How to Contact the VA Loan Guaranty Division in Honolulu
By Mail:
Department of Veterans Affairs
Loan Guaranty Division (26)
P.O. Box 29020
Honolulu, HI 96820-1420
By Express –Mail/Messenger:
Department of Veterans Affairs
Loan Guaranty Division (26)
TAMC, Ward Road, E-Wing, 1st Floor
Honolulu, HI 96819
By E-mail or Telephone:
Loan Guaranty Officer (Pending appointment)
Raymond Chang, Staff Appraiser, SAH Agent raymond.chang@va.gov 433-0485
Roxanne Kimm-Yangi, Staff Appraiser roxanne.kim-yanagi@va.gov 433-0484
Susan Kanehailua, Loan Specialist susan.kanehailua@va.gov 433-0480
Sandra Luke, Loan Specialist sandra.luke@va.gov 433-0486
Gaylene Matsuura, Loan Specialist gaylene.matsuura@va.gov 433-0483
By Fax:
Loan Guaranty Division Fax Number 433-0383
The National Loan Guaranty Website Address is: www.homeloans.va.gov
2010 VA county Loan Limits for High Cost Counties
The Department of Veterans Affairs’ Loan Guaranty program does not impose a maximum amount that an eligible Veteran may borrow using a VA guarantee loan. However, the following county “limits” must be used to calculate VA’s maximum guaranty amount for the particular county. These limits apply to all loans closed January 1, 2010 through December 31, 2010. 2011 county loan limits will be made available as soon as possible.
The maximum guaranty amount (available for loans over $144,000) is 25 percent of the 2010 VA Limit shown below. Therefore, a veteran with full entitlement available may borrow up to the 2010 VA Limit show below and VA will guarantee 25 percent of the loan amount. If a Veteran has previously used entitlement that has not been restored, the maximum guaranty amount available to the veteran must be reduced accordingly. Lenders should check their own investor requirements regarding guaranty amounts and down payments. Questions about VA Loan in a particular county may be directed to the VA Regional Loan Center listed for that county.
|
STATE |
COUNTY |
2010 LOAN LIMIT |
REGIONAL OFFICE |
|
GU |
GUAM |
$625,500 |
HONOLULU |
|
HI |
HAWAII |
$625,500 |
HONOLULU |
|
HI |
HONOLULU |
$700,000 |
HONOLULU |
|
HI |
KALAWAO |
$625,500 |
HONOLULU |
|
HI |
KAUAI |
$625,500 |
HONOLULU |
|
HI |
MAUI |
$625,000 |
HONOLULU |
VA FUNDING FEE TABLE
|
Type of Veteran |
Down Payment |
Percentage for First Time Use |
Percentage for Subsequent Use |
|
Regular Military |
None 5% or more (up to 10%) 10% or more |
2.15% 1.50% 1.25% |
3.3% 1.50% 1.25% |
|
Reserves/National Guard |
None 5% or more (up to 10%) 10% or more |
2.4% 1.75% 1.5% |
3.3% 1.75% 1.5% |
Cash-Out Refinancing Loans
|
Type of Veteran |
Percentage for First Time Use |
Percentage for Subsequent Use |
|
Regular Military |
2.15% |
3.3% |
|
Reserves/National Guard |
2.4% |
3.3% |
|
Type of Loan |
Percentage for Either Type of Veteran Whether First Time or Subsequent Use |
|
Interest Rate Reduction Refinancing Loans |
.50% |
|
Manufactured Home Loans |
1.00% |
|
Loan Assumptions |
.50% |
LENDER CHECKLIST FOR VA LOANS
Determine Eligibility : 1. Active Duty Member (at least 90days served)
2. Discharged Veteran (2 years, Honorable Discharge)
3. Reserves/Guard (6 good years or if activated while applying – at least 90 days served)
Apply for CE : Complete VA Form 26-1880 (application for CE)
Obtain evidence of service:
1. Statement of Active Military Service (ON LETTERHEAD)
2. DD Form 214 which reflects Honorable Discharge
3. Retirement Points History Statement for Guard
VA Home Loan Letter for Reservists
Statement of Active Military Service (ON LETTERHEAD)
If the member has been activated
How to apply: A. Online on ACE (Automated Certificate of Eligibility) in VIP
If CE no available online…
B. Apply directly to Winston-Salem Eligibility Center via electronic
Application in ACE or via mail or overnight mail.
C. Fax 26-1880 and evidence of service to 808-433-0383 and do a
process locally.
Determine Value: Order appraisal in VIP (TAS)
Determine Max Loan: Maximum Loan amount is determined by Value or Purchase
Price, whichever is less plus the VA Funding Fee, but no to
Exceed $625,500.
Determine Qualification: Qualification is based on verified information only. Follow
Residual income guideline and debt to income ratio tables
Online in the Lenders Handbook.
LENDER CHECKLIST FOR VA LOANS, (continue)
Close the Loan: Collect VA Funding Fee** at closing. If exempt, provide VA Form
26-8937, completed by VA
**see VA Funding Fee table
Guaranty the Loan: Loan can be guaranteed online in VIP through webLGY.
Loan Review: Loans will be randomly selected for review. Upon notification,
Provide VA with origination documents.
2010 MILITARY PAYBOOK
HAWAII (Honolulu County)
Basic Allowance For Housing (BAH)
BAH (without Dependents) BAH (with Dependents)
E1 $1,572.00 E1 $2,001.00
E2 $1,572.00 E2 $2,001.00
E3 $1,572.00 E3 $2,001.00
E4 $1,572.00 E4 $2,001.00
E5 $1,794.00 E5 $2,094.00
E6 $1,917.00 E6 $2,445.00
E7 $2,004.00 E7 $2,553.00
E8 $2,163.00 E8 $2,670.00
E9 $2,274.00 E9 $2,808.00
W1 $1,965.00 W1 $2,448.00
W2 $2,160.00 W2 $2,601.00
W3 $2,283.00 W3 $2,745.00
W4 $2,472.00 W4 $2,832.00
W5 $2,580.00 W5 $2,934.00
O1E $2,094.00 O1E $2,577.00
O2E $2,250.00 O2E $2,724.00
O3E $2,445.00 O3E $2,847.00
O1 $1,905.00 O1 $2,133.00
O2 $2,061.00 O2 $2,439.00
O3 $2,319.00 O3 $2,739.00
O4 $2,565.00 O4 $2,973.00
O5 $2,634.00 O5 $3,138.00
O6 $2,745.00 O6 $3,168.00
O7/8/9/10 $2,799.00 O7/8/9/10 $3,201.00
Call today for more information!
Cindy Kau
Mortgage Loan Consultant
Evergreen Home Loans
1888 Kalakaua Avenue, Suite C312
Honolulu Hawaii 96815
NMLS ID#: 222598
Office: (808)447-8874
Mobile: (808) 778-8558
Fax: (808) 695-2967
e-mail: ckau@evergreenhomeloans.com
