Kapaa FHA Loan Rates, Closing Costs & Stats

Kapaa, HI

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 6.81% for the week of 2024-06-07, compared to the national average (all FHA variants) of 6.692% for the same period.

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

The average rate for the prior week (2024-05-31) was 6.59% and one month ago for the week of 2024-05-03, the average rate was 6.89%.

The average rate one year ago was 6.56%.

For refis of the same type during the week of 2024-06-07, the average rate was 5.63%.

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
Kapaa's median listing price for 2024-05-01 was $1,431,000, a difference of $-415,250 (-22.5%) versus the prior year and $-30,250 versus the prior month.

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

Kapaa's average listing price for 2024-05-01 was $2,768,559, a difference of $-379,217 (-12.1%) versus the prior year and $-82,108 versus the prior month.

For the 2024-05-01 period, Kapaa had 263 MLS listings, a difference of 28 listings (12%) versus the prior month and 89 listings (51%) 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
Kapaa's median listing age (time on market) for 2024-05-01 was 0 days.

Kapaa's median square footage for active listings during the 2024-05-01 period was 1,533 sqft. One year prior, the average listing was 1,774 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).