski, Broker-in-Charge
R, ABR, CRS, GRI, e-PRO