Hawaii VA Loan Rates, Closing Costs & Stats

Hawaii

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.

Hawaii VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Hawaii averaged 6.04% for the week of 2024-10-11, compared to the national average (all VA variants) of 5.854% for the same period.

Hawaii's average VA mortgage closing costs are $11,548.

The average rate for the prior week (2024-10-04) was 5.41% and one month ago for the week of 2024-09-06, the average rate was 5.9%.

The average rate one year ago was 7.37%.

For refis of the same type during the week of 2024-10-11, the average rate was 4.87%.

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

Hawaii 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 Hawaii level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 420 6.01% $18,500
Mortgage Research Center, LLC 229 6.16% $13,981
AMERICAN PACIFIC MORTGAGE CORPORATION 167 6.12% $18,658
FREEDOM MORTGAGE CORPORATION 131 6.22% $20,114
LOANDEPOT.COM, LLC 127 6.38% $25,587
QUICKEN LOANS, LLC 105 5.84% $20,470
DHI MORTGAGE COMPANY, LTD. 105 5.55% $16,136
GUARANTEED RATE, INC. 79 6.10% $15,280
NAVY FEDERAL CREDIT UNION 58 5.83% $13,346
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 57 6.16% $17,068
CROSSCOUNTRY MORTGAGE, LLC 47 6.20% $17,268
CMG MORTGAGE, INC. 47 6.16% $21,532
Century Mortgage Company DBA Century Lending Company 40 5.85% $18,874
LAND HOME FINANCIAL SERVICES, INC. 36 5.75% $26,375
PENNYMAC LOAN SERVICES, LLC 32 5.69% $21,286
NEWREZ LLC 27 6.14% $16,691
Ameris Bank 24 6.03% $18,015
Plains Commerce Bank 23 5.85% $24,456
AMERICAN FINANCIAL NETWORK, INC. 22 6.49% $15,393
ACADEMY MORTGAGE CORPORATION 21 5.93% $18,669
V.I.P. MORTGAGE, INC. 17 6.26% $20,818
CARDINAL FINANCIAL 16 6.27% $23,022
The Federal Savings Bank 16 5.98% $28,246
MUTUAL OF OMAHA MORTGAGE, INC. 11 5.81% $15,829
Central Pacific Bank 11 5.70% $14,019
Paramount Residential Mortgage Group, Inc. 11 6.26% $22,027
GUILD MORTGAGE COMPANY 11 6.18% $25,722
HOMEBRIDGE FINANCIAL SERVICES, INC. 11 5.93% $16,792
DAS Acquisition Company, LLC 10 6.91% $11,085
NEW DAY FINANCIAL, LLC 9 7.92% $17,039
Nations Lending Corporation 9 6.36% $13,329
USAA Federal Savings Bank 8 6.00% $20,436
PLAZA HOME MORTGAGE, INC. 8 6.30% $37,522
PENTAGON FEDERAL CREDIT UNION 8 5.80% $12,650
Bank of Hawaii 7 6.25% $16,859
Equity Prime Mortgage LLC 6 5.92% $22,520
MOVEMENT MORTGAGE, LLC 6 7.25% $15,687
American Savings Bank, FSB 6 5.81% $21,748
SECURITYNATIONAL MORTGAGE COMPANY 5 6.13% $22,621
MANN FINANCIAL INC. 5 5.65% $21,642
PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.52% $24,886
Barrington Bank & Trust Company, N.A. 5 5.75% $8,402
Mr. Cooper ( Nationstar Mortgage ) 4 5.75% $21,873
CASTLE & COOKE MORTGAGE, LLC 4 6.22% $18,961
NFM, INC. 4 6.72% $16,871
Pacific Lending LLC 4 5.28% $24,706
HighTechLending Inc 3 5.96% $11,878
CANOPY MORTGAGE, LLC 3 6.63% $30,011
COMPASS HOME LOANS, LLC 3 5.75% $16,458
MASON MCDUFFIE MORTGAGE CORPORATION 3 6.42% $16,450
Community First National Bank 3 6.67% $10,504
AMERISAVE MORTGAGE CORPORATION 2 5.63% $53,242
Wells Fargo Bank 2 5.56% $11,939
SOVEREIGN LENDING GROUP INCORPORATED 2 6.75% $9,010
PLANET HOME LENDING, LLC 2 2.88% $3,464
First Hawaiian Bank 2 6.06% $11,413
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.56% $22,492
North American Savings Bank, F.S.B. 1 5.25% $38,482
First Federal Bank 1 6.38% $5,192
First Bank 1 6.88% $4,117
EVERETT FINANCIAL, INC. 1 6.63% $21,946
CORNERSTONE HOME LENDING, INC. 1 7.25% $12,733
Presidential Bank, FSB 1 6.25% $9,615
S1L, Inc. 1 5.75% $4,910
SUMMIT FUNDING, INC. 1 6.25% $8,387
Sunflower Bank 1 6.13% $18,521
BAY EQUITY LLC 1 6.25% $973
Armed Forces Bank 1 5.75% $25,624
VILLAGE CAPITAL MORTGAGE 1 6.50% $16,119
MLD MORTGAGE INC. 1 5.25% $6,815
MID AMERICA MORTGAGE, INC. 1 8.25% $10,094
MORTGAGEONE, INC. 1 7.50% $12,457
Magnolia Bank 1 5.75% $36,355
LOANPAL, LLC 1 5.00% $20,934
JMJ FINANCIAL GROUP 1 5.88% $40,513
HAWAII STATE FEDERAL CREDIT UNION 1 5.63% $14,362
GUARANTEED RATE AFFINITY, LLC 1 5.68% $14,822
NBKC BANK 1 5.50% $28,536
Franklin Loan Corporation 1 6.25% $26,222
Flagstar Bank, FSB 1 6.75% $5,955
American Mortgage & Equity Consultants, Inc. 1 7.25% $7,382

The top Hawaii VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 420 VA loans originated. Their average total fees are $18,500, which is $4,519 higher than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Hawaii VA lenders (with over 10 loans originated) are DAS Acquisition Company, LLC ($11,085), NAVY FEDERAL CREDIT UNION ($13,346), Mortgage Research Center, LLC ($13,981), Central Pacific Bank ($14,019) and GUARANTEED RATE, INC. ($15,280).

The lowest rate Hawaii VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.55%), PENNYMAC LOAN SERVICES, LLC (5.69%), Central Pacific Bank (5.70%), LAND HOME FINANCIAL SERVICES, INC. (5.75%) and MUTUAL OF OMAHA MORTGAGE, INC. (5.81%).

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.