VA fixed rate As a benefit to veterans, the Department of Veteran Affairs guarantees repayment of loans made to veterans with no down payment in most cases and liberal qualifying guidelines. This makes it easy for veterans to finance their homes.
Borrowers Features Low Cash To Close • Up to 100% financing • Seller can pay all closing costs, discount points, with no limit! • Seller can pay prepaids, funding fee and temporary buy down funds up to a maximum of 4 points • No cash reserves required after closing Home Affordability • Single qualifying ratio • Alternative income sources must continue only 5 years Easy Qualification • No cash reserves required after closing • Liberal qualifying ratio • Alternative income sources must continue only 5 years Convenience • Speed of Light!"software — application on diskette* Speed • VA loan in house underwriting* Special Advantage • Some loans are assumable with qualifying
County Name Single Family Home * ($0 Down, Up To) Maximum Guaranty *
HAWAII $625,500.00 $1,000,000
HONOLULU $783,750.00 $1,000,000
KALAWAO $656,250.00 $1,000,000
KAUAI $775,000.00 $1,000,000
MAUI $681,250.00 $1,000,000
No PMI (private mortgage insurance). VA guaranties 25% of the appraised value of the home allowing the veteran not to have to pay for PMI The seller can pay all or part of the closing costs associated with the process and closing of the mortgage. No prepayment penalties. Cash out refinances up to 100% of apprasied value up to $625,500.00 including funding fee for all Counties or 90% of appraised value up to $783,750.00 in Honolulu County, Maui County $681,250.00, Kauai County $775,000.00 and Hawaii County $625,500.00 No Down Payment is required. (Up to a total loan amount of $783,750.00 including financed funding fee on purchase transactions, in the county of Honolulu County.) Maui County $681,250.00, Kauai County $775,000.00 and Hawaii County $625,500.00 Disabled veterans are exempt from funding fee. The Veteran can refinance their current VA loan to reduce their interest rate and include closing costs without qualifying, regardless of property value.