Special offer

Using a Hawaii VA Loan to Pay Off Consumer Debt

Real Estate Agent with Hawaii Military Realty, Inc.

You know that you can use funds from a Hawaii VA Loan to pay off consumer debt, student loans and/or credit cards.  It is not a secret but many Military Veteran Home Buyers in Hawaii don't know how to benefit from this and many Buyers Agents in Hawaii don't know how to write the specific terminology in the contract in order for you to benefit from this.

You can receive a credit from a Seller of a house in Hawaii or a credit from a developer of a new construction home in Hawaii and use it to pay off your credit cards or other consumer debt.   This can only be done with a Hawaii VA Loan and not other programs such as USDA and FHA Loans.  As an example, if you buy a $350,000 single family house in Hawaii and the Seller credits you $10,000, you can use some of that money to pay off credit cards and/or other consumer debt in conjunction with your Hawaii VA Loan and that is in addition to using the money to pay off your closing costs and prepaids.  Buyers that I have represented in the past have paid off car loans, student loans and credit cards in conjunction with the purchase of their homes in Hawaii.

Call or email me if you would like any more information.  To search the Hawaii MLS for  homesfor sale on Oahu, visit my homepage at www.davidkucic.com and click on the link to search for homes.  My website is linked directly into the Hawaii MLS and you will be able to see ALL properties for sale on Oahu.

Erna Neal
The Viking Team, Realty - Winter Park, FL
A Knowledgable Central Florida Realtor

David, this is brilliant. I never knew this was possible, but it certainly is a big benefit to those who have served our country to reduce their debt and get their dream home. 

Dec 29, 2011 12:38 PM
1SG (Ret.) David Kucic
Hawaii Military Realty, Inc. - Ewa Beach, HI
President and Owner

It sure is Erna!  If you work with VA Buyers, please tell them about this so they can take advantage.  Happy New Year.

Dec 30, 2011 04:01 AM