Number of VA loans issued in Hawaii increased by 171.5% from Q3 2023 to Q3 2024

Denis R. McDonough Secretary of Veterans Affairs | Official website

By Aloha State News

Nov 12, 2024

The U.S. Department of Veterans Affairs (VA) issued 543 home loans in Hawaii, totaling $398.1 million, during the third quarter of the fiscal year 2024, according to figures provided by the Veterans Affairs Home Loans Index.

In the same quarter of the previous year, Hawaii issued 200 home loans, totaling $147.5 million.

The VA assists service members, veterans, and eligible surviving spouses in achieving homeownership through loans provided by banks and mortgage companies.

A portion of the loan is guaranteed by the VA, which allows the lender to provide better rates.

Several VA housing programs can help members buy, build or repair their homes. Loan types may include purchase loans, Interest Rate Reduction Refinance Loans (IRRRL), and Adapted Housing Grants, which are geared toward veterans with a service-connected disability.

VA Home Loans in Hawaii (Q3 2023 vs. Q3 2024)