15-Year Fixed Mortgage Refinance Interest Rates in Kailua-Kona, HI

Compare mortgage rates in Kailua-Kona, Hawaii

Showing results for: 15-Year Fixed refinance offers for Single Family or Townhome properties in HI, total loan amount of $228,000.

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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Rates and fees are estimates and subject to change without notice. Payments do not include taxes and insurance premiums. Actual payments may be higher. Not all lenders participate in this marketplace. Loan availability and terms may vary by state and lender. Lender offers, including badges like “Lowest APR” or “Lowest Payment,” are based only on results displayed here and may not reflect the absolute lowest offer available in the market. Rate and product details

How Much Interest Can I Save with a 15-Year Refinance in Kailua-Kona?

Substantial savings in Kailua-Kona's stable market. Refinancing $548,560 from 30-year at 7% to 15-year at 6.5% cuts total interest from $765k to $312k-saving $454k over the loan's life. You'll pay more monthly ($1,129 increase), but every extra dollar goes to principal, not interest. With Kailua-Kona's 4.6% steady appreciation, you'll own your home outright in 15 years with significant equity gains from both paydown and market growth.

Should I Refinance to 15-Year or Stay in 30-Year in Kailua-Kona?

Refinance to 15-year in Kailua-Kona if you can comfortably afford $1,129/month more. Your total PITI payment (including $177/month property tax at 0.31%) rises from $3,977 to $5,106. Benefits: $454k interest savings, debt-free in 15 years, forced savings plan. Stay in 30-year if: you prefer payment flexibility, invest extra cash at higher returns, or want emergency fund cushion. With Kailua-Kona's 4.6% appreciation, both options build equity.

What's My Break-Even on a 15-Year Refinance in Kailua-Kona?

Break-even analysis differs for 15-year refis. With $13,714 closing costs and $454k total interest savings, you "profit" as long as you keep the loan beyond 5 months. However, the real value isn't monthly cash flow-it 's accelerated equity. In Kailua-Kona, each year of a 15-year mortgage builds approximately $362,050 in principal equity plus $31,542 in market appreciation. You're debt-free 15 years faster.

Can I Afford a 15-Year Refinance in Kailua-Kona?

Calculate your debt-to-income ratio. Lenders prefer DTI below 43% for 15-year mortgages. On Kailua-Kona's $685,700 median home, your $4,779/month P&I plus $177 property tax plus $150 insurance = $5,106 total. To qualify comfortably, you'd need household income around $218,829/year (assuming 28% housing ratio). Benefits if you qualify: own home in 15 years, $454k interest savings, rapid equity building in Kailua-Kona's 4.6% appreciation market.