The bottom line is that you can get a credit from a Seller of a home in Hawaii or a credit from a developer of a new construction home in Hawaii and use it to pay off your consumer debt.   This can only be done with a Hawaii VA Loan and not other loan programs.  For example:  If you buy a $400,000 single family home on Oahuand the Seller credits you $15,000, you can use some of that money to pay off consumer debt in conjunction with your Hawaii VA Loanin addition to using the money to pay off your closing costs and prepaids.  In the past, Buyers that I have represented have paid off car loans, credit cards and student loans in conjunction with the purchase of their homes in Hawaii.

Call or email me if you would like any additional information.  To search the Oahu MLS for properties for sale on Oahu, visit my homepage at www.himre.com and click on the link to search for homes.  My website is linked directly into the Oahu MLS and you will see ALL properties for sale on Oahu.

2011 Aloha Aina Award Winners

1.  Honolulu County $695,750.00
2.  Hawaii County $625,500
3.  Kalawao County $625,500
4.  Maui County $625,500
5.  Kauai County $625,500

For example:  If you want to buy a home in Honolulu County for $650,000.00 and you are also going to finance your VA Funding Fee then your total loan amount would actually be $663,975.00 which includes a 2.15% VA funding fee for an active duty, first time user. (VA Funding Fee amounts vary by your nature and time of military service).

In another example, if you wanted to purchase a home inHonlulu County for $695,750.00, once you add on the VA Funding Fee, you would exceed the authorized maximum allowable loan limit by just under $15,000 so you would need to pay that $15,000 in cash at closing.

For more information about Oahu Real Estate, Hawaii Homes For Sale and VA Loans in Hawaii, contact David Kucic at Hawaii Military Realty.

All of the homes in this neighborhood are eligible to be purchased using the Hawaii VA Home Loan.  If you are  a Veteran and interested in more information, feel free to sign up for one of our Free VA Loan Seminars.

For all of your Ewa Beach Real Estate needs, contact the company that KNOWS Ewa Beach, David and Tonya Kucic of Hawaii Military Realty, Inc. 

Ewa Beach, Hawaii Tuscany II Neighborhood Scene

The homes in Ewa by Gentry neighborhoods are just as desirable as or even more desirable than many other neighborhoods on the island of Oahu.  When a property comes on the market in a Ewa by Gentry community, an interested Buyer will make an offer on the property within a few days of listing.  This information is based on the most recent statistics as found on the Honolulu Board of Realtor’s Multiple Listing Service. 

As long as the property being listed is in decent condition and is priced at or near fair market value, there seem to be Buyer’s waiting in the midst to submit an offer to purchase the homes.  Part of the reason for this is the historically low interest rates that have been hovering anywhere in the 3.75% to 4.25% for a 30 year, fixed rate loan.

Ewa by Gentry neighborhoods have had their fair share of short sales, foreclosures and Homeowners Assistance Program (HAP) sales.  However, regardless of which one of these categories that the homes fall into, there are still many interested Buyer’s waiting on homes to hit the market.

Ewa by Gentry single family home most recent statistics (covering approximately the past 6-8 months)

• There are currently 39 homes available for sale.  This includes new homes in Haleakea that are listed on the MLS.  Of these 39 homes, 9 of them are listed as short sale and 4 of them are listed as foreclosures or lender sales.
• There are currently 58 properties that are under contract but have not closed yet.  Of these 58 homes, 37 of them are listed as short sales and 6 of them are listed as foreclosures or lender sales.
• There have been 93 homes that have sold recently.  Of those 93 homes, 33 of them were short sales and 8 of them were foreclosures or lender sales.

For the sake of comparison, these are the statistics for our neighbors in theOcean Pointe community covering the same 6-8 month time period.

• There are currently 5 homes available for sale.  Of these 5 homes, 3 of them are listed as short sales.
• There are currently 19 homes that are under contract but have not closed yet.  Of these 19 homes, 12 of them are listed as short sales and 1 foreclosure or lender sale.
• There have been 45 homes that have sold recently.  Of these 45 homes, 8 of them were short sales and 6 of them were foreclosures or lender sales.

Given the amount of homes in Ewa by Gentry neighborhoods versus Ocean Pointe neighborhoods, these statistics are very similar.

(Information here-in is deemed reliable but not guaranteed)

All of the homes at Ka Makana at Hoakalei have been approved for financing with a VA Loan.

Note:  If you are a member of USAA, you will NOT want to use your USAA loan to buy a home at Ka Makana at Hoakalei.  If you choose to use USAA, you will lose out on thousands of dollars of savings by doing so.  For more information on the negative impact of using USAA loans on new home developments in Ewa Beach, give me a call and I will explain it to you.

Ka Makana at Hoakalei Model 2020 Video

For more information on this home, the development at Ka Makana at Hoakalei in Ewa Beach, Hawaii or any other Oahu real estate information, contact David Kucic at (808) 218-9338 or email to david@davidkucic.com.

We have a home for sale in the highly desirable neighborhood of Ewa by Gentry Prescott.  This is a 3 bedroom, 2.5 bathroom single family home, approximately 1,762 interior sf of living space (not counting the garage) with NO MAINTENANCE FEES.  The home is in very good condition and located on a quiet cul-de-sac.  It has central air conditioning, fully fenced yard, long driveway to park 2 cars, a 2 car garage, street parking,  sprinkler system, high vaulted ceiling in living room, tile floors and all appliances.  This property is located in the award winning Holomua Elementary School District.

Hurry because this one wont last!  Call me for your private showing but if you are already working with a Hawaii real estate professional, have your real estate professional call me ASAP.

This listing is brought to you by Tonya Kucic of RE/MAX Honolulu.

Assuming you are  eligible for a VA Loan in Hawaii and have enough active duty service to qualify for the lowest “VA Funding Fee”, you will pay an additional 2.15% of the loan amount (3.3% if you are using the VA Loan for a second or third time) when you purchase a home in Hawaii.  Conventional loans have “Mortgage Insurance” when the down payment is less than 20%.  VA Loans in Hawaii have a “VA Funding Fee“.

The difference between the Hawaii VA Loan and the Conventional Loan in Hawaii is that the Mortgage Insurance is an additional monthly charge that you pay on top of your principal, interest, taxes and insurance.

With the VA Funding Fee, the 2.15% gets “rolled into the loan”.  For example, if you buy a piece of real estate on Oahu for $400,000, your actual total loan amount will be 400,000 + 2.15% = $408,600.

The purpose of the VA Funding Fee on Hawaii VA Loans is the same as Mortgage Insurance on Hawaii Conventional Loans:  They insure the lender in case the Buyer defaults on the loan.

For more information on purchasing real estate in Hawaii or to view properties on the Hawaii MLS, visit my homepage and click on the Quick Search Tab.

Aloha and Happy House Hunting!

The reason is simple:  Service members can get 100% financing at a competitive interest rate with ZERO money down.

Why is it beneficial for a service member to use their VA Loan Eligibility on a piece of real estate in Hawaii?

That answer is also simple.  The use of a VA Loan in Hawaii with ZERO money down is the main attraction.  If the Service member was to opt for a Conventional Loan, the Service member would be looking at a 20% down payment.   Since single family home prices on Oahu are around $500,000, that means the down payment would be around $100,000.  Not many service members have that kind of money laying around.

If the service member was to opt for an FHA loan, that is still a 3.5% down payment or $17,500.  Once again, not many of my service member brothers and sisters have that kind of money to spend on a down payment.

So if the Service member uses their VA loan elibility in Hawaii and subesequently PCS’s to the mainland and wants to buy another house, since home prices are much lower in MANY parts of the mainland, the down payment of 20% or 3.5% is much less.  For example, with a 20% down payment for a brand new home in the Ft Hood, Texas area at around 150k, the down payment amount would be $30,000 rather than the $100,000 in Hawaii.

If the Service member opted for an FHA loan in Texas, the down payment of 3.5% on a $150,000 house would be $5,250.

For more questions about your VA Loan Eligibility in Hawaii, contact First Sergeant, Retired and real estate broker in Hawaii, David Kucic at (808) 218-9338 or email me at david@davidkucic.com.  You are in good hands with one of your fellow veterans taking care of you.