Hawaii Randy's Real Estate Opinions: 2013 Hawaii VA Mortgage Limit for 100% Financing

2013 Hawaii VA Mortgage Limit for 100% Financing

Military LogosBeginning January 1st, 2013 the VA Mortgage limits for 100% financing for Hawaii will be going down slightly on Oahu (from $756,00 in 2012), the neighbor islands will remain the same.

  • For Oahu County is will be: $750,000
  • For all other Hawaii Counties it will be: $625,500.

VA Jumbo loans will be handled the same way as in the past.  Most of the Hawaii lenders require 25% down payment for anything over the limit.  For example a purchase of $1,000,000 on Oahu would require $67,500 down, compared to a conventional loan that would require $200,000 down or mortgage insurance.

If you are looking to purchase a home in Hawaii and you are considering using your VA benefit, please contact me and I can walk you through the process and put you together with other professionals who specialize in putting veterans into homes..

Good luck and happy house hunting!

 

 

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Randy L. Prothero, REALTOR®

Principal Broker, ABR, AHWD, CRS, e-PRO, GRI, MRP, SFR

Island Style Realty Inc.

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

Comment balloon 8 commentsRandy Prothero • December 24 2012 10:04PM

Comments

And that's the same for all the islands, right? Still a fairly high amount. Even though housing prices are quite a bit higher than here in Kansas.

Posted by Joel Weihe, Helping you to use your VA home loan benefits (Realty World Alliance) almost 5 years ago

Joel - Oahu is $750,000, the other islands are $625,500.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 5 years ago

It's still the only 100% financing there is and a great opportunity for vets!

Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Century 21 Liberty Homes) almost 5 years ago

Sally - We also have USDA, but it is only available in a few rural and less populated areas.  The benefits of VA are definitely so much better than anything else the lenders have available.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 5 years ago
Randy, seems like the change is not too much of a difference and that is a good thing. It is so important to help our veterans.
Posted by Christina Sanchez Hood, #SiliconValleyHOODS | Inspired Living almost 5 years ago

Christina - There was a big bump in the middle of last year for Oahu.  2013 is almost the same for Oahu (got to keep most of the big bump) and the same for the neighbor islands.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 5 years ago

Randy  this is some good Info for all in your market,  keep up the good work and good luck with your business in 2013,  E

Posted by Ed & Tracy Oliva, The Oliva Team Arizona Agents (West USA Realty - Arizona) almost 5 years ago

Ed & Tracy - Thank you, have a great 2013.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 5 years ago

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