Hawaii’s Best Mortgage Lenders & Current Mortgage Rates

Do you want to buy a home in the Aloha State? You aren’t alone. Hawaii has roughly 550,000 housing units and about 60.3% of households own their homes, according to the US Census Bureau’s 2020 American Community Survey.

Hawaii’s median housing value is $ 863,632, well over double the $ 350,300 national median value. Even though housing in Hawaii is significantly more expensive than the national median, you can find homes for less than the Hawaii median price in certain areas.

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US News selects the Best Loan Companies by evaluating affordability, borrower eligibility criteria and customer service. Those with the highest overall scores are considered the best lenders.

To calculate each score, we use data about the lender and its loan offerings, giving greater weight to factors that matter most to borrowers. For mortgage lenders, we take into account each company customer service ratings, interest rates, loan product availability, minimum down payment, minimum FICO score and online features.

The weight each scoring factor receives is based on a nationwide survey on what borrowers look for in a lender.

To receive a rating, lenders must offer qualifying loans nationwide and have a good reputation within the industry. Read more about our methodology.

Axos Bank, founded in 2000, is a digital financial services company based in San Diego. The full-service online bank offers everything from personal and business savings and checking accounts to auto and home loans. Borrowers with an Axos Bank checking account can reduce or eliminate the lender fee and earn cash back by using the account to make monthly mortgage payments.

PrimeLending is a Dallas-based mortgage lender with several mortgage loan options, including conventional loans, jumbo loans, government-backed loans and refinance loans. The lender is a subsidiary of PlainsCapital Bank.

AmeriSave Mortgage Corp. is an online lender that has been in business since 2002. It was one of the first to offer an offsite, digital mortgage experience for customers. The company says it has financed more than 390,000 homes since it started operating. With headquarters in Atlanta, AmeriSave services loans in 49 states and Washington, DC

Headquartered in Charlotte, North Carolina, Truist Bank was formed in 2019 after SunTrust and BB&T banks merged. Truist Bank offers a variety of mortgage products, including refinancing and home equity lines of credit.

Caliber Home Loans of Coppell, Texas, offers mortgage products nationwide. Options include conventional, adjustable-rate, jumbo, refinancing, Federal Housing Administration, US Department of Agriculture and Department of Veterans Affairs loans. Caliber has been in business since 2008, and is solely focused on home lending products.

Carrington Mortgage Services, founded in 2007, offers an array of mortgage and refinancing options to borrowers seeking conventional or government-backed loans. Its California-based parent company, Carrington Holding Co., was established in 2003 and provides a range of real estate services. Carrington Mortgage Services is based in California and also has offices in Arizona, Connecticut, Florida, Indiana and Maryland.

New American Funding is a mortgage lender offering a variety of loan options to homebuyers and homeowners nationwide except for Hawaii. The company, founded in 2003 and based in Tustin, California, has originated $ 58 billion in mortgages to date.

PNC Bank is one of the largest banks in the United States, serving more than 12 million customers in all 50 states. A full-service mortgage lender, PNC offers most mortgage loan product types.

Veterans United Home Loans offers mortgages in all 50 states and Washington, DC, and specializes in Department of Veterans Affairs loans. Since 2016, Veterans United Home Loans has generated the largest number of VA purchase loans per year in the nation. The lender was founded in 2002 and is based in Columbia, Missouri.

Founded in 1990, Freedom Mortgage is one of the country’s largest loan originators and services, operating in all 50 states plus the District of Columbia, the US Virgin Islands and Puerto Rico. Based in Mount Laurel, New Jersey, Freedom Mortgage was named No. 1 Veterans Affairs lender and No. 1 Federal Housing Administration lender by the industry publication Inside Mortgage Finance. Freedom Mortgage offers a range of mortgage loans, including conventional, adjustable-rate, refinance, FHA, VA and US Department of Agriculture. But what Freedom Mortgage is known for is its mission to help American military personnel purchase a home.

The average interest rate for a 30-year fixed-rate conforming mortgage in Hawaii is 2.58%.

Home interest rates range from 2.5% to 2.75% in Hawaii.

Is your dream home within reach? US News’ mortgage calculator will show you how much house you can afford.

The Hawaii Housing Finance & Development Corp. has a couple of programs to help potential Hawaii homebuyers purchase a home.

  • Available to: Eligible Hawaii homebuyers.
  • Income limits: Vary by county (see income limits).
  • First-time homebuyers only? No, but must not have had an ownership interest in a principal residence at any time in the last three years.
  • Benefits: A federal income tax credit of up to 20% of your annual mortgage interest, resulting in a dollar-for-dollar reduction of your annual federal income tax liability.

  • Available to: Eligible Hawaii homebuyers.
  • Income limits: Vary by county and household size (see income limits).
  • First-time homebuyers only? No.
  • Benefits: The opportunity to purchase affordably priced housing in government-sponsored developments. Purchase prices range from $ 250,000 to $ 500,000 but are subject to change without notice.

Homefinity launched in 2018 as the online lending division of Fairway Independent Mortgage. It offers a variety of mortgage products including conventional mortgages, Federal Housing Administration and Veterans Affairs mortgages, mortgages for physicians, and mortgage refinancing.

Founded in 2008, PennyMac is a national mortgage lender with more than $ 495 billion in loans serviced. PennyMac offers a range of home loans, from conventional to FHA, VA and investment property mortgages.

CMG Financial is a privately held mortgage banking firm operating nationwide with localized support, founded in 1993 and based in San Ramon, California. The lender offers a range of products including conventional, government and specialty mortgages, like jumbo loans.

LoanDepot is a mortgage lender that operates nationally with more than 200 branches and delivers both a digital experience and face-to-face service. The lender offers fixed- and adjustable-rate conventional mortgages, Federal Housing Administration and Department of Veterans Affairs loans, as well as refinance and renovation loans. The company was founded in 2010 and is based in Foothill Ranch, California.

The Pentagon Federal Credit Union, widely known as PenFed, offers borrowers access to many types of mortgages: conventional, adjustable rate, jumbo and Department of Veterans Affairs, plus refinancing loans and home equity lines of credit. The financial institution, which serves 2.5 million members, was established in 1935 and is based in McLean, Virginia.

Bank of America serves roughly 66 million customers in all 50 states. The lender offers conventional, Federal Housing Administration, Department of Veterans Affairs and jumbo loans as well as home equity lines of credit and mortgage refinancing.

Flagstar offers banking and loan products to borrowers in all 50 states. Borrowers can obtain mortgage and home equity products including conventional loans, Federal Housing Administration loans, Veterans Affairs loans, US Department of Agriculture loans, adjustable-rate mortgages, and home equity loans and lines of credit.

Rocket Mortgage, the largest mortgage lender in the nation, was founded in 1985. The Detroit-based company is best known for its fully digital experience of buying or refinancing a home. Rocket Mortgage changed its name from Quicken Loans in the summer of 2021.

Alliant Credit Union is a not-for-profit financial cooperative that serves customers in all 50 states. Alliant offers products such as conventional, jumbo, refinancing and home equity loans, but specific mortgage products may not be available in certain states.

Discover is a major credit card issuer, but its financial products and services go beyond that. In addition to credit cards and banking, Discover offers home equity loans to qualified borrowers. These loans can be used for many purposes, including home improvement, debt consolidation, mortgage refinancing and other major expenses.

Advertising Disclosure: Some of the loan offers on this site are from companies who are advertising clients of US News. Advertising considerations may impact where offers appear on the site but do not affect any editorial decisions, such as which loan products we write about and how we evaluate them. This site does not include all loan companies or all loan offers available in the marketplace.

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