Being a former Marine stationed on Marine Corps Base Hawaii, I have an in-depth understanding of the everyday challenges that military personnel face.

VA Advantages

  • No down payment on sale prices up to $741,250.00 in the county of Honolulu, all other counties in Hawaii $625,500.00.  Down payment of 25% of the difference is required for sale prices over this amount.
  • The entire down payment and closing costs may be gifted (a relative can give you these funds).
  • Seller may pay all closing costs and up to 4% of the sales price towards funding fees and debt pay-off.
  • No monthly mortgage insurance.
  • No prepayment penalty.
  • Assumable subject to VA approval.
  • Interest rates and discount points are freely negotiated between the borrower and the lender.
  • Property: 1-4 Family Homes, including townhouses or condo units in VA and FHA approved projects are eligible, as well as new construction.

MORE VA INFORMATION

LEASEHOLD PROPERTY:  The loan term cannot exceed the fixed portion of the lease.

CO-BORROWERS:  Restricted to the veteran's spouse or to another veteran who will be an occupant.  In the event two non-married veterans purchase a home together, the entitlement used will be split evenly between them.

CO-SIGNERS:  Not allowed

REFINANCING:  Interest Rate Reduction Refinances (IRRRL'S) with no credit qualifying or appraisal can be done at anytime provided the veteran had occupied the home as his principal residence.  On a regular or cash-out refinance, the veteran may refinance upto 100% of the appraised value including closing cost and funding fee up to $625,500.00. Refinancing 90% of the value of the property  $741,250.00  in Honolulu County, all other counties in Hawaii $625,500.00

ASSUMABILITY:  Loans closed prior to 3/1/88 are fully assumable at any time without release of liability.  Loans closed after require a credit worthiness review by V.A. or the lender.

HOW DO VETERANS OBTAIN THEIR CERTIFICATES OF ELIGIBILITY?

CERTIFICATE OF ELIGIBILITY:As a full service lender, we will order your Certificate of Eligibility (COE) for you.  You will need to complete the following:

STATEMENT OF ACTIVE MILITARY SERVICE:  Active Duty Personnel should obtain a "Statement of Active Military Duty" from their Commanding Officer, reflecting current rank and length of service, as soon as possible.  We can email a blank one to you.

VA BENEFIT RELATED INDEBTEDNESS:  If you are a disabled veteran, the funding fee can be waived.  Provide a bank statement reflecting VA disability pay and we will file for your exemption.