VA Loan Limits In Honolulu Real Estate!

September 19th, 2008 categories: Mortgages & Financing

Moi

Believe it or not, the Veteran’s Administration (VA) maximum loan for houses and condos in Honolulu real estate is $793,750 (source: Tim O’Leary, Home Loans Direct).

What does this mean? If you have served in the armed services (thank you if you have!), the VA has one of the best “no down” programs around. Traditionally (prior to sub-primes), the VA was one of the only loans that allowed little or no down payment. The bottom line is this, a veteran in Honolulu can buy a home at a price up to $793,750 with little or no down payment.

In the past VA loan amounts would lag behind market values. Which meant it was a great loan, but because the loan amounts were so low it was not realistic for a Vet to buy anything other than a small condo. Oahu’s median price for houses is $635,000, so the VA provides a terrific way for getting into a house.

Today’s picture is the view from the 5th floor of the Japanese Cultural Center in Moi’ili’ili.

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