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Samer S.'s profile image
Samer S.'s profile image
Samer S.
  • Member since Jan 12, 2021

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Samer S.'s profile image
Samer S.'s profile image
Samer S.
  • Member since Jan 12, 2021
Samer S.
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Short-Term & Vacation Rental Discussions

High interest rates for STR in Maui

Samer S.
Posted

We were thinking of putting an offer for a short term vacation condo in Maui Hawaii (~400k) but decided to not go forward with it because of high 3.75% interest rate for 30 yr Fixed, 20% down. We knew that STR's fall under non-warrantable loans but didn't expect the rate to be that high.

i have excellent credit score and can easily afford the unit. Does anyone have any suggestions? Are the non-warrantable rates this high only in Hawaii?

At these interest rate, STR's seem to be bad investment :(

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Janice V.'s profile image
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Janice V.
  • Rental Property Investor
  • from Maui, HI
  • Member since Sep 5, 2017

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Janice V.'s profile image
Janice V.'s profile image
Janice V.
  • Rental Property Investor
  • from Maui, HI
  • Member since Sep 5, 2017
Janice V.
  • Rental Property Investor
  • Maui, HI
32
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Janice V.
  • Rental Property Investor
  • Maui, HI
Replied

@Samer S.

You may want to shop around for a better rate..

STR lender here on Maui are pretty tight right now but I am closing a STR with a client at 3%, 20% down.

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