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What Buyers Need to know about VA Loans

In case you didn't know, Rent is REALLY high in Hawaii! If you're in the military on Oahu and thinking about escaping the rental trap and buying, you should utilize a VA loan to take full advantage of your benefits.  

Any active duty, veteran, reservist, and National Guard are all eligible. Remember, you can still use your VA benefit if you have another home elsewhere with a VA loan.

Why is a VA Loan Better?  

No down payment is required to do a VA loan up to $721,050.  You can buy a house worth more than that and still use a VA Loan as long as you put down 25% of the difference up to $1.5M.

No mortgage insurance! With most loans, putting almost no money down would mean that you need to pay mortgage insurance on top of your monthly mortgage payment. 

Competitive fixed and adjustable rates, that are usually below a conventional loan rate.

No early loan repayment penalties.  You can also roll all of the costs of buying, into your loan.

Are There Limitations?  

There are two main limitations:

  1. You must be an owner-occupant and the home must be your primary residence
  2. No leasehold properties or vacant land purchases are allowed.

There are a handful of other, minor constraints that I can help guide you through but nothing else that will guide your buying decision.  

Honolulu is a fast moving, high-rent, highly competitive, solid appreciation real estate market. Finding you the perfect home is the hard part, qualifying for the loan is easy!  

Let us Guide you

Having the right realtor and lender that know how to position your offers and get what you want is key. Let us make your benefit work for you! Give us a call today and start your journey towards a solid financial future! 


Sherrie Kuroda (R), Partner


Phone: (808) 255-3074

E-mail: Sherrie.Kuroda@locationshawaii.com

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Timothy Bui, Home Loan Originator

Office: (808) 225-5592
Office Fax: (808) 255-0687

E-mail: tbui@compasshawaii.com