There is good news for eligible Veterans who purchased a home over the last several years or are thinking about buying in the future.
First, a refund may be in order for those who recently bought a home as a Veteran.
If you used a VA Loan to purchase your home, you may be due a refund for an unneeded funding fee you may have been charged when going through the home-buying process, according to the Department of Veteran Affairs.
The eligible refunds are for loans that funded between Jan. 1, 2012 and Dec. 31, 2017.
Thanks to the VA Loan Program, there’s more opportunity for Hawaii Veterans aspiring to buy a home.
Beginning next year, Veterans who were awarded the Purple Heart for their service will be able to save more through a VA Loan.
A new rule that takes effect on Jan. 1, 2020, exempts these individuals from the funding fee that’s typically part of the VA Loan package. The amount typically ranges from 1.25 to 2.5 percent of the value of the home loan.
Here at Element Mortgage, we believe in the local element. We are local, and we loan local. And we also greatly appreciate our Veterans in Oahu and beyond. That’s why we want to keep them up to date on important developments that directly affect them when it comes to the VA Loan program.
We are proud to be a VA-Loan-approved lender and are eager to work with you. If you have any questions about obtaining a VA Loan in Oahu, please do not hesitate to contact us.