VA loan FAQ

Usually not. Veterans who receive VA compensation for a service-connected disability are exempt, and so are active-duty service members who have received the Purple Heart and some surviving spouses. Your Certificate of Eligibility (COE) shows your exemption status, so we check it before you budget.

If you have full VA entitlement, VA sets no loan limit, so a purchase with no down payment is possible as long as you qualify and the appraisal supports the price. Hawaii prices are high, so we look at your income, debts and residual income early. Individual lenders may set their own maximum loan amounts and credit requirements.

Limits only matter if part of your entitlement is still tied to another VA loan. For 2026 the county limit is $1,249,125 for Honolulu, Hawaii and Kauai counties and $1,299,500 for Maui County.

You may have remaining entitlement. The math starts with 25% of the county limit, minus the entitlement you've already used. Lenders typically lend up to four times what's left with no down payment. Above that, expect a down payment of about 25% of the difference.

Yes. The condo project has to be on VA's approved list. We check before you write an offer. If it isn't approved, a request can be submitted, but it takes time and approval isn't guaranteed.

Often, yes. VA expects you to move in within a reasonable time, generally 60 days, and a spouse can meet the occupancy requirement while you're deployed. We can handle the loan by phone, video and e-signature.

BAH counts as income. Because it's non-taxable, lenders may gross it up when calculating your ratios. VA also looks at residual income, the money left each month after major bills, which matters in a high-cost area like Oahu.

Yes. You can restore entitlement by selling and paying off a previous VA loan, request a one-time restoration if you paid it off and kept the home, or use remaining entitlement while keeping your first home.

An Interest Rate Reduction Refinance Loan refinances one VA loan into another, usually to lower the payment or move from an adjustable to a fixed rate. VA requires a real benefit to you, and closing costs generally need to be recovered within 36 months.

Yes, with a VA cash-out refinance, even if your current loan isn't a VA loan. How much you can take out depends on VA rules, the appraisal and lender limits.

Yes. With full entitlement, VA loans above the county limit don't require a down payment if you qualify. With partial entitlement, a down payment may be needed. Individual lenders may set their own maximum loan amounts and credit requirements.

VA doesn't set a minimum credit score; individual lenders do. Because I'm a broker, I can compare lenders whose requirements fit your situation.

A bank offers its own loans. A broker compares loans from multiple wholesale lenders and helps you choose. Either way, the VA guaranty works the same.

Besides Hawaii, I'm licensed in California, Florida, Georgia, North Carolina, Tennessee, Texas, Virginia and Washington. You can verify my licenses at NMLS Consumer Access using NMLS 1886259. Call me with your orders and I'll tell you straight away whether I can do your loan.