Homes for Sale in Honolulu

I'm pleased to update my listings, homes for sale on Oahu

3653 Diamond Head Circle is an estate listed at $7,500,000 on a huge (remember, this is Diamond Head) lot of 19,000 SF. The home has 11 bedrooms, 8 baths, and is priced right for someone to finish it off as a multi-generational compound.

230 Beach Walk, in the new Trump Tower, is a view condo, 1 bedroom/2 bath, in Waikiki. It has two lanais with ocean view, includes all furnishings, and the top-of-the-line amentities of the Tower. Asking price is $1,950,000.

437 Launiu St. is a condo in the upscale buildings, Lofts of Waikiki. This boutique building is in the heart of Waikiki. The 2 bedroom/2 bath home has a view lanai, covered secure parking, 12' ceilings, and gourmet kitchen. Asking $720,000.

1917 Hani Lane is a foster care home for 4 tenants located in Kalihi, listed at $700,000. Beds for elders on Oahu are in very short supply and this is an ongoing business.

720 Puu Kala St. is a 3 bedroom/2.5 bath single level home in Pearl City, of approximately 1,200 SF. Asking price is $585,000.

855 Umi St. is a commercial/industrial space for lease off North King in Honolulu .Tenant pays electricity. There are 3 parking stalls and 10,000 SF of rentable usable area. Lease rent $10,000/month/year which includes CAM.

Please contact me to preview any of these properties or for information on homes or commercial buildings available on Oahu.

Kimberlay K. Malen, Broker
KKM Realty Int'l Inc.
808-295-5360
kkm@kkmrealty.com

Mortgage Money Now Available to Non-permanent Resident Aliens

There is now a source of money from a non-bank for foreign investors. Icon Residential Lenders, LLC has announced it will lend to non-permanent resident aliens as follows:

All non-permanent resident aliens must provide evidence of an unexpired, valid, acceptable visa. A copy of the visa must be included in the loan file. The following are acceptable visa types:

A Series (A-1, A-2, and A-3)

E-1, Treaty Trader

G Series (G-1, G-2, G-3, G-4, and G-5) H-1, Temporary Worker L-1,

Intra-Company Transferee TN, NAFTA Visa TC, NA Visa

They are not accepting borrowers without valid social security numbers, work authorizations and Visa's. Borrowers with just a taxpayer identification number (TIN) are ineligible.

Please contact Zeke Schmus for information.

Zeke Schmus
Platinum Mortgage Partners
Office#: (808) 792-7638
Fax#: (808) 792-7639
Cell: (808) 372-1929
zeke@pmphi.com

Help Is On the Way

Have you tried to refinance your loan to a lower rate recently only to be told you don't have enough equity or your credit scores are too low?

If your loan is currently owned by Fannie Mae or Freddie Mac there may be help on the horizon. Fannie is releasing a program called DU Refinance Plus and Freddie is releasing a program called the Freddie Mac Relief Refinance. In each case lenders will start easing restrictions on lending to allow people who are current on their mortgages to take advantage of the low rates available today.

The most important facet of the programs is that they allow for high loan to values(LTV). This is especially important in a market with declining property values such as ours.

Full implementation of the programs will begin on May 1, 2009. You may go on one of the following websites to see if your loan qualifies for one of these programs:

http://loanlookup.fanniemae.com/loanlookup/

https://ww3.freddiemac.com/corporate

If you find out you are eligible and want to see if you qualify for a lower rate, contact me early as I expect this program will get flooded once implemented.

Zeke Schmus

Platinum Mortgage Partners
Office#: (808) 792-7638
Fax#: (808) 792-7639
Cell: (808) 372-1929
Email: zeke@pmphi.com

Opportunities for Foreign National Borrowers

Currently there are at least two banks in Hawaii that are doing loans for Foreign National Borrowers. The possession of a work visa, social security number, and US credit will make the transaction easier.

Down Payment:
Owner occupied or second home: 30% with a loan amount up to $625,500
Non owner occupied: 40% up to a loan amount of $625,500
Owner occupied or second home: 40% up to $1,000,000

1 Unit properties only

Title must be held by a natural person

Requirements:

Credit: 3 trade lines with 24 month history on a US Credit report or 3 letters of credit with 24 month history.

Income: All income and asset documents shall be translated to US equivalent by a disinterested third party

Assets: Converted to US dollars

Requires a representative in the U.S..