Home Loans Hawaii – Use USDA Home Construction Loans for Hawaii
Want to build a new home in Hawaii? Now it is possible to do so with help of USDA home loans. Anyone who has been trying to get a loan for buying or building a home knows how difficult it is to get a loan. Even if you have high credit scores and huge collaterals, securing a loan can be very tough. With USDA loans, things can be a lot easier. Call us today to know how you can avail USDA home loans in Hawaii.
Read on to find out more about Hawaii and what to expect if you’re planning to relocate to the state.
There was a steady decline of the population in Hawaii after the arrival of Americans and Europeans but it started rising when Asian settlers arrived in Hawaii as migrant laborers towards the end of 19th century. At present the population of the state stands at 1,419,561 as on 1st July 2014. Often called “The Aloha State” or “The Islands of Aloha,” this state covers an area of 10,931 sq miles.
Quality of Life in Hawaii
Hawaii is an ideal destination for travel as well as building a home. The weather is wonderful and if you are an outdoor enthusiast, there are many recreational options you can avail. The distance of the mainland from Hawaii is the largest to any other island in the world. This makes for a higher cost of living compared some states. However, the high wages compensates for the high cost of living in Hawaii.
Education in Hawaii
Only school system is present in the state of Hawaii. The first public charter school to be controlled by the natives was Kanu O Ka Aina New Century Charter School. The Pacific Buddhist Academy is the second Buddhist school in U.S and the first of its kind in Hawaii. The University of Hawaii System consists of seven community colleges and the research university at Mānoa with two campuses at Hilo and West Oʻahu.
Jobs and Business opportunities in Hawaii
In early days the economy of Hawaii was mostly dominated by industries like sugarcane, sandalwood, whaling, tourism, education, etc. Since it has been declared a state, the main dominant industry is the tourism industry. Hawaii imposes a relatively higher state tax. Millions of tourists coming down to this place also pay tax inform of hotel room tax and general excise tax.
- Unemployment Rate: 5.9%
- Job growth in past 1 year: -3.85%
- Project job growth next 10 years: 26.4%
- Median income of household: $90,946
Facilities and local amenities in Hawaii
Oahu is the main attraction for tourists and it is home to numerous restaurants and hotels, many fun activities, like snorkelling, longboard surfing, hiking etc. There are many state parks, historical parks and recreational areas in Hawaii.
Hawaii puts heavy emphasis on preventive care so the Hawaiians need hospital treatment less frequently. Businesses are required to insure the employees who work more than 20 hours each week. The state is well connected with other parts of U.S which makes living easier for the residents.
Hawaii Crime Index
The annual crimes per 1,000 residents is 33.05.
Property and home Value in Hawaii
The median home value in Hawaii is $537,300.
USDA home Loans Hawaii – The Best Option for Constructing a New Home
At present, USDA offers two types of home construction loans – one, for building a new home or adding extra building to an existing property. The second option is strictly for commercial properties. The first loan option allows people to build, repair or add new structures to an existing property. To apply for a USDA home loan in Hawaii for new construction, make sure you have an average credit score and have a steady income source so that you can bear the monthly mortgage payments.
Interested to know more about USDA home construction loans in Hawaii? Call us today!