HAWAII VA LOANS | Hawaii Military Relocations |This Realtors® Process

Active Duty or Veterans of the Armed Forces have VA Home Loan benefits for their home purchase that have proven beneficial for when it comes to little or no money down loan program. (provided their credit is satisfactory) VA guarantees the Local Lender that they will reimburse the lender a percentage should the veteran default on their loan. The following brochure What VA Does For the Home Buying Veteran should be very useful guidelines and loads of information.
*Across the Ocean to Paradise: Military Relocations Hawaii* has loads of information for your Military Relocation to Hawaii so you will have pertinent information on what to expect in your relocation to our island paradise.
Currently, I have one VA Loan client in contract and the other one has already been prequalified and coming to Honolulu Hawaii next month specifically to put in an offer during their 5 day house hunting trip so they can return back to the mainland and pack for their Hawaii Relocation in February. VA Loans are abundant here due to our high volume of military personnel and presence on Oahu, Hawaii.
The following steps are what this Real Estate Professional does in order to make your Relocation to Hawaii as smooth as possible concerning your real estate transaction and VA Loan Process.

Speak to a Local Hawaii Lender (if you do not have one I can refer you to a few who are well qualified in the State of Hawaii) to submit your information and get prequalified.

  • While talking to the Loan Officer make sure and let him/her know what you are comfortable with for monthly mortgage payments. After getting prequalified your Realtor® will now know in what price range to search for properties for you.
  • Let your agent know what other criteria you are looking for as far as # bedrooms/ # of baths, sq. ft. interior/land, parking, single family or condo/townhouse. Just remember to go over the *Across the Ocean to Paradise: Military Relocations Hawaii* because this gives pertinent information on what to expect in your Hawaii Relocation.
  • Get all your financial paperwork together so you will have it with you when you arrive.(Do not pack your bank statements, W-2’s, LES’s and important documents you will need to submit for your loan!)
  • If you have a couple of months to spare you may order your Certificate of Eligibility from the Veterans of Affairs office. It is not necessary to do so though, because our lenders order them online once you start your loan process and if anything is held up we have a VA office centrally located on Oahu for your convenience and it takes just minutes.
  • Start your loan process before you get here so you will have everything in place when you submit an offer for a loan. The loan process is the lengthy and of course an important part of the transaction so it is better to be proactive in your process. Your closing costs can be included with your loan so you will have minimal costs to come in with and to close with.
  • Appointments are made and off we go in search of your new home! When you decide that you would like to put in an offer we will go through the whole 12 page (plus addendum’s) contract and submit it to the sellers agent to present to the seller.
  • After the offer is accepted the loan process begins. You will meet with your Loan Officer to submit your complete application and submit all documentation needed for your VA Loan process packet. Then it goes to Underwriting to process the initial packet and order the appraisal with their VA approved appraisers.
  • The Condominium and/or Subdivision Association Documents should be ordered immediately after acceptance of the offer and in the buyer’s hands within 10-14 days after acceptance. This agent will make copies of the Budget, last three Association minutes and the Property Information form (RR105C) and submit it to the lender. They need this for the VA Loan Guidelines and process for your loan. (these documents will show how the Association budgets their money in reserve. % of owner occupants, any pending concerns or litigation going on and so forth.
  • Provided your loan process goes smoothly you should have a Conditional Loan Commitment Letter within the first three weeks in contract. This is an approval of your loan with Conditions. Maybe you need to submit a couple of more documents or the appraisal is not in yet or the survey and termite inspection are not done yet. These are the types of conditions that will be listed on this letter.
  • Within two weeks after the Conditional Loan Commitment letter is issued all the conditions should be complete for signing documents with escrow and the loan officer. Not to worry! I attend all signings with you.
  • In Hawaii, we do not sign at the same time as the Seller due to conflict of interest and we sign approximately four days before recording. After the signing, the loan officer takes the notarized and signed documents to go through processing and within 2.5 days the Lender should have funded the money for your loan to the escrow company. When escrow receives all monies then they will take the documents to the Bureau of Conveyances in Honolulu to record. By the next business day it will record and we usually get word between 8-10am. At that time, the home is legally yours and I will have already made arrangements and have your keys in hand to open the doors to your new home.
    Congratulations!
    It’s not easy moving across the Pacific Ocean let alone to a totally different “world” of people but you can do it with effort, motivation and a great Realtor®!
    Call me for a Relocation Packet and more info!
    Celeste “Sally” Cheeseman, Realtor Associate ®
    Century 21 Liberty Homes
    95-221 Kipapa Drive, Mililani, HI * (808) 375-1404
    http://www.hawaiihomesmarket.com/
    http://woohoosally.blogspot.com/

     

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    VA Loans & Hawaii Military Relocations: This Realtors® Process

    Active Duty or Veterans of the Armed Forces have VA Home Loan benefits for their home purchase that have proven beneficial for when it comes to little or no money down loan program. (provided their credit is satisfactory) VA guarantees the Local Lender that they will reimburse the lender a percentage should the veteran default on their loan. The following brochure What VA Does For the Home Buying Veteran should be very useful guidelines and loads of information.

    *Across the Ocean to Paradise: Military Relocations Hawaii* has loads of information for your Military Relocation to Hawaii so you will have pertinent information on what to expect in your relocation to our island paradise.

    Currently, I have one VA Loan client in contract and the other one has already been prequalified and coming to Honolulu Hawaii next month specifically to put in an offer during their 5 day house hunting trip so they can return back to the mainland and pack for their Hawaii Relocation in February. VA Loans are abundant here due to our high volume of military personnel and presence on Oahu, Hawaii.

    The following steps are what this Real Estate Professional does in order to make your Relocation to Hawaii as smooth as possible concerning your real estate transaction and VA Loan Process.

    Speak to a Local Hawaii Lender (if you do not have one I can refer you to a few who are well qualified in the State of Hawaii) to submit your information and get prequalified.

  • While talking to the Loan Officer make sure and let him/her know what you are comfortable with for monthly mortgage payments. After getting prequalified your Realtor® will now know in what price range to search for properties for you.
  • Let your agent know what other criteria you are looking for as far as # bedrooms/ # of baths, sq. ft. interior/land, parking, single family or condo/townhouse. Just remember to go over the *Across the Ocean to Paradise: Military Relocations Hawaii* because this gives pertinent information on what to expect in your Hawaii Relocation.
  • Get all your financial paperwork together so you will have it with you when you arrive.(Do not pack your bank statements, W-2’s, LES’s and important documents you will need to submit for your loan!)
  • If you have a couple of months to spare you may order your Certificate of Eligibility from the Veterans of Affairs office. It is not necessary to do so though, because our lenders order them online once you start your loan process and if anything is held up we have a VA office centrally located on Oahu for your convenience and it takes just minutes.
  • Start your loan process before you get here so you will have everything in place when you submit an offer for a loan. The loan process is the lengthy and of course an important part of the transaction so it is better to be proactive in your process. Your closing costs can be included with your loan so you will have minimal costs to come in with and to close with.
  • Appointments are made and off we go in search of your new home! When you decide that you would like to put in an offer we will go through the whole 12 page (plus addendum’s) contract and submit it to the sellers agent to present to the seller.
  • After the offer is accepted the loan process begins. You will meet with your Loan Officer to submit your complete application and submit all documentation needed for your VA Loan process packet. Then it goes to Underwriting to process the initial packet and order the appraisal with their VA approved appraisers.
  • The Condominium and/or Subdivision Association Documents should be ordered immediately after acceptance of the offer and in the buyer’s hands within 10-14 days after acceptance. This agent will make copies of the Budget, last three Association minutes and the Property Information form (RR105C) and submit it to the lender. They need this for the VA Loan Guidelines and process for your loan. (these documents will show how the Association budgets their money in reserve. % of owner occupants, any pending concerns or litigation going on and so forth.
  • Provided your loan process goes smoothly you should have a Conditional Loan Commitment Letter within the first three weeks in contract. This is an approval of your loan with Conditions. Maybe you need to submit a couple of more documents or the appraisal is not in yet or the survey and termite inspection are not done yet. These are the types of conditions that will be listed on this letter.
  • Within two weeks after the Conditional Loan Commitment letter is issued all the conditions should be complete for signing documents with escrow and the loan officer. Not to worry! I attend all signings with you.
  • In Hawaii, we do not sign at the same time as the Seller due to conflict of interest and we sign approximately four days before recording. After the signing, the loan officer takes the notarized and signed documents to go through processing and within 2.5 days the Lender should have funded the money for your loan to the escrow company. When escrow receives all monies then they will take the documents to the Bureau of Conveyances in Honolulu to record. By the next business day it will record and we usually get word between 8-10am. At that time, the home is legally yours and I will have already made arrangements and have your keys in hand to open the doors to your new home.

    Congratulations!

    It’s not easy moving across the Pacific Ocean let alone to a totally different “world” of people but you can do it with effort, motivation and a great Realtor®!

    Call me for a Relocation Packet and more info!

    Celeste “Sally” Cheeseman, Realtor Associate ®
    Century 21 Liberty Homes
    95-221 Kipapa Drive, Mililani, HI * (808) 375-1404
    http://www.hawaiihomesmarket.com/
    http://woohoosally.blogspot.com/

    Condo/Townhouse Living in Hawaii….and A Water Leak

    Townhouse/Condo living can be great easy living for homeowners that want a low maintenance courtyard and maintenance fees that take care of the bulk of insurance/repairs for the common elements of the structure, water, sewer, trash and parking. (at least this is in my Association and others may include electricity)

    For me (in my mid years) it was good to downsize and not have the added stress of yardwork and a big house to maintain. I also love the peace and quiet in our community.

    Just remember that if you have someone above or below you and you incur a bathroom (or any location i.e. kitchen, laundry etc) leak to be sure to:

    • Call the resident manager and your maintenance company immediately to inform them of the situation, especially if you have a unit above you and you don’t know where it’s coming from.
    • Call a LICENSED plumber IMMEDIATELY so you can eliminate the possibilities of where the leak is coming from and remedy the situation. If it is from your unit you certainly do not want the water leak going into other units because YOU will be responsible. If you are not the cause your resident manager and maintenance company will start the process of elimation by contacting all unit owners around you.
    • Do not let it go on and on because you are subjecting your home to severe damage and it becomes a health hazard when mildew and mold start occuring.
      Make sure you have condo/townhouse insurance (it’s minimal cost per year and will cover damage to others units and if it’s your unit it may cover water damage to carpet walls and other damaged parts of the home that do not fall under the Association insurance for the inside your unit.
    • Make sure you don’t accuse your neighbors to their face until you really find out who the culprit is. (I kept accusing them to my husband. I’m so glad I was pleasant to the neighbors….whew.)

    Following is my own personal experience so please take heed because it could happen to anyone!

    With my assumptions I not only made a fool of myself but those assumptions also proved me WRONG! Two weeks ago I was sitting on my toilet and in front of me on the bottom of the baseboard I noticed a really tiny puddle of water. I sopped it up and it went away until a few days later I saw it again. I pulled the baseboard up and lo and behold it was wet and I ran into my room and felt the carpet next to the wall that backs the bathroom and lo and behold it was wet too! I immediately assumed it was the unit above us because I heard the toddler in the bathroom and getting out and running around.

    In any event the following is what transpired:

    • Called the Association and the Resident Manager who in turn contacted the owner (there is a tenant above us). The owner showed up an hour later and told us that the tenants had a stopped drain and had rootered in the overflow pipe. Geez. That’s what it is!
    • The owner came that evening and assured us he fixed the overflow and we should not be receiving any more trouble.
    • We decided to call the plumber when we discovered the puddle in the closet getting bigger because we could not figure out why or where it was coming from.
    • Plumber came and cut two holes in our closet (picture to right is in between the two walls from my closet to the bathroom) and exposed the bathtub area. GIANT puddle, some mildew and starting of mold in a couple of spots. Great. He said the leak was coming from upstairs and we even asked the tenant if the plumber could look. The overflow was NOT changed and couldn’t have been changed because they would have had to cut through our ceiling to do it. The tenant told the plumber the landlord (owner) caulked it and that was it.
    • Leaking continues although we start monitoring during the night and next morning only to find out it was US! No one home upstairs and my husband jumped in the shower with me in the closet shining the mag light into the holes. Yup. It was us.
    • Called the plumber in the morning when we did the “experiment” again and it leaked…with no one home upstairs (they’re at work) He came yesterday afternoon and I informed him that the tub faucet started leaking, I found a crack on the bottom of the cheap fiberglass tub this townhouse came with and through the hole in the closet saw that the back side of the tub’s frame wasn’t even on the floor.
    • So, the plumber replaced the mixer valve and basically told us we need a new bathtub and until someone comes in we can get waterproof tape to hold out the water. So after he left my husband went and got heavy duty waterproof tape and “crazy glue” and glued and taped the crack and a couple of fractures. We took showers and though it’s not leaking from the bottom of the tub…there is STILL a leak only when running the shower. (the plumber said it was dry back there).

    Bottom line. I have someone coming this afternoon to give me an estimate on the tub replacement and when they rip it out we’ll surely find that other leak that is finding it’s way to the backside of the wall of the tub and dripping down the beam…that is getting soaked and dried…soaked and dried. I’m living with two holes in my closet that I need to keep open so I can keep drying it out under there and keep an eye on things. (I have since been wiping down the inside with clorox cleaner and spraying Lysol…and will call someone in to do it the correct way before the walls are sealed again)

    I think I’ll remodel my whole bathroom at this point with a nice heavy duty tub and solid surface walls, and new floors, toilet and cabinets and…..and…. my husband isn’t laughing at me anymore for “assuming” it was the neighbors. lol!

    How much did you say?