1/17/2024 0 Comments Mortgage calculator hawaiiThe mortgage cost, and ultimately owning the house, in Hawaii is probably a reflection of the desirability of living there.įor those who equate desirability with educational level and the percentage of adults who live in Hawaii, 85 percent of the populace is composed of high school graduates. Incidentally, housing and loans in Hawaii are considerably more expensive in the case of the former and somewhat higher in general for the latter. This study, compiled as the Gallup-Healthways Well-Being Index, was published by USA Today. It was found that Honolulu Hawaii ranked third happiest overall. Each city was evaluated by nearly 400,000 respondents on their community life, how the locals feel, the moods, the general health of the populace, personal finances, and the available job opportunities. This year research was done into which cities in the United States were the happiest. There is a difference which varies between 0.29 percent, the lowest, to 2.6 percent, the highest (1 year ARM). Adjustable rate mortgages (ARM) in Hawaii are consistently higher than the national median. For Federal Housing Authority loans, thirty-year, the rate is the same for both at 5.68 percent. For certain terms, Hawaii’s rate is slightly lower currently than the national rate (i.e. It starts at 4.63 percent for the ten-year fixed and moves up to 6 percent for the forty-year fixed. When it comes to mortgage rates, on the other hand, Hawaii’s is similar to the national rate in fixed mortgages regardless of the term (i.e. Mortgage Rate Comparison with National Rate Furthermore, the median asking price for these units is more than twice that of the national median at $211,400. For owner-occupied housing units, the median value for Hawaii is more than $250,000 while, in comparison, the national median is only slightly more than $100,000. As a point of reference, the median and average listing price in Hawaii is greater than $500,000 and $900,000 respectively.Ī recent Hawaii census indicates that the value of housing units when compared with the national median is also significantly higher. When compared according to median price, Washington DC, the top state, is more costly than Hawaii, second ranked, by about half. It is about fifty percent higher than that of Washington DC and New York and, it is nearly twice that of California’s. In terms of average listing price, real estate in Hawaii costs significantly higher than that of other American states.
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