Lava zones can play a role in whether you can get a mortgage. They relate specifically to areas designated by the U.S. Geological Survey for the island of Hawaii. First created in 1974 and then revised in 1992, lava zones are the associated risk from the five volcanoes that comprise the island of Hawaii. There are nine lava zones identified. As the numbers increase the potential hazards decrease. Therefore lava zone 1 is ranked as highest risk while zone 9 is lowest. To mitigate risk, lenders will typically not provide financing to homes in lava zone 1 or 2. Zone 1 includes summits and rift zones of Kilauea and Mauna Loa volcanoes that have been highly active historically. When looking into real estate in this area be cognizant of these perils and understand where you run the greatest risk of dangerous flowing lava. I’m Stewart Brown, a licensed Mortgage Loan Originator in Palm Springs, California here to simply topics in Real Estate and Mortgage Lending. Please, like, share, follow and subscribe!
