— REFINANCE
Refi Possible Affordable
Mortgage Refinance
Freddie Mac’s refinance program designed to help eligible Hawaii homeowners reduce their interest rate and monthly housing payment.
— ABOUT Refi Possible
Refi Possible Affordable Mortgage
Refinance in Hawaii
Refi Possible® is a refinance program offered through Freddie Mac to help eligible low- and moderate-income homeowners take advantage of lower interest rates and improve monthly affordability.
Pacific Home Loans provides Refi Possible refinance options for qualified borrowers throughout Oahu, Maui, Hawaii (Big Island), and Kauai.
→ Hawaii Mortgage Refinance Option
Multi-State Availability
Pacific Home Loans provides refinance solutions in multiple states, including Hawaii, California, Nevada, and other markets where we are licensed.
While this page focuses on Hawaii-specific guidance, Refi Possible® may be available in other states based on borrower eligibility, loan ownership, and program guidelines.
— REFINOW PROGRAM
Who is Refi Possible
is Designed For
- Homeowners with an existing Freddie Mac-backed mortgage
- Borrowers refinancing a primary residence
- Income at or below 100% of the Area Median Income (AMI)
- Borrowers who may not qualify under standard refinance guidelines
This program expands refinancing access while maintaining Freddie Mac underwriting standards.
Key Refi Possible Program Features
- Designed for owner-occupied 1-unit primary residences
- Eligible property types include single-family homes, certain condominiums, and PUDs
- Potential appraisal credit up to $500, if appraisal is required
- Fixed-rate mortgage options up to the county conforming loan limit
- Limited cash-back up to $250, subject to guidelines
All features are subject to current Freddie Mac guidelines and lender overlays.
— Refi Possible QUALIFICATION
RefiNow Qualification
Requirements
Property & Eligibility Guidelines
Eligible properties include 1-unit primary residences, single-family homes, and eligible condominium projects. Condotel properties are not eligible.
Borrowers must:
- Have an existing Freddie Mac-owned loan
- Occupy the property as their primary residence
- Have income at or below 100% of Area Median Income
- Have no missed mortgage payments within the required review period
- Meet applicable credit and underwriting standards
Underwriting Flexibility
Refi Possible may allow higher allowable debt-to-income ratios compared to standard refinance programs (subject to guidelines) and loan-to-value ratios up to 97%, depending on eligibility. Freddie Mac does not impose a universal minimum credit score for this program; however, lender overlays may apply.
Hawaii Area Median Income (AMI)
AMI limits vary by county and are updated periodically. Counties include Honolulu County, Maui County, Kauai County, and Hawaii County (Big Island). Borrowers should confirm current AMI limits at the time of application using the official Freddie Mac AMI lookup tool (external link).
Refi Possible vs Other Refinance Options
If you do not qualify for Refi Possible, Pacific Home Loans also offers RefiNow (Fannie Mae), conventional rate-and-term refinance, FHA Streamline Refinance, VA Streamline (IRRRL) Refinance, and cash-out refinance options.
→ RefiNow Streamline Refinance
→ Hawaii Mortgage Refinance Options
→ FHA Streamline Refinance
→ VA Streamline Refinance
Condo & Structured Refinance Considerations
If refinancing a condominium in Hawaii, project eligibility requirements may apply under conventional guidelines. For non-warrantable or resort-designated condominium refinance scenarios, specialized solutions may be available.
