Military Personnel
First, I'd like to start this page out by saying thank you for what you do to service this great nation of ours. Thank You!
The clock is always ticking. Have you considered your future once you retire? What are you going to do? How are you going to support yourself and family? Your military retirement is not enough. The time to start is now, invest in your future.
As a member of the United States Military one of your benefits in your VA loan. Each Veteran has a VA loan, which you can use while on active duty. You must have served 180 days of active duty.
So what is my VA loan worth to me? Let me show you.
Rank
BASE Pay
over 4 years BAS
BAH
Total
E-5
$2335.00
$280.00
$2043.00
$4658.00
E-6
$2606.00
$280.00
$2274.00
$5160.00
0-2
$4148.00
$193.00
$2269.00
$6610.00
0-3
$4723.00
$193.00
$2627.00
$7543.00
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In Hawaii your total VA loan is $700,000.00 for first time buyers. Currently the average three bedroom, two bath home is around $590,000.00 .
Here's what that looks like:
Loan amount
$590,000.00
Term
30 years
Interest rate
5.618%
Annual home insurance
$1,500.00
Annual property taxes
$1,500.00
Monthly payment
$3,393.77
Monthly payment (PITI)*
$3,643.77
Total principal and interest payments
$1,221,753.32
Total interest
$631,753.32
Being Assigned to Marine Corps Base, Kaneohe Bay, Hawaii - check here for homes/condos available.
Being Assigned to Hickman Air Force Base, Pearl Habor Navy Base, Fort Shafter, check here for homes/condos available.
Once you purchase your home and start your payments each month you will be charged interest on this loan. At the end of the year you will receive a statement from the bank indicating how much interest you have paid on this loan. This is deductable from your taxes.
Once you have lived in the home for six months you can now rent this property out. In the state of Hawaii rentals are very high demand.
For more information about VA loans in Hawaii check out VA Loans Hawaii.
