A VA Home Loan is a way to buy a home in Hawaii if you are serving or have served our country. If you meet the criteria, then the VA Loan is definitely the way to go. Let Tiare Fullerton of Mortgage Associates of Hawaii guide and direct you through the process. Some of the main benefits that a Hawaii VA home loan can give you can be found below. Want to find out more and start the process? You are only a phone call or email away. Tiare Fullerton is the #1 VA Home Loan specialist in the islands and she is ready to get you started on your VA Home Loan buying adventure in Hawaii. Contact her directly today to find out more.
Hawaii VA Home Loan Benefits
- Worried about a down payment? Don’t. With a VA Loan it is possible that you will not have to make any down payment. Up to 100% financing is also available (up to $750,000 including VA funding fee)
- Up to $721,050.00 in Honolulu and $625,500 in all other counties. (For one to four unit residential properties.)
- VA guaranties 25% of the lesser of the appraised value or the sale price of the home allowing the veteran not to have to pay for PMI.
VA Refinancing Benefits
- The Veteran can refinance their current VA loan to reduce their interest rate and include closing costs without the stress of having to provide all the paperwork again. This is called a VA streamline refinance and the paperwork requirements are significantly reduced. qualifying, regardless of property value.
- The seller can pay all or part of the closing costs associated with the process and closing of the mortgage.
- Disabled veterans rated at 10% or higher are exempt from funding fee.
- Pay your loan off as quick as you would like. There are no prepayment penalties.
- Cash out refinances up to 90% of appraised value.
*Please visit our Disclosures page for more details for all loan types.
*As much as $750,000.00 at 100% for residential properties on Oahu. VA Jumbo loans over $750,000 and no more than $1,500,000 require 25% of the amount over $750,000 as a down payment.
*Loan limits change every year, so if you are thinking about a VA loan make sure of the current loan limit. It changes every January. You can view the current Hawaii VA loan limits in all 5 counties here.