I’ve been assisting several Oahu VA Buyers recently and in servicing these buyers, unfortunately, it has come to our attention that all Oahu VA lenders are not alike. Sadly, many VA lenders on Oahu use a national call center and the customer service that is provided through that center is often not even close to the same as that of VA Buyers working with Oahu, Hawaii VA lender with a local office.
On a positive note, we’ve worked with some national companies that provide local, reliable customer service. It is important to work with one particular loan officer, who you can actually sit down and meet with in an Oahu location, if you wish, and that your loan officer is available during Hawaii business hours. Especially when you are working with a tricky property (as are many on Oahu) it makes sense to work with both loan officers and underwriters who are here on-island and who know the market and Hawaii properties. From a REALTOR’s standpoint, having a great local VA lender can make the difference between actually closing the sale or having the Buyer lose the property due to an unresolvable problem.
In addition to providing various customer service options, different VA lenders may also provide their customers with terms and conditions which will vary greatly. For example:
1. Great VA lenders on Oahu will pick up the VA Buyer’s Non-Allowable Costs and these WILL NOT be passed on to the Seller of Property. This is especially important in a Sellers’ market like we have on Oahu today, to make the VA Buyers’ offers more competitive. Many Sellers of Oahu real estate will not work with VA Buyers if they have to pick up the VA Non-Allowable Costs.
AND/OR
2. Great VA lenders on Oahu will not charge a Loan Origination Fee. If the Lender does not charge an origination fee, the Buyer is allowed by the VA to pay the “non-allowables.”
3. Great VA lenders on Oahu will not profit from a VA Lender Referral Program, doling out names of any REALTOR that signs up, and will refer only to REALTORS who provide great customer service.
4. Great VA lenders on Oahu will offer attractive terms for those VA Buyers desiring Jumbo loans. It is important to have a robust VA Jumbo Loan program on Oahu, where many properties cost in excess of $1M. Not all VA Lenders have the same maximum loan limits. If you are interested in a VA Jumbo Loan with a limit of over $1M talk to us and we can point you in the right direction.
There are also many other things a great Oahu VA lender will know, that are not commonly known. There are many myths about VA Loans. You may think you are not eligible for a VA loan, when in fact you are. Your rates and terms may be affected by a variety of considerations. It always pays to work with an expert in real estate and with respect to your loan. Please contact Yvonne Ahearn at 808-721-8088 for a referral to a great VA lender. It can save you both money and disappointment.