Urban Honolulu VA Loan Rates, Closing Costs & Stats

URBAN HONOLULU, HI

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Urban Honolulu's 72 lenders originated 1,853 VA loans during 2023. The total origination value was $1,344,975,000, with an average VA loan value of $725,836.

Urban Honolulu VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Urban Honolulu averaged 6.5% for the week of 2024-03-22, compared to the national average (all VA variants) of 6.539% for the same period.

Urban Honolulu's average VA mortgage closing costs are $11,929.

The average rate for the prior week (2024-03-15) was 6.31% and one month ago for the week of 2024-02-16, the average rate was 6.54%.

The average rate one year ago was 6.17%.

For refis of the same type during the week of 2024-03-22, the average rate was 5.71%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Urban Honolulu VA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Urban Honolulu level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 389 6.01% $18,755
Mortgage Research Center, LLC 180 6.13% $15,239
AMERICAN PACIFIC MORTGAGE CORPORATION 140 6.12% $19,065
LOANDEPOT.COM, LLC 118 6.42% $26,214
FREEDOM MORTGAGE CORPORATION 113 6.24% $19,761
DHI MORTGAGE COMPANY, LTD. 105 5.55% $16,136
QUICKEN LOANS, LLC 89 5.81% $21,006
GUARANTEED RATE, INC. 66 6.08% $16,106
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 56 6.17% $17,298
NAVY FEDERAL CREDIT UNION 48 5.83% $13,684
CROSSCOUNTRY MORTGAGE, LLC 45 6.17% $17,231
CMG MORTGAGE, INC. 41 6.11% $21,704
Century Mortgage Company DBA Century Lending Company 35 5.74% $17,864
LAND HOME FINANCIAL SERVICES, INC. 30 5.75% $29,446
PENNYMAC LOAN SERVICES, LLC 26 5.80% $20,656
NEWREZ LLC 23 6.08% $16,579
Ameris Bank 22 6.08% $19,123
Plains Commerce Bank 21 5.88% $25,482
AMERICAN FINANCIAL NETWORK, INC. 21 6.51% $15,366
ACADEMY MORTGAGE CORPORATION 20 5.96% $18,547
CARDINAL FINANCIAL 16 6.27% $23,022
MUTUAL OF OMAHA MORTGAGE, INC. 11 5.81% $15,829
Central Pacific Bank 10 5.68% $13,932
HOMEBRIDGE FINANCIAL SERVICES, INC. 9 5.82% $18,194
GUILD MORTGAGE COMPANY 9 6.19% $29,029
The Federal Savings Bank 9 5.85% $29,235
Paramount Residential Mortgage Group, Inc. 9 6.08% $22,390
PENTAGON FEDERAL CREDIT UNION 8 5.80% $12,650
PLAZA HOME MORTGAGE, INC. 8 6.30% $37,522
NEW DAY FINANCIAL, LLC 7 7.82% $18,471
MOVEMENT MORTGAGE, LLC 6 7.25% $15,687
Equity Prime Mortgage LLC 5 5.93% $18,805
American Savings Bank, FSB 5 5.88% $21,975
V.I.P. MORTGAGE, INC. 5 6.05% $25,930
PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.52% $24,886
DAS Acquisition Company, LLC 4 6.72% $15,510
USAA Federal Savings Bank 4 5.75% $24,622
Bank of Hawaii 4 6.13% $19,908
MANN FINANCIAL INC. 4 5.69% $25,592
CASTLE & COOKE MORTGAGE, LLC 4 6.22% $18,961
Mr. Cooper ( Nationstar Mortgage ) 3 5.92% $24,253
COMPASS HOME LOANS, LLC 3 5.75% $16,458
CANOPY MORTGAGE, LLC 3 6.63% $30,011
NFM, INC. 3 7.08% $16,778
Wells Fargo Bank 2 5.56% $11,939
AMERISAVE MORTGAGE CORPORATION 2 5.63% $53,242
Nations Lending Corporation 2 7.00% $24,891
PLANET HOME LENDING, LLC 2 2.88% $3,464
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.56% $22,492
SECURITYNATIONAL MORTGAGE COMPANY 2 6.00% $26,300
JMJ FINANCIAL GROUP 1 5.88% $40,513
North American Savings Bank, F.S.B. 1 5.25% $38,482
HighTechLending Inc 1 5.50% $10,406
HAWAII STATE FEDERAL CREDIT UNION 1 5.63% $14,362
GUARANTEED RATE AFFINITY, LLC 1 5.68% $14,822
First Hawaiian Bank 1 5.88% $5,638
VILLAGE CAPITAL MORTGAGE 1 6.50% $16,119
First Federal Bank 1 6.38% $5,192
Presidential Bank, FSB 1 6.25% $9,615
Barrington Bank & Trust Company, N.A. 1 5.75% $9,024
First Bank 1 6.88% $4,117
EVERETT FINANCIAL, INC. 1 6.63% $21,946
S1L, Inc. 1 5.75% $4,910
Armed Forces Bank 1 5.75% $25,624
SUMMIT FUNDING, INC. 1 6.25% $8,387
Sunflower Bank 1 6.13% $18,521
CORNERSTONE HOME LENDING, INC. 1 7.25% $12,733
Community First National Bank 1 5.63% $19,878
BAY EQUITY LLC 1 6.25% $973
NBKC BANK 1 5.50% $28,536
MORTGAGEONE, INC. 1 7.50% $12,457
MLD MORTGAGE INC. 1 5.25% $6,815

The top Urban Honolulu VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 389 VA loans originated. Their average total fees are $18,755, which is $3,516 higher than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Urban Honolulu VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($13,684), Central Pacific Bank ($13,932), Mortgage Research Center, LLC ($15,239), AMERICAN FINANCIAL NETWORK, INC. ($15,366) and MUTUAL OF OMAHA MORTGAGE, INC. ($15,829).

The lowest rate Urban Honolulu VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.55%), Central Pacific Bank (5.68%), Century Mortgage Company DBA Century Lending Company (5.74%), LAND HOME FINANCIAL SERVICES, INC. (5.75%) and PENNYMAC LOAN SERVICES, LLC (5.80%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Urban Honolulu (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $699,000 (-4.9%) $1,331,140 (-3.0%) 2.59 2,191
2018-02-01 $695,000 (-2.6%) $1,301,012 (-4.2%) 2.52 2,259
2018-03-01 $695,000 (-0.2%) $1,252,690 (-6.3%) 2.44 2,343
2018-04-01 $694,900 (-1.1%) $1,229,744 (-6.2%) 2.36 2,450
2018-05-01 $692,000 (-4.3%) $1,221,866 (-7.5%) 2.31 2,499
2018-06-01 $695,000 (-2.7%) $1,160,573 (-10.3%) 2.32 2,606
2018-07-01 $692,000 (-1.0%) $1,142,621 (-10.3%) 2.31 2,746
2018-08-01 $699,000 (0.0%) $1,146,306 (-10.3%) 2.34 2,755
2018-09-01 $699,000 (0.6%) $1,170,922 (-7.3%) 2.35 2,775
2018-10-01 $690,000 (-0.3%) $1,154,490 (-7.9%) 2.34 2,819
2018-11-01 $698,257 (1.0%) $1,145,622 (-9.1%) 2.37 2,919
2018-12-01 $699,000 (0.0%) $1,157,469 (-11.6%) 2.41 2,910
2019-01-01 $699,000 (0.0%) $1,152,171 (-13.4%) 2.41 2,963
2019-02-01 $699,000 (0.6%) $1,131,246 (-13.1%) 2.36 3,081
2019-03-01 $699,214 (0.6%) $1,146,333 (-8.5%) 2.29 3,079
2019-04-01 $699,214 (0.6%) $1,164,959 (-5.3%) 2.22 3,031
2019-05-01 $698,500 (0.9%) $1,155,880 (-5.4%) 2.18 2,998
2019-06-01 $698,500 (0.5%) $1,150,252 (-0.9%) 2.18 2,996
2019-07-01 $698,000 (0.9%) $1,152,606 (0.9%) 2.19 3,113
2019-08-01 $693,091 (-0.9%) $1,158,868 (1.1%) 2.19 3,106
2019-09-01 $685,727 (-1.9%) $1,162,227 (-0.7%) 2.19 3,115
2019-10-01 $679,500 (-1.5%) $1,164,467 (0.9%) 2.19 3,115
2019-11-01 $668,000 (-4.3%) $1,157,569 (1.0%) 2.19 3,032
2019-12-01 $662,500 (-5.2%) $1,186,499 (2.5%) 2.21 2,863
2020-01-01 $649,450 (-7.1%) $1,168,819 (1.4%) 2.17 2,726
2020-02-01 $638,000 (-8.7%) $1,143,925 (1.1%) 2.09 2,780
2020-03-01 $625,000 (-10.6%) $1,137,009 (-0.8%) 1.96 2,839
2020-04-01 $604,500 (-13.6%) $1,110,263 (-4.7%) 1.89 2,831
2020-05-01 $610,000 (-12.7%) $1,087,870 (-5.9%) 1.85 2,827
2020-06-01 $629,000 (-10.0%) $1,104,349 (-4.0%) 1.85 2,794
2020-07-01 $621,250 (-11.0%) $1,127,585 (-2.2%) 1.80 2,591
2020-08-01 $600,000 (-13.4%) $1,136,252 (-2.0%) 1.72 2,579
2020-09-01 $598,500 (-12.7%) $1,127,838 (-3.0%) 1.71 2,459
2020-10-01 $595,000 (-12.4%) $1,157,577 (-0.6%) 1.70 2,434
2020-11-01 $597,500 (-10.6%) $1,173,448 (1.4%) 1.75 2,368
2020-12-01 $581,750 (-12.2%) $1,190,127 (0.3%) 1.73 2,438
2021-01-01 $573,250 (-11.7%) $1,221,455 (4.5%) 1.71 2,368
2021-02-01 $547,500 (-14.2%) $1,237,714 (8.2%) 1.59 1,900
2021-03-01 $572,500 (-8.4%) $1,266,540 (11.4%) 1.62 1,815
2021-04-01 $599,000 (-0.9%) $1,295,716 (16.7%) 1.62 1,741
2021-05-01 $625,000 (2.5%) $1,415,112 (30.1%) 1.66 1,581
2021-06-01 $675,000 (7.3%) $1,411,373 (27.8%) 1.78 1,571
2021-07-01 $697,400 (12.3%) $1,424,694 (26.4%) 1.84 1,568
2021-08-01 $712,500 (18.8%) $1,468,837 (29.3%) 1.90 1,473
2021-09-01 $719,250 (20.2%) $1,444,997 (28.1%) 1.92 1,514
2021-10-01 $716,500 (20.4%) $1,384,855 (19.6%) 1.91 1,576
2021-11-01 $717,500 (20.1%) $1,390,971 (18.5%) 1.92 1,571
2021-12-01 $696,500 (19.7%) $1,401,938 (17.8%) 1.89 1,489
2022-01-01 $695,000 (21.2%) $1,395,284 (14.2%) 1.88 1,391
2022-02-01 $696,750 (27.3%) $1,351,223 (9.2%) 1.81 1,429
2022-03-01 $726,750 (26.9%) $1,376,135 (8.7%) 1.82 1,367
2022-04-01 $775,000 (29.4%) $1,405,561 (8.5%) 1.85 1,372
2022-05-01 $809,000 (29.4%) $1,425,422 (0.7%) 1.85 1,471
2022-06-01 $841,750 (24.7%) $1,414,040 (0.2%) 1.87 1,529
2022-07-01 $850,000 (21.9%) $1,408,410 (-1.1%) 1.91 1,687
2022-08-01 $850,000 (19.3%) $1,395,229 (-5.0%) 1.96 1,755
2022-09-01 $838,250 (16.6%) $1,382,291 (-4.3%) 1.96 1,779
2022-10-01 $830,000 (15.8%) $1,330,863 (-3.9%) 1.95 1,935
2022-11-01 $819,750 (14.3%) $1,316,224 (-5.4%) 1.97 2,040
2022-12-01 $819,500 (17.7%) $1,328,757 (-5.2%) 2.02 2,043
2023-01-01 $813,500 (17.1%) $1,334,268 (-4.4%) 2.02 2,128
2023-02-01 $781,250 (12.1%) $1,253,202 (-7.3%) 1.89 2,451
2023-03-01 $789,222 (8.6%) $1,233,520 (-10.4%) 1.86 2,512
2023-04-01 $799,900 (3.2%) $1,371,056 (-2.5%) 1.86 1,805
2023-05-01 $811,500 (0.3%) $1,362,620 (-4.4%) 1.84 1,777
2023-06-01 $824,018 (-2.1%) $1,393,489 (-1.5%) 1.85 1,811
2023-07-01 $827,000 (-2.7%) $1,391,699 (-1.2%) 1.88 1,840
2023-08-01 $822,500 (-3.2%) $1,379,907 (-1.1%) 1.89 1,858
2023-09-01 $820,000 (-2.2%) $1,379,356 (-0.2%) 1.91 1,862
2023-10-01 $798,750 (-3.8%) $1,361,328 (2.3%) 1.88 1,970
2023-11-01 $799,000 (-2.5%) $1,354,828 (2.9%) 1.90 2,077
2023-12-01 $795,500 (-2.9%) $1,392,029 (4.8%) 1.94 2,107
2024-01-01 $789,500 (-3.0%) $1,378,053 (3.3%) 1.93 2,054
2024-02-01 $789,750 (1.1%) $1,367,011 (9.1%) 1.90 2,074
Urban Honolulu's median listing price for 2024-02-01 was $789,750, a difference of $8,500 (1.1%) versus the prior year and $250 versus the prior month.

Urban Honolulu's median listing price comes in at 190% of the national average.

Urban Honolulu's average listing price for 2024-02-01 was $1,367,011, a difference of $113,809 (9.1%) versus the prior year and $-11,042 versus the prior month.

For the 2024-02-01 period, Urban Honolulu had 2,074 MLS listings, a difference of 20 listings (1%) versus the prior month and -377 listings (-15%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Urban Honolulu (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 66 days 1,253 sqft
2018-02-01 52 days 1,250 sqft
2018-03-01 50 days 1,244 sqft
2018-04-01 51 days 1,263 sqft
2018-05-01 53 days 1,263 sqft
2018-06-01 54 days 1,269 sqft
2018-07-01 54 days 1,273 sqft
2018-08-01 56 days 1,294 sqft
2018-09-01 60 days 1,278 sqft
2018-10-01 64 days 1,265 sqft
2018-11-01 63 days 1,271 sqft
2018-12-01 68 days 1,248 sqft
2019-01-01 65 days 1,228 sqft
2019-02-01 59 days 1,212 sqft
2019-03-01 55 days 1,224 sqft
2019-04-01 57 days 1,238 sqft
2019-05-01 56 days 1,252 sqft
2019-06-01 56 days 1,244 sqft
2019-07-01 54 days 1,228 sqft
2019-08-01 57 days 1,214 sqft
2019-09-01 61 days 1,193 sqft
2019-10-01 64 days 1,176 sqft
2019-11-01 66 days 1,149 sqft
2019-12-01 74 days 1,144 sqft
2020-01-01 76 days 1,115 sqft
2020-02-01 69 days 1,107 sqft
2020-03-01 61 days 1,098 sqft
2020-04-01 71 days 1,058 sqft
2020-05-01 82 days 1,040 sqft
2020-06-01 91 days 1,030 sqft
2020-07-01 83 days 1,002 sqft
2020-08-01 75 days 985 sqft
2020-09-01 73 days 959 sqft
2020-10-01 74 days 977 sqft
2020-11-01 77 days 963 sqft
2020-12-01 85 days 957 sqft
2021-01-01 101 days 934 sqft
2021-02-01 73 days 892 sqft
2021-03-01 60 days 899 sqft
2021-04-01 59 days 932 sqft
2021-05-01 53 days 984 sqft
2021-06-01 45 days 1,017 sqft
2021-07-01 44 days 1,047 sqft
2021-08-01 46 days 1,048 sqft
2021-09-01 43 days 1,046 sqft
2021-10-01 41 days 1,032 sqft
2021-11-01 44 days 1,000 sqft
2021-12-01 52 days 952 sqft
2022-01-01 58 days 927 sqft
2022-02-01 45 days 938 sqft
2022-03-01 44 days 976 sqft
2022-04-01 42 days 1,040 sqft
2022-05-01 36 days 1,078 sqft
2022-06-01 39 days 1,134 sqft
2022-07-01 41 days 1,158 sqft
2022-08-01 46 days 1,168 sqft
2022-09-01 49 days 1,136 sqft
2022-10-01 50 days 1,140 sqft
2022-11-01 53 days 1,141 sqft
2022-12-01 64 days 1,131 sqft
2023-01-01 68 days 1,130 sqft
2023-02-01 64 days 1,123 sqft
2023-03-01 60 days 1,113 sqft
2023-04-01 64 days 1,082 sqft
2023-05-01 59 days 1,104 sqft
2023-06-01 58 days 1,120 sqft
2023-07-01 59 days 1,130 sqft
2023-08-01 61 days 1,117 sqft
2023-09-01 58 days 1,131 sqft
2023-10-01 54 days 1,123 sqft
2023-11-01 56 days 1,107 sqft
2023-12-01 62 days 1,077 sqft
2024-01-01 72 days 1,081 sqft
2024-02-01 68 days 1,067 sqft
Urban Honolulu's median listing age (time on market) for 2024-02-01 was 68 days. This is 5% longer than the same period one year ago.

Urban Honolulu's median square footage for active listings during the 2024-02-01 period was 1,067 sqft. One year prior, the average listing was 1,123 sqft.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.