Kaneohe, HI

There is very little red tape involved in getting a va loan in Oahu, Hawaii. VA loans often require no down payment. Other than the certificate of eligibility and the Va appraisal getting a Va loan in Oahu, Hawaii is just like applying for any other loan program. There five easy steps

to getting a va loan in Oahu, Hawaii

1. Apply for a Certificate of Eligibility for a va loan in Oahu, Hawaii
   
2. Apply to a Mortgage Lender for a va loan in Oahu, Hawaii.
3. Find a Realtor who knows how to structure a VA purchase offer.
4. Locate a property and make an offer
5. Close the va loan in Oahu, Hawaii and move in
   

There are several advantages for those with a va loan in Oahu, Hawaii.

. Usually requires no down payment for a va loan in Oahu, Hawaii

. 100% financing available for loan amounts up to $783,750

. Flexibly to negotiate with lender on rates

. No mortgage insurance premium monthly for a va loan in Oahu, Hawaii

. Limited buyers closing costs

. An appraisal that inform the buyer of the property value

. Thirty year loan repayment options

. Assumable mortgage upon approval of assumers credit

. No prepayment penalty

. Va. personally services the loan with counseling and programs available to borrowers facing a financial hardship to prevent the loss of the home.

What can va loan in Oahu Hawaii be used for?

. Buying a home, condo in a Va. approved project, or a unit in a co-op

. Building a home

. To purchase and improve a home simultaneously

. Refinancing an existing home loan up to 90% of the homes value

. Buying a manufactured home and/or lot

I never am the guy that wants to share bad news or focus on a negative. After saying that the lending arena is getting worse. Take the VA loan for instance. Lenders are guaranteed that the VA will pay them 25% should a borrower default. One would think it would be a pretty safe bet for a Lender to give money to a qualified Military member as they have job security. In addition the Lender will get at least 25% of their money back. In the not too distant past Lending money to service member's that had a 580 mid score and a 70% Dti back end ratio was common place because the lender was looking at the above mentioned factors. 2years ago I closed a loan for a client that had a recent bankruptcy, unstable employment history and not a dime in reserve. Today you couldn't look at a Bk unless it was Discharged 2 years out minimum. Some Lenders are now requiring a 720 mid score on a VA purchase. I recently had a transaction where the borrowers had a 40 DTI, 2 years in reserve, On the same jobs for over a decade and higher then 680 mid fico score. It was to be a slam dunk. 3 weeks into underwriting the file got put in suspense as overnight the investors changed their credit guidelines and now a 720 mid score was required. Now I am someone that double and triple checks my work before proceeding. I assured everyone that we were going to be fine only to get hit with the harsh news 3 weeks into it. Folks its very scary out there. Think about this scenario again. I couldn't have asked for a eaiser transaction. We did go to another lender and I have since attend the clients housewarming so there was a happy ending, but whose to know if the result would have been the same 1 week from now. Bottom line if you have a client that is sitting on the fence its very important they realize time is very much of the essence.

HAPPY 93rd Birthday Grandma!!! Im sorry I wasnt there to celebrate it with you

Thats all Folks

One of the most frequent objections I hear to not wanting home ownership is " I'm only going to be here three years" Lets examine that just a little. Firstly If they are an E-5 they are going to be throwing away about $60,000 just in BAH. In addition there is no tax write off. Most people forget that a huge advantage of home ownership is to fight uncle Sam. I recently heard someone tell me that they don't want to own because its too expensive to pay for utilities. Folks base housing is not free. I have heard alot of objections in the face of fear, but the one objection that reads loudest is " I am only going to be here three years." There our two fears going on in the mind at this time. 1. will I be able to get renter's and 2. my Bah could potentially be alot less at my next station. Currently there is a huge shortage of base housing. Chances are a renter should be pretty easy to come by especially when people are so very scared to own. In addition if you are charging $1000 for a room it will cost much less for someone to rent your room then to stay on base and have their BAH taken away. There is a good chance that they might not be able to completely cover their full Mortgage payment. Lets say it short by $300. In addition a property manger is hired at 10%. Effectively there is a $500 loss. Firstly some of that loss will written off come tax time. Second if someone told me that i could have a free and clear title to a home in Hawaii in 30 years and all I had to do was pay $500 a month, i would more then take them up on that. Home-ownership is affordable in Hawaii, especially if you are brave enough to have served our country.

Haiku Stairs (or otherwise known as the "stairway to heaven") is located on the Kaneohe side of Oahu and now closed to hikers. The stairs were riginally used to access longwire radio antennaes high above Haiku Valley and stretch about 1/2 mile long and over 4,000 steps.

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Celeste "Sally" Cheeseman is a Realtor-Associate with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocating to Hawaii, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents. Website: www.hawaiihomesmarket.com

November was a pretty good month for surf on Oahu.  In the winter we get more waves on the famous North Shore (20 feet and higher) and the West and East shores.  In Honolulu (town) the surf is smaller during winter.

We had the chance to surf at a break located within Kaneohe Marine Corps Base on a Saturday in November.  You can't just drive in there, you gotta know someone with access if you're not military.

The surf break is called North Beach.  We took one look at the waves and were ready to go.  The sets had five to six foot faces and was a fun day!  Here's a photo of one of the smaller waves.  It was overcast and the photo came out dark.

Then, the tricky part.  Getting back to shore.  Sounds simple, right?  Not at North Beach.  There's lots of reef and rocks.  We paddled back in and I let the others go ahead of me.   I was concerned about a wave hitting us and we could bang into each other.  As the others reached shore I paddled in.  There's a narrow channel to paddle through.  Go too far one way or the other and there are problems.  This being my first time at North Beach, I went too far to one side.  Result: rip current.  I was paddling as fast as I could and nothing was happening.  The others stood on shore and pointed for me to paddle to one side.  I kept on paddling, looking up and not getting closer. 

Finally, my wife's (adult) son swam out, grabbed my surfboard and instructed me to swim to shore.  It was just 10-20 feet away, seemed like it would be okay.  He surfs all the time and managed to get the board back to shore quickly.  I'm a decent swimmer and started moving towards the shore.  Well, the current was still there and I started getting tired within a minute or two.  Next thing I know, I see a float land in the water by me and two lifeguards swam out to help me.  Those guys had swim fins, which helped a lot.

A few minutes later we were up on the sand and feeling better.  It was an eye opener.  I think if I had been alone without lifeguards I would have made it onto the beach, however I would have climbed over the rocks and gotten beaten up by the waves.

Here's a photo of me with one of the two lifeguards, his name is Chris. 

You can see the waves behind us, it was a nice day other than paddling in.  It was also a great reminder that the ocean is powerful and we should respect it always. 

Aloha, Mike