I Would You Like To ...
Call 808-792-4250 To speak with a VA Loan Specialist
Find A VA Home Specialist Condo Eligibility Check VA Loan FAQ's
Welcome To Hawaii VA Loans.com
There are thousands of Veterans and Active Duty service personnel in Hawaii, almost all of whom are eligible for the VA Guaranteed Home Loan program. With the special benefits the VA Guaranteed Home Loan program offers, it's almost always the best choice of financing available to eligible Veterans.
Hawaii VA Loans Education Center The Latest News, Tips & Updates From Our Blog
What Can Your Housing Allowance Buy (8/13/08)? (August 14th, 2008) This is our second installment of our segment, "What Can Your Housing Allowance Buy?", in which we feature properties currently for sale and determine what pay rank in the military you need to be in order to have your housing allowance cover the the mortgage payments (with no down payment)... continue reading
Top VA Loan Benefits
- 1. 100% Financing: No Down Payment Necessary - you don't need very much in your bank account to be a homeowner.
- 2. No Mortgage Insurance: Usually when a borrower does not put a 20% down payment, the lender requires the borrower to purchase Mortgage Insurance which insures the lender in case the property goes into foreclosure. Mortgage Insurance (typically an extra $150-$400 a month) is not required with VA Loans.
- 3. Reduced Closing Costs: Because certain costs are not allowed to be charged on VA Loans, VA borrowers save an average of $1500 - $2000 in closing costs compared to costs associated with obtaining a conventional mortgage.
- 4. Flexible Qualifying Guidelines: VA Loans do not have a minimum credit score requirement. VA eligible borrowers with below average credit scores have a greater chance of qualifying via a VA mortgage than they would with a conventional mortgage.
- 5. Lower Rates: Typically, rates for a 100% financing on a VA Loan can be about 1/4 % or more lower than 100% financing with a conventional mortgage.
- 6. Loan Amounts up to $625,500: Hawaii & Alaska are the only 2 states which have a VA Loan limit of $625,500. Every other state is limited to loans up to $417,000. Get qualified today to take advantage of this loan amount that 48 other states don't have.
The Home Buying Process
- 1. Get Qualified: Fill out the VA Loan Request form or call VA Loan Specialist at 808.792.4250. A VA Loan Specialist will determine how much you qualify for as well as your estimated monthly payments.
- 2. Contact a VA Home Specialist: If you don't already have a real estate agent, go to our VA Home Specialists section to review our list of qualified agents that can help you find the home that fits your specific needs.
- 3. Narrow Down List of Properties: Based on the loan amount you are pre-qualified for, your VA Home Specialist will send you a list of properties that fit your specific criteria. From that list, you'll need to narrow it down to a select few so that your VA Home Specialist can schedule a showing with the seller's agent. Keep in mind that not all condominiums are eligible for VA financing, so if you thinking of purchasing a condo, first check our Condo Eligibility Check page to see if your particular condo is approved for VA financing.
- 4. View Properties: Once you have narrowed down the list, it is time to see the properties for yourself. This is where you can really decide which home will be the best fit for you and your family.
- 5. Submit Offer: Once you decided which house you would like to purchase, your VA Home Specialist will draft up an offer which will be accompanied by a pre-qualification letter from your VA Loan Specialist.
- 6. We'll do the Rest: Once the offer is accepted, sit back and relax as your VA Loan Specialist, VA Home Specialist & Escrow Officer handle the nuances of your purchase transaction. The process typically takes 30-45 days. After which, you will come in and sign the final loan documents. When this is complete, you will receive your keys and officially become a homeowner. It is really that simple - Get Started Today!
Hawaii VA Loans.com is not affiliated with any government agencies. Hawaii VA Loans.com is an informational website provided by VA Approved Lender, HomeLoan Financial - a division of Land/Home Financial Services, Inc. All Content Copyright © 2007-present Hawaii Va Loans.com. All Rights Reserved.