Urban Honolulu VA Loan Rates, Closing Costs & Stats

URBAN HONOLULU, HI

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    • 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 6.3% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.36% and one month ago for the week of 2024-10-04, the average rate was 5.48%.

    The average rate one year ago was 7.24%.

    For refis of the same type during the week of 2024-11-08, the average rate was 5.52%.

    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%).

    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.