Make The Rate A Top Priority
There's no question about it: The process of buying a new home in Hawaii is filled with hundreds of small details. There's a mountain of paperwork, all the homes you visited before you made your final choice, enough numbers thrown at you to confuse a calculator, and the endless hours you will spend dealing with each of these things. When it's all said and done, if the Hawaii mortgage interest rate isn't the very best deal you could make, then all that hard work was for nothing. If you get a fixed rate home loan, then that will be the rate for the duration of your mortgage. If it isn't optimal, it could cost you many thousands of dollars over the course of 30 years. Here are some ways you can work toward getting the best rate possible:
Protect Your Interests
Getting locked in mortgage rates is no short order, and generally takes at least several weeks to finalize, and that's if you already have a home in mind. When you've been offered an interest rate from a mortgage lender in Hawaii, get them to guarantee that rate for as long as possible. 30 to 60 days isn't unreasonable. Also have them guarantee you'll get the lowest rate possible during that period in the event rates drop below your guaranteed amount. This can save you tens of thousands of dollars over the life of your mortgage.
The Mortgage Lender Wants Your Business
Remember, you are in control of all of the decisions made regarding your mortgage rates and other terms and conditions of surrounding the purchase of your new home in Hawaii. If you're not happy about something, or feel like there are terms and conditions that need some further clarification or negotiation, bring them up. They will never get addressed if you don't say anything, so prepare yourself to make any comment, or ask any question you deem relevant. Nothing is set in stone until it is, so remember that they want you as their customer, which puts you in a position they have to respect. It's your money. Don't sign until your terms and conditions have been met.