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.