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VA Loans are Such a Powerful Benefit/ Tool

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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.

Posted by Randy L. Prothero - Hawaii REALTOR® on 11/06/2006 04:15 AM

Comments (2)

hawaii, military, real estate, va, va loans, bah, housing allowance, schofield barracks, hickam, pearl harbor

Originally posted at: Hawaii Randy's Real Estate Opinions: VA Loans are Such a Powerful Benefit/ Tool

2 Comments on VA Loans are Such a Powerful Benefit/ Tool

NOV

2006

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.

We need more agents with your background and attitude.

VA loans are such a strong benefit to our vets. If they don't take advantage of them they are really missing out.

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