Choosing to purchase Hawaii real estate is certainly a big decision. For those of you who enjoy investing in homes or if you’re simply someone who is looking into buying their very first home, Maui may sound like a dream come true. Real estate in Maui may seem like it comes with an expensive price tag, but what if we told you that Maui is among the top counties in Hawaii for mortgage approval? We think that might sway you.
According to a recent report conducted by SmartAsset, a web-based financial technology company, Maui is one of the top counties in the island chain for mortgage approval. The study, which ranked counties across America by assessing the ratio of total mortgage applications to mortgage approval rates in the state, found Maui to be the second in this list in front of Big Island, Kauai, and Kalawao County on Molokai. According to the report, Maui County has a 59.81 percent loan funding rate and an annual mortgage rate of $14,489. In comparison, Honolulu had a 64.12 loan funding rate and an annual mortgage payment of $14,489.
This is all good news for those looking to make a Maui real estate investment. Maui is an amazing island to call home, so take advantage of the Hawaii real estate market today and start looking for your next piece of paradise. Browse our real estate map and take some time to really get to know your new island home. And if you are feeling a little overwhelmed with all the options on your Maui MLS search, we are here to help! Here at Real Estate Maui Hawaii, we specialize in South Maui home sales along with Hawaii land properties and oceanfront condos for sale. Our Maui real estate agents are always here to help and can’t wait to guide you through the home buying process. Whether it is questions about local Maui real estate or about the mortgage approval process here on the island, please do not hesitate to contact us. We look forward to hearing from you soon, aloha!