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At Element Mortgage, we are extremely grateful for the service of our Veterans, which is why we provide a home loan program designed to show them the gratitude they deserve.

VA Loans help Veterans, active duty and surviving spouses obtain a home loan with more lenient eligibility requirements than other loan programs. Specifically, they offer 100 percent financing* and do not come with a mortgage insurance requirement. In addition, a home that needs repairs could be purchased and the cost associated with those repairs may be able to be included in the loan.

As you can see, this is a program that provides a lot of perks for our Hawaii Veterans. The question then becomes: Who exactly is eligible?

A Veteran is eligible if they have served for 181 days of active service in peacetime, or over six years in the Reserves or National Guard, or if they have served for 90 straight days of active duty in wartime. In addition, the spouse of a Veteran who passed away while on duty, or because of a disability that is tied to service, is eligible.

You should also be aware that a Certificate of Eligibility is required. This certificate does not automatically mean you are eligible because there are things such as income and your credit score that come into play, but it will show that as a Hawaii Veteran you can obtain such a loan. This process can be handled through your lender after some basic information and paperwork is delivered.

In terms of actually qualifying for a VA Loan, the large things you will need to supply are a few years of tax returns and proof of employment, among a few other things.

It is also recommended that you work with a lender who knows the Oahu market well. With that will typically come a higher level of customer service and quick results. That is what you will get if you decide to get a VA Loan through Element Mortgage.

Delivering home ownership to Hawaii Veterans is something we take very seriously, and that is why we believe in educating them about these home loans and delivering the type of customer experience they deserve if they decide to take advantage of the VA Loan benefit they are entitled to.

If you have any questions about the VA Loan program and eligibility, don’t hesitate to contact us!

*Qualifying factors may apply. Example VA: Loan amount $300,000, 0% down, monthly payment without taxes and insurance $1,844.77 APR 4.432% for Hawaii blog, trigger term (100% financing)

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