VA Loans

VA mortgage loans are one of the best and safest methods to use when buying a home.

US Military veterans with at least 6 months (180 days) of active duty service can qualify. If you are a Disabled Veteran, you may qualify for additional benefits on a VA home mortgage loan. The VA Home Mortgage Program does not limit the number of times a veteran may use the program.

The VA mortgage loans extend to not only the Army, Navy, Air Force and Marines but also to Reservists and National Guardsmen.

Some benefits of the VA Mortgage Loan Program are:

  • No money down
  • No monthly Mortgage Insurance is required
  • VA Mortgage Loans are assumable
  • It is easier to qualify for a VA Loan than a conventional loan
  • VA Mortgage Loans can be refinanced with less hassle than a conventional loan

Some benefits of the VA Mortgage Loan Program are:

Qualifying for a VA Mortgage Loan

The VA offers excellent qualifying standards. The VA does not use credit scoring in their analysis of the loan. Even if you have experienced some financial difficulties in your life that caused your scores to be low, but have maintained a good payment record over the past year or so, you may qualify for a VA mortgage loan. This can be a tremendous savings compared to the cost of conventional loans when the borrower’s credit scores are low.

No Money Down Up to $721,050

If the seller agrees to pay the closing costs, you may be able to purchase the home with no out of pocket cost. The loan and sales contract can be set up so that the VA Home Mortgage Loan covers 100% of the selling price and the seller covers the closing cost. If the seller is not willing to pay the closing costs or you do not want to request that they pay the closing costs in order to make your offer more attractive in a competitive market, you may qualify for our “No Fee” loan option. With the “No Fee” loan option, we can pay some or all of the loan fees in exchange for a slightly higher interest rate.

The VA Funding Fee

The Veterans Administration assesses a Funding Fee to all VA loans between .5% and 3.3% of the loan amount. The VA funding fee for a veteran (with at least 6 months of active duty service) on a purchase loan is currently 2.15%. The VA funding fee for VA refinance transactions is .5%. The fee may be added into the amount of the loan to be paid over the life of your VA home mortgage loan. The VA Funding Fee replaces the much higher priced Mortgage Insurance required when you get a conventional or FHA home loan.

If you are a Disabled Veteran, you may qualify to have the fee waived completely.

Assumable VA Mortgage Loans

VA loans are also assumable. If the person assuming the mortgage is a veteran with VA eligibility, the original veteran will not be giving up the amount of eligibility that they used to get the loan at the beginning. Veterans should use great care and closely investigate the terms of an assumption before allowing someone to assume their mortgage. It is too great a benefit to give up.

VA Mortgage Loans can be refinanced without the hassle of a conventional loan

VA mortgage loans have built in features allowing a loan to be refinanced to a lower interest rate without all of the criteria normally associated with a conventional loan. This is called an Interest Rate Reduction Loan (IRRL) The veteran can secure a lower interest rate without any credit checks, appraisal, and income or asset verification and can roll the costs of the transaction into the loan, so there are no out of pocket costs.

Getting Started

VA Certificate of Eligibility (COE)

You can download your COE directly from the VA eBenefits Portal.

If you would like assistance, click the button below and we will get your COE right now.


Military Pay Calculator

By using your rank, years of service, number of dependents, and location, this calculator expresses your Basic Pay, BAH, and BAS while stationed in Hawaii.


Free Rate Quote

Whether it’s time to buy or refi, we’re here to help you take the next step. Fill out our form and one of our loan specialists will be in contact with you.


Happy Home Owners

Hear what some of your friends and neighbors have to say about working with Cardinal Hawaii.

Average of 5 stars, total of 74 Ratings

Come home to a place you can call your own.

Get your free rate quote today.

Come home to a place you can call your own.

Get your free rate quote today.