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APEX Mortgage LLC offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide:

Loans for the purchase of your primary residence, vacation/second home or rental property

Construction of your primary residence, second home or rental property.

Land acquisition

Reverse Mortgage Loans. These materials are not from HUD or FHA and were not approved by HUD or a government agency.

VA, FHA and USDA (Rural Housing)loan products.

 
CONVENTIONAL LOANS
FHA LOANS
REVERSE MORTGAGE LOANS
U.S.D.A. RURAL HOUSING LOANS
VA LOANS

CONVENTIONAL LOANS
Conventional loans are financing choices offered by most creditors. They are known as 30 year fixed rate loans, 15 year fixed rate loans, adjustable rate (with fixed terms of 1, 3, 5, 7 or 10 years). These loans are the basic loan products offered to the consumer looking to buy or refinance their home. A consumer can buy a home with as little as 3% down payment as an owner occupant. A second home owner can buy a property with as little as 10% down and an investor needs to have at least a 15% down payment. The less that a consumer provides in equity for the loan, the more the interest rate will be impacted. Interest rates for a conventional loan are based on the down payment, credit score, use (primary home, second home or rental) and type of property. Quoting an interest rate for a consumer requires knowing these all of these items so that we can provide a fair and accurate rate quote. Conventional loans are still the primary loan product used by the majority of home buyers and those seeking to refinance their home. For Hawaii county, the maximum loan amount is $636,150. Home Possible offers the 1st time homebuyer an ability to get into a home with income up to $117000 and as little as 3% down. Call APEX Mortgage for more details at 808-327-0404

Term: 30 years   Maximum Amount: $636,150

FHA LOANS
FHA loans are loans provided by creditors for the purchase or refinance of a home. FHA does not make loans, they insure them for the Creditor AFTER the loan is closed. FHA products are for loan financing with as little as a 3.5% down payment for the purchase or refinance of a home or condo. A condo project must be on FHA's approved list to provide a loan in the condo project. FHA loan limits in Hawaii county are currently $368000 for a single family home/condo. FHA loan qualifying ratios are slightly more flexible than Conventional loan products. FHA upfront mortgage insurance cost with 3.5% down payment is 1.75% (which is added to the loan amount) along with monthly mortgage insurance of .50%. The monthly mortgage insurance cost does not go away as you pay down your loan balance. The borrower has to obtain a new loan in order to remove the monthly mortgage insurance cost on the loan. The interest rate on a FHA fixed rate loan is generally lower than a conventional loan product. FHA interest rates are not as driven by credit score and down payment as much as a conventional loan product. FHA loan products include both fixed rate and adjustable rate loan options. FHA loans are for owner occupants only. The primary borrower can have others help cosign on the loan in order to help qualify for the loan. Call APEX Mortgage at 808-327-0404 for more details.

REVERSE MORTGAGE LOANS
A reverse mortgage loan is a loan product for the borrower who is looking for a retirement financial planning tool. The reverse mortgage is available for eligible borrowers who are 62 years of age or older (on the date that the loan closes) and who wish to use this loan product to 1) payoff an exiting lien on a home; 2) obtain a monthly payment for life or for a set time period (tenure vs term); 3) obtain a line of credit or 4) a combination of all of the above. The options listed above are based on whether your transaction is a purchase or refinance loan and the equity available in your property. The Reverse Mortgage is a loan product insured by FHA (Federal Housing Administration) that is offered through Lenders for the consumer. The consumer is required to obtain counseling from an approved FHA counseling agency prior to the completion of the loan application. Once counseling is complete, the Mortgage Broker may complete the loan application and provide it to the lender with the appraisal report for a loan decision. The borrower has options for both fixed rate and adjustable rate loan choices. In Hawaii county, the value limit is $636,150 for calculating the maximum amount the borrower may obtain on a Reverse Mortgage loan. The reverse mortgage borrower must continue to pay the property taxes, homeowners insurance and maintenance costs for the life of the reverse mortgage loan. Call APEX Mortgage at 808-327-0404 for more information.

U.S.D.A. RURAL HOUSING LOANS
USDA Rural housing loans allow up to 100% financing for eligible borrowers and properties. You can check to see if the property you are interested in is located in an eligible area by going to this website: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do;jsessionid=6DMKP0bbyaiJjgffaGypfdgn The income limit for a family of 4 or less is $87,850 or a family of 5 to 8 is $115950 to be eligible to apply for the loan program in Hawaii county. Qualifying ratios are slightly tighter. 29% to 35% of your income can be used for a housing payment and 41% to 45% can be used to cover all debt. The higher ratios may be used by the Creditor when there are compensating factors for the loan and it receives a positive approval from the Government Underwriting System (GUS). The Rural housing loan can be used in condo projects that are VA or FHA approved. Permits are required for all improvements to the property. Rural Housing provides 100% loan products in Lava Zone 2 on the Big Island. The upfront fee for Rural Housing is 1.00% and .35% monthly. The monthly mortgage insurance fee does not drop off once there is enough equity in the home made by paying down the mortgage. These loans are for Owner Occupants only. The borrower is to remain as an owner occupant unless there are extenuating circumstances that causes them to leave the property and rent out the home. Call APEX Mortgage for your loan choices.

VA LOANS
APEX Mortgage originates loans for eligible Veterans for the purchase or refinance of a home or condo. In Hawaii county, the loan limit is $625500 for 100% financing (except for lava zone 2). Jumbo VA loans are also available in Hawaii county with a 25% down payment for the amount over $636150 VA loan products provide flexibility to the Veteran to qualify for a home loan with higher qualifying ratios, use of residual income calculations, and payoff of consumer debt by the seller to help qualify for the loan. VA loans require an upfront funding fee which is based on type of service, down payment, additional use or whether the Veteran is exempt from the fee completely. This fee can be financed into the loan amount rather than having it be paid as a separate closing cost. VA loans still have nonallowable costs to the veteran that are covered by the seller or by the lender. APEX has taken already submitted over 5 condo projects for approval by the VA for borrowers in their county. APEX will continue to help their veterans achieve the goal of home ownership using their entitlement from their military service. APEX can help request the Certificate of Eligibility from the VA on behalf of the borrower. Call APEX at 808-327-0404 for more information.


CALL APEX MORTGAGE at 808-327-0404 for Conventional loans, FHA loans, VA loans, USDA loans and REVERSE MORTGAGE LOAN choices.

Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $424,100 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $625,500 with closing costs of $12,510. Jumbo Loans (whose maximum loan amount exceed $424,100 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.
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