The Department of Veterans Affairs (VA) has unveiled a new loan assistance program for Veterans following the VA’s post-pandemic foreclosure halt. Termed the Veterans Affairs Servicing Purchase program, or VASP, it extends low-interest loans to Veterans confronting foreclosure due to financial difficulties. Moreover, VASP caters to Veterans ineligible for other VA loan assistance programs. It offers a lifeline to those facing the imminent loss of their residences. Here’s a breakdown of the program: VA’s New Loan Assistance Program for Veterans The Veterans Affairs Servicing Purchase program ..read more

In the heart of Honolulu, amidst the hustle and bustle of a city park, I had the privilege of meeting a man whose life story left me both inspired and astonished. As my son practiced baseball in the early morning sunlight, I found myself engaged in conversation with a remarkable individual – a man in his early sixties, dedicated to the upkeep of our community’s green spaces. Our conversation initially centered around baseball, a sport that binds communities and ignites passion in young and old alike. However, it wasn’t long before the discussion veered towards the man’s upbringing on the pict ..read more

Over the years, we’ve helped hundreds of VA buyers enter the market by purchasing their Hawaii condos. We’ve even gone on personal visits to follow-up on our customers’ satisfaction with their condo purchases! While doing so, it’s hard not to notice the commonality of ease among our condo dwellers. So we decided to explore this state of comfort by looking at what there is to love about condo life in Hawaii. You’ll see that buying a Hawaii condo with your VA home loan benefits can offer several personal and financial benefits. Check them out below! 1. Lower Purchase Price Generally, condos in H ..read more

For many, living in Hawaii is a dream come true. Often times, those who move away from the islands talk about a withdrawal period they experience when readjusting to life on the mainland. It’s true, spending any amount of time in Hawaii can really impact a person’s state of mind. Even more, buying a home in Hawaii can offer several long-term benefits. The combination of personal and financial advantages are too good not to discuss. Without further ado, here are 8 great long-term benefits of Hawaii home buying: Personal Benefits of Living in Hawaii Natural Beauty: Hawaii is renowned for its st ..read more

The VA has established specific guidelines for appraisals to ensure that properties financed with VA loans meet minimum standards for safety, habitability, and value. Thus, the goal is to ensure that the home is suitable for a veteran to live in. Issues such as peeling paint, damaged roofs, and other health or safety concerns might be scrutinized more closely compared to conventional appraisals. Here are some key aspects of the VA appraisal guidelines: VA Appraisal Minimum Property Requirements (MPRs) The property must meet certain minimum standards set by the VA. Therefore, MPRs cover various ..read more

The Overseas Cost of Living Allowance (OCOLA) is a financial entitlement provided to U.S. military servicemembers stationed outside the contiguous United States (OCONUS) where the cost of living is higher than in the continental United States (CONUS). Although Hawaii is a U.S. state, it is considered an overseas duty location for military pay and benefits purposes. This leads to the eligibility of Hawaii-based servicemembers for Hawaii COLA (we drop the “O”). Hawaii COLA & How It’s Calculated For Hawaii servicemembers, COLA aims to mitigate the elevated living expenses associated with the ..read more

We love a good home buying story! This particular one involves our 100% financing Hale ‘Ohana Loan Program. It’s our newest FHA loan program option available to non-VA buyers here in Hawaii, and like our VA home loan program, it requires no down payment! Paul and Tarah came to us with a dream to own a home, but they had some obstacles. We analyzed their situation and found that the Hale ‘Ohana Loan Program would be the best fit for them. Find out more about their story below. Their Dream Paul and Tarah desired to purchase a single family home in Waianae, which is on the west side of Oahu. In N ..read more

The 2024 Basic Allowance for Housing (BAH) rates take effect on January 1, 2024. For active duty servicemembers moving to Oahu in 2024, these are their monthly rates for housing. For servicemembers already stationed on Oahu, their BAH rate will be the higher of their current rate or the new 2024 BAH rates. Take a look at the new 2024 BAH rates below. Then, see the estimated purchase prices for Oahu condos using BAH alone for the monthly mortgage payment. 2024 BAH Rates for Honolulu County, Hawaii Source: Defense Travel Management Office Grade With Dependents Without Dependents E01 $3 ..read more

The 2024 VA loan limit in Hawaii is NO LIMIT for VA borrowers with full entitlement, but there is a VA loan limit for borrowers with an outstanding VA loan or prior VA loan default. That limit is calculated using the FHFA Conforming Loan Limit for 2024 of $1,149,825 for Hawaii! That’s a $60,525 increase from 2023. VA Buyers with Full Entitlement VA loan eligible borrowers with full entitlement are: first-time users of their VA loan borrowers who used their VA loan benefit in the past, but do not have an outstanding VA mortgage borrowers with no prior VA loan defaults VA buyers ..read more

Morgan Stanley analysts recently delivered a report to investors with their views on the U.S. economy, housing market, mortgage rates, and bond market in 2024. The three factors that improve housing affordability are falling mortgage rates, rising incomes, or falling house prices. Together, Morgan Stanley believes they will create an improvement in housing affordability. Morgan Stanley analysts believe that in 2024: the U.S. economy will avoid a recession incomes will continue to rise mortgage rates will decrease slightly* U.S. housing activity will pick up a little *Morgan Stanley did not ..read more