I am so amazed by how many Realtors and lenders in Hawaii shy away from VA loans.
- The VA does not look at credit scores, making qualifying easier in some cases
- Lower closing costs
- Lower monthly payments; Federally guaranteed, no risk to lender, no mortgage insurance
- Automated loan processing in most cases. Can close faster than conventional loans in most transactions.
- One of of the few types of mortgages that are assumable. A potential big deal in the future if interest rates were to climb.
- Higher closing rate for VA loans over conventional loans.
The VA cap in 2006 is $625,000. The Honolulu Basic Housing Allowance (BAH) for Military ranges from the low of $1355/ Month for an E-1 with no depoendants to $3388/ month for O-7 and above with dependants.
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Randy L. Prothero, REALTOR®, ABR, AHWD, CRS, e-PRO, GRI, SFR
Century 21 Liberty Homes
Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers. His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.
Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) and the Leeward Regional Chairman of the Honolulu Board of Realtors. To improve overall professionalism in his area Randy also offers classes for real estate agents.
www.HawaiiRandy.com * Oahu (Honolulu County) Property Search * Hawaii Military Relocations
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Go VA!!!! You know I love those VA loans. Don't be scared......they don't bite. They are easy and all of the stigma from the past about low appraisals is not true. VA wants to be in the fight and they want to help the veterans to get a loan. If the house isn't overpriced then there shouldn't be any problems.