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Can I get a mortgage in lava zone 1?

Can I get a mortgage in lava zone 1?

Mortgage giant Fannie Mae officially declared in its June selling guide that it would no longer purchase or securitize mortgage loans in the Big Island’s lava zones 1 and 2, where the probability of lava flows is greatest.

Can you get a loan in lava zone 2?

HomeStreet Bank now offers home loans for qualified residents on the Big Island for the purchase or refinance of owner-occupied homes, second homes and investment properties in Lava Zone 2.

How do you determine if a property is in a lava zone?

When looking at the map remember that the lower the number of the zone the higher the probability of a lava-flow hazard. The boundary lines on the map are approximate and not distinct, so if you aren’t sure what zone your property falls in – your LUVA Realtor can help you determine.

What does lava zone 3 mean?

Zone 3 – Areas less hazardous than zone 2 because of greater distance from recently active vents and (or) because of topography. 1-5% of zone 3 has been covered since 1800, and 15-75% has been covered within the past 750 years.

What lava zone is Pahoa in?

The town of Pāhoa is within Lava Zone 2, a low-laying area at high risk for lava flows due to its close proximity to the East Rift Zone of Kīlauea volcano.

What do lava zones mean?

Lava zones are land categories based on the potential hazard that lava will flow in a given area. The Big Island has nine lava zone. As the numbers increase the hazard decreases so, Lava Zone 1 has the highest risk which includes areas of the current lava eruption.

Which Lava Zone is Pahoa in?

How Safe Is Lava Zone 3?

Let’s Talk About Lava Zones Zones 3-9 are considered “low risk” due to being protected by topographical barriers, being down-slope from the dormant Mauna Kea, or by virtue of not having been overrun by lava in the last couple of centuries.

Which lava zone is Pahoa in?

Is it safe to live in lava zone 2?

Lava zone 2 is considered less risky than lava zone 1. According to Wikipedia, 25% to 75% of lava zone 2 has had lava active since 1800, and the risk gets smaller the farther from lava zone 1 you buy.

Is Pahoa safe from volcano?

Civil Defense has been very pro-active in monitoring safety issues, and Pahoa is safe. There are occasional days when air quality is an issue, but those are relative few. In our area we do not object to vacation rentals or visitors, even under the current trying circumstances.