Hawaii VA Loan

New VA Home Loan Limits Coming January 2020!
Starting Jan. 1, 2020, when the new law takes effect, the VA will not cap the size of a loan a veteran can get with no money down, paving the way for veterans to buy higher-value homes; however, the lender may still issue a cap and deny a large loan.

hawaii va loan

Will VA loan limits increase in 2020?
VA funding fee to increase:
The fee for first-use, zero-down loans will be 2.3% of the loan amount in 2020, up from 2.15% for regular military in 2019.
The fee for subsequent use loans will be 3.6% of the loan amount, up from the current 3.3%.

The Pacific Home Loans Hawaii VA Loan is available for veterans looking to refinance or purchase their home.

*See VA Streamline refinance for a no doc refinance option.

There are several reasons why a VA Loan may be preferable to a standard loan. Most importantly, upon qualification, you may obtain a VA Loan even if you do not qualify for other types of loans.

VA Loan Benefits:

  • 0% down
  • No monthly mortgage insurance (PMI)
  • Discounted interest rates
  • No cash due at closing possible
  • Flexible underwriting
  • Great for first time home buyers

Hawaii VA Jumbo Loan

VA is not just for the First-time Home Buyer. Are you shopping for a Hawaii Jumbo loan and a veteran of the U.S. Armed forces?

Hawaii VA Jumbo Loan Features:

  • VA Jumbo loans up to $1,000,000
  • No monthly mortgage insurance (PMI)
  • Discounted interest rates
  • Flexible underwriting

VA Jumbo Loan Down Payment Options:

The VA jumbo loans offer low down payment options. These loans require 25% down for any amount over the conforming loan limit. See the county conforming loan limits and calculation example below.

Hawaii conforming loan limits by county are:
Oahu $822,375
Maui $822,375
Kauai $822,375
Big Island $822,375

How to calculate the minimum down for your Hawaii Jumbo loan:

Calculation Example: Oahu $1,000,000 purchase

Subtract the purchase price from the applicable state conforming loan limit: Oahu $822,375.

– $822,375
= $177,625

$177,625 x 25% = $44,406.25

The minimum down for an Oahu $1,000,000 purchase financed with VA jumbo loan is $44,406.25.

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Tel: (808) 891-0415
Toll Free: (866) 389-2778
2395 S Kihei Rd #205
Kihei, HI 96753
Hours: M-F 8am to 5pm Hawaii Time

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