Kapaa FHA Loan Rates, Closing Costs & Stats

Kapaa, HI

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Kapaa's 19 lenders originated 43 FHA loans during 2023. The total origination value was $24,225,000, with an average FHA loan value of $563,372.

    Kapaa FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Kapaa averaged 6.39% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Kapaa's average FHA mortgage closing costs are $16,115.

    The average rate for the prior week (2024-12-06) was 6.56% and one month ago for the week of 2024-11-08, the average rate was 6.62%.

    The average rate one year ago was 6.73%.

    For refis of the same type during the week of 2024-12-13, the average rate was 5.41%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Kapaa FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Kapaa level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    PLAZA HOME MORTGAGE, INC. 4 6.22% $21,837
    QUICKEN LOANS, LLC 4 5.68% $30,345
    UNITED WHOLESALE MORTGAGE, LLC 4 6.33% $19,023
    SECURITYNATIONAL MORTGAGE COMPANY 3 7.04% $21,053
    GUARANTEED RATE, INC. 3 6.09% $20,387
    CARDINAL FINANCIAL 3 7.08% $27,065
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.63% $34,757
    HomeStreet Bank 1 6.63% $19,469
    MID AMERICA MORTGAGE, INC. 1 7.25% $4,803
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $52,175
    Paramount Residential Mortgage Group, Inc. 1 6.25% $24,220
    U.S. Bank 1 5.75% $12,590
    American Mortgage & Equity Consultants, Inc. 1 6.99% $27,358
    V.I.P. MORTGAGE, INC. 1 5.50% $23,839
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $17,762
    Bank of Hawaii 1 6.25% $7,134
    BAY-VALLEY MORTGAGE GROUP 1 6.00% $24,840
    Century Mortgage Company DBA Century Lending Company 1 5.13% $34,116
    FREEDOM MORTGAGE CORPORATION 1 6.25% $32,987

    The top Kapaa FHA lender as defined by loan originations is PLAZA HOME MORTGAGE, INC., with 4 FHA loans originated. Their average total fees are $21,837, which is $8,508 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Kapaa FHA lenders (with over 10 loans originated) are .

    The lowest rate Kapaa FHA lenders (with over 10 loans originated) are .

    Kapaa FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    KAPAA, HI KAUAI 2022 $845,250 $1,082,100 $1,308,000 $1,625,500
    KAPAA, HI KAUAI 2023 $977,500 $1,251,400 $1,512,650 $1,879,850

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Kapaa (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $930,500 (15.8%) $2,152,650 (17.7%) 0.00 467
    2018-02-01 $939,750 (10.6%) $1,957,891 (4.7%) 0.00 445
    2018-03-01 $968,000 (11.7%) $2,048,720 (4.8%) 0.00 436
    2018-04-01 $987,000 (14.1%) $2,112,711 (8.1%) 0.00 415
    2018-05-01 $993,750 (10.6%) $2,134,297 (8.1%) 0.00 401
    2018-06-01 $1,050,000 (12.8%) $2,192,483 (2.8%) 0.00 397
    2018-07-01 $1,019,000 (10.5%) $2,249,527 (6.1%) 0.00 403
    2018-08-01 $954,450 (6.6%) $2,082,669 (3.6%) 0.00 427
    2018-09-01 $943,450 (5.1%) $2,027,291 (-4.5%) 0.00 436
    2018-10-01 $894,500 (-0.3%) $1,999,458 (-6.3%) 0.00 435
    2018-11-01 $864,000 (-2.8%) $1,918,129 (-10.0%) 0.00 457
    2018-12-01 $894,000 (-3.4%) $1,965,661 (-8.0%) 0.00 474
    2019-01-01 $897,625 (-3.5%) $2,006,009 (-6.8%) 0.00 472
    2019-02-01 $897,000 (-4.6%) $1,978,996 (1.1%) 0.00 477
    2019-03-01 $913,821 (-5.6%) $1,971,964 (-3.8%) 0.00 467
    2019-04-01 $900,321 (-8.8%) $1,926,777 (-8.8%) 0.00 466
    2019-05-01 $930,750 (-6.3%) $1,936,965 (-9.3%) 0.00 469
    2019-06-01 $988,000 (-5.9%) $1,984,570 (-9.5%) 0.00 462
    2019-07-01 $940,250 (-7.7%) $1,952,941 (-13.2%) 0.00 474
    2019-08-01 $1,016,018 (6.5%) $1,978,560 (-5.0%) 0.00 453
    2019-09-01 $1,079,795 (14.5%) $2,056,496 (1.4%) 0.00 437
    2019-10-01 $1,102,614 (23.3%) $2,107,898 (5.4%) 0.00 434
    2019-11-01 $1,124,000 (30.1%) $2,248,768 (17.2%) 0.00 447
    2019-12-01 $1,098,500 (22.9%) $2,191,364 (11.5%) 0.00 491
    2020-01-01 $1,062,500 (18.4%) $2,139,503 (6.7%) 0.00 473
    2020-02-01 $1,090,000 (21.5%) $2,297,226 (16.1%) 0.00 457
    2020-03-01 $1,070,500 (17.2%) $2,235,520 (13.4%) 0.00 446
    2020-04-01 $978,000 (8.6%) $2,158,232 (12.0%) 0.00 425
    2020-05-01 $912,500 (-2.0%) $1,963,440 (1.4%) 0.00 425
    2020-06-01 $888,750 (-10.1%) $1,884,753 (-5.0%) 0.00 424
    2020-07-01 $880,000 (-6.4%) $1,832,453 (-6.2%) 0.00 431
    2020-08-01 $925,000 (-9.0%) $1,870,539 (-5.5%) 0.00 447
    2020-09-01 $886,500 (-17.9%) $1,786,661 (-13.1%) 0.00 465
    2020-10-01 $875,000 (-20.6%) $1,840,912 (-12.7%) 0.00 469
    2020-11-01 $913,375 (-18.7%) $2,007,195 (-10.7%) 0.00 463
    2020-12-01 $939,500 (-14.5%) $2,017,549 (-7.9%) 0.00 446
    2021-01-01 $895,000 (-15.8%) $1,990,506 (-7.0%) 0.00 407
    2021-02-01 $911,000 (-16.4%) $1,926,263 (-16.2%) 0.00 386
    2021-03-01 $996,750 (-6.9%) $1,968,670 (-11.9%) 0.00 349
    2021-04-01 $1,186,000 (21.3%) $2,046,976 (-5.2%) 0.00 353
    2021-05-01 $1,395,000 (52.9%) $2,097,245 (6.8%) 0.00 287
    2021-06-01 $1,490,000 (67.7%) $2,265,820 (20.2%) 0.00 238
    2021-07-01 $1,485,000 (68.8%) $2,304,715 (25.8%) 0.00 238
    2021-08-01 $1,624,500 (75.6%) $2,484,932 (32.9%) 0.00 216
    2021-09-01 $1,597,250 (80.2%) $2,496,607 (39.7%) 0.00 214
    2021-10-01 $1,450,000 (65.7%) $2,406,588 (30.7%) 0.00 205
    2021-11-01 $1,530,000 (67.5%) $2,759,096 (37.5%) 0.00 177
    2021-12-01 $1,494,775 (59.1%) $2,892,629 (43.4%) 0.00 180
    2022-01-01 $1,350,000 (50.8%) $2,843,421 (42.9%) 0.00 169
    2022-02-01 $1,353,750 (48.6%) $2,995,954 (55.5%) 0.00 155
    2022-03-01 $1,494,750 (50.0%) $2,962,578 (50.5%) 0.00 148
    2022-04-01 $1,649,000 (39.0%) $3,068,465 (49.9%) 0.00 127
    2022-05-01 $1,706,250 (22.3%) $3,065,149 (46.2%) 0.00 128
    2022-06-01 $1,812,944 (21.7%) $3,078,113 (35.9%) 0.00 144
    2022-07-01 $1,695,000 (14.1%) $2,771,383 (20.3%) 0.00 167
    2022-08-01 $1,616,250 (-0.5%) $2,626,382 (5.7%) 0.00 185
    2022-09-01 $1,584,750 (-0.8%) $2,459,578 (-1.5%) 0.00 191
    2022-10-01 $1,495,000 (3.1%) $2,398,252 (-0.4%) 0.00 203
    2022-11-01 $1,515,000 (-1.0%) $2,544,280 (-7.8%) 0.00 206
    2022-12-01 $1,545,000 (3.4%) $2,687,551 (-7.1%) 0.00 211
    2023-01-01 $1,530,000 (13.3%) $2,847,728 (0.2%) 0.00 208
    2023-02-01 $1,582,000 (16.9%) $2,875,553 (-4.0%) 0.00 204
    2023-03-01 $1,636,250 (9.5%) $2,890,101 (-2.5%) 0.00 194
    2023-04-01 $1,875,000 (13.7%) $3,152,824 (2.8%) 0.00 183
    2023-05-01 $1,846,250 (8.2%) $3,147,776 (2.7%) 0.00 174
    2023-06-01 $1,788,750 (-1.3%) $2,992,349 (-2.8%) 0.00 186
    2023-07-01 $1,617,500 (-4.6%) $2,776,907 (0.2%) 0.00 210
    2023-08-01 $1,611,250 (-0.3%) $2,778,552 (5.8%) 0.00 216
    2023-09-01 $1,550,000 (-2.2%) $2,628,129 (6.9%) 0.00 217
    2023-10-01 $1,599,500 (7.0%) $2,647,573 (10.4%) 0.00 219
    2023-11-01 $1,572,000 (3.8%) $2,631,219 (3.4%) 0.00 220
    2023-12-01 $1,400,000 (-9.4%) $2,480,519 (-7.7%) 0.00 222
    2024-01-01 $1,561,000 (2.0%) $2,633,358 (-7.5%) 0.00 217
    2024-02-01 $1,631,194 (3.1%) $2,893,868 (0.6%) 0.00 214
    2024-03-01 $1,639,000 (0.2%) $3,046,500 (5.4%) 0.00 213
    2024-04-01 $1,461,250 (-22.1%) $2,850,667 (-9.6%) 0.00 235
    2024-05-01 $1,431,000 (-22.5%) $2,768,559 (-12.1%) 0.00 263
    2024-06-01 $1,395,000 (-22.0%) $2,645,380 (-11.6%) 0.00 289
    2024-07-01 $1,398,000 (-13.6%) $2,663,628 (-4.1%) 0.00 314
    2024-08-01 $1,399,000 (-13.2%) $2,455,462 (-11.6%) 0.00 306
    2024-09-01 $1,475,000 (-4.8%) $2,528,745 (-3.8%) 0.00 300
    2024-10-01 $1,468,750 (-8.2%) $2,487,126 (-6.1%) 0.00 305
    2024-11-01 $1,399,000 (-11.0%) $2,503,464 (-4.9%) 0.00 318
    Kapaa's median listing price for 2024-11-01 was $1,399,000, a difference of $-173,000 (-11.0%) versus the prior year and $-69,750 versus the prior month.

    Kapaa's median listing price comes in at 0% of the national average.

    Kapaa's average listing price for 2024-11-01 was $2,503,464, a difference of $-127,755 (-4.9%) versus the prior year and $16,338 versus the prior month.

    For the 2024-11-01 period, Kapaa had 318 MLS listings, a difference of 13 listings (4%) versus the prior month and 98 listings (45%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Kapaa (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,687 sqft
    2018-02-01 0 days 1,699 sqft
    2018-03-01 0 days 1,691 sqft
    2018-04-01 0 days 1,697 sqft
    2018-05-01 0 days 1,723 sqft
    2018-06-01 0 days 1,724 sqft
    2018-07-01 0 days 1,726 sqft
    2018-08-01 0 days 1,627 sqft
    2018-09-01 0 days 1,621 sqft
    2018-10-01 0 days 1,575 sqft
    2018-11-01 0 days 1,560 sqft
    2018-12-01 0 days 1,567 sqft
    2019-01-01 0 days 1,608 sqft
    2019-02-01 0 days 1,559 sqft
    2019-03-01 0 days 1,524 sqft
    2019-04-01 0 days 1,511 sqft
    2019-05-01 0 days 1,559 sqft
    2019-06-01 0 days 1,550 sqft
    2019-07-01 0 days 1,640 sqft
    2019-08-01 0 days 1,656 sqft
    2019-09-01 0 days 1,684 sqft
    2019-10-01 0 days 1,698 sqft
    2019-11-01 0 days 1,653 sqft
    2019-12-01 0 days 1,641 sqft
    2020-01-01 0 days 1,629 sqft
    2020-02-01 0 days 1,640 sqft
    2020-03-01 0 days 1,515 sqft
    2020-04-01 0 days 1,430 sqft
    2020-05-01 0 days 1,426 sqft
    2020-06-01 0 days 1,427 sqft
    2020-07-01 0 days 1,372 sqft
    2020-08-01 0 days 1,406 sqft
    2020-09-01 0 days 1,359 sqft
    2020-10-01 0 days 1,359 sqft
    2020-11-01 0 days 1,373 sqft
    2020-12-01 0 days 1,365 sqft
    2021-01-01 0 days 1,337 sqft
    2021-02-01 0 days 1,305 sqft
    2021-03-01 0 days 1,381 sqft
    2021-04-01 0 days 1,436 sqft
    2021-05-01 0 days 1,719 sqft
    2021-06-01 0 days 1,729 sqft
    2021-07-01 0 days 1,851 sqft
    2021-08-01 0 days 1,925 sqft
    2021-09-01 0 days 1,826 sqft
    2021-10-01 0 days 1,465 sqft
    2021-11-01 0 days 1,650 sqft
    2021-12-01 0 days 1,677 sqft
    2022-01-01 0 days 1,576 sqft
    2022-02-01 0 days 1,556 sqft
    2022-03-01 0 days 1,564 sqft
    2022-04-01 0 days 1,634 sqft
    2022-05-01 0 days 1,655 sqft
    2022-06-01 0 days 1,669 sqft
    2022-07-01 0 days 1,671 sqft
    2022-08-01 0 days 1,679 sqft
    2022-09-01 0 days 1,670 sqft
    2022-10-01 0 days 1,556 sqft
    2022-11-01 0 days 1,703 sqft
    2022-12-01 0 days 1,735 sqft
    2023-01-01 0 days 1,680 sqft
    2023-02-01 0 days 1,671 sqft
    2023-03-01 0 days 1,680 sqft
    2023-04-01 0 days 1,761 sqft
    2023-05-01 0 days 1,774 sqft
    2023-06-01 0 days 1,757 sqft
    2023-07-01 0 days 1,653 sqft
    2023-08-01 0 days 1,550 sqft
    2023-09-01 0 days 1,548 sqft
    2023-10-01 0 days 1,630 sqft
    2023-11-01 0 days 1,575 sqft
    2023-12-01 0 days 1,508 sqft
    2024-01-01 0 days 1,588 sqft
    2024-02-01 0 days 1,681 sqft
    2024-03-01 0 days 1,687 sqft
    2024-04-01 0 days 1,585 sqft
    2024-05-01 0 days 1,533 sqft
    2024-06-01 0 days 1,407 sqft
    2024-07-01 0 days 1,400 sqft
    2024-08-01 0 days 1,327 sqft
    2024-09-01 0 days 1,397 sqft
    2024-10-01 0 days 1,309 sqft
    2024-11-01 0 days 1,308 sqft
    Kapaa's median listing age (time on market) for 2024-11-01 was 0 days.

    Kapaa's median square footage for active listings during the 2024-11-01 period was 1,308 sqft. One year prior, the average listing was 1,575 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).