A important notice from our Loan Officer Alan Fentriss regarding dropping VA loan limits in Honolulu county (Oahu), all other islands/counties remain the same as previously:
Important news….
The VA loan limit for 100% financing is dropping from $741,250 to $695,750 for Honolulu County effective Jan 1, 2012.
The VA jumbo will still work the same way … If the purchase price exceeds $695,750 the buyer only needs to make a down payment of 25% of the amount over the loan limit. For example, on a $1million purchase the down payment would be $76,062. ($1,000,000 less $695,750, times 25%)
The limit for all other Hawaii counties will be $625,500 for 2012.
Please let me know if you have any questions.
Alan Fentriss
808-927-3401
Alan works closely with our Agents and our clients. Alan is always available to help you determine what kind of loan will work best for you, and remember getting pre-approved is the very important first step in buying a home in Hawaii!!
Comments(0)