The Time is Now to Buy a Home, and Aloha Pacific FCU Can Help

homes0105_2It’s a brand new year, and the best time for a brand new action plan.

So if you’ve been putting off buying a home or refinancing your mortgage, don’t wait any longer. Interest rates are inching up, and home prices are rising, too.

Aloha Pacific Federal Credit Union is ready to help you make that homeowning decision a lot easier. APFCU offers first mortgages, mortgage refinancing, home equity and home equity lines of credit for both owner-occupant and rental properties.

When you look at the numbers, you’ll see that waiting to jump in the real estate market may not be your best option. The Honolulu Board of Realtors reported that the median sales of single-family homes on Oahu rose from $640,000 in November 2012 to $684,000 in November 2013, just $1,000 short of the record set in July 2007.

What does this tell you? The Oahu real estate market is getting hotter, as realty experts have been predicting for months. And the longer you wait to buy a home, the stronger the possibility that your interest rate will be higher than you’d like as the Federal Reserve Board gradually pulls back on its economy-stimulus program.

Here’s a hypothetical situation to show how higher mortgage rates can affect your bottom line:

* For a $500,000 mortgage at a fixed 4.50% APR over 30 years (0 points), your monthly payment is estimated at $2,500; total interest paid over the life of the loan would be about $412,000.

* For a $500,000 mortgage at a fixed 6.00% APR over 30 years (0 points), your monthly payment is estimated at nearly $3,000; total interest paid over the life of the loan would be about $579,000.

APFCU’s mortgage specialists can answer all your questions, help you make the decisions that are right for you, and guide you through the process.

Visit any branch, www.alohapacific.com, or call 531-3711 for more information.

APFCU’s HELOC Offer Just Got Better!

Aloha Pacific FCU’s Home Equity Line of Credit is the answer to your long-term financing dreams: It’s offered at an extraordinary 3.50% annual percentage rate for 59 months. After 59 months, the rate is variable; the current rate is 5.00% APR.

Other features of the HELOC include:

* New – $500 in closing credits

* Check writing – Pay bills using a free set of checks ($1,000 minimum per draw).

* Internet access – View your current balance and draw on your line from your PC or mobile device. Simply transfer the money to your checking account.

Visit any branch, www.alohapacific.com, or call 531-3711 for more information.

Rate effective 01/01/2014 & subject to change. Membership ($100 in a regular savings) required. Loans quoted as fixed Annual Percentage Rate, unless noted. APR = Annual Percentage Rate. Subject to credit approval. Contact an employee for more information about applicable fees & terms. Some restrictions may apply. Programs may be modified or canceled at any time. HELOC offer is a fixed APR for 59 months at time of closing. After 59 months, the APR is variable. The current index rate is based on the prime rate published in the Wall Street Journal, plus 1.00%, adjusted quarterly (5.00% min. & 18.00% max), with a 10-year draw and 30-year amortization period. Applies to owner-occupied properties with required insurance and maximum loan-to-value of 80% in Hawaii. Estimated 3rd party fees (ALTA policy, appraisal, trust review & attorney) for a $250,000 HELOC are $500 to $1,200. We offer $500 closing credits against all 3rd party fees with an initial draw of $10,000 or more.

Locations Hawaii
Michael Marks
Sandwich Isles Realty
Kimo Smigielski, Broker-in-Charge
R, ABR, CRS, GRI, e-PRO
Hawaii Life Real Estate Brokers
Emily Garcia
Agent, REALTOR(A), RS-77391
Coldwell Banker
DAY-LUM Properties

Edith Crabb, RB-8195
Coldwell Banker
DAY-LUM Properties

Glenn Takase, RB-18547
Coldwell Banker
DAY-LUM Properties

Misti R. Tyrin, RS-75836
Coldwell Banker
DAY-LUM Properties

David L. Skeele, RB-12882
Kauai Landmark Realty
Phil Fudge, RB-18576
Claire Keaton, RS-73854
Coldwell Banker
DAY-LUM Properties

Shea Miyashiro, RS-64678
Coldwell Banker
DAY-LUM Properties

Atsuko Winston, RS-75899
Coldwell Banker
DAY-LUM Properties

Mark Skeele, RS-77005