Hawaii VA Loans

In our previous blog post we explained how homeownership may not be as hard as you may think - especially if you are eligible for a VA Loan. We touched on a few benefits of VA Loans which include 100% financing as well as reduced closing costs. We also explained that current military personnel have an added benefit in that they already receive a monthly housing allowance to pay or subsidize their rent or mortgage payments.

Today HawaiiVALoans.com is introducing a new segment to our blog called “What Can Your Housing Allowance Buy?”. With this, we will feature a specific property for sale to give examples of how much buying power one would have by just using their monthly housing allowance to cover their mortgage expense (with no down payment).

Mahi Ko at Waikele - $349,000

94-529 Lumiaina Street, #D101
Waipahu, HI 96797

Living Area: 830 s.f.
Lanai (Patio): 92 s.f.
Bedrooms: Two
Bathroom: Two
Parking: Two
MLS #: 2810757

Description: Exceptional Value: GROUND floor, CORNER unit with fenced large yard and patio-great area for BBQ. Ready-to-move in condition freshly painted, with laminate flooring and w-w carpet. Renovated kitchen w/new granite counter top, cabinets, refrigerator and washer- dryer, microwave oven. Hall bathroom: new vanity, toilet, ceramic flooring. Updated light fixtures in living room & kitchen.

[Read More]

Our main goal here at HawaiiVALoans.com is to educate current military personnel and Veterans about their VA Loan Benefits. When you look at the benefits that the VA Home Loan Program provides compared to doing a conventional mortgage - you truly realize how advantageous it is to be a VA eligible home buyer.

In addition to these benefits, most current military personnel have another great advantage in that they currently receive a monthly housing allowance to pay or subsidize their housing payments. This housing allowance, also known as BAH, can range from $1491 - $3419 per month depending on rank and whether this person has dependents or not.

[Read More]