VA Loan Basics





VA Home Loans Hawaii

Candy Hill

NMLS 281529

Mortgage Loan Originator

Office: (808) 676-3338

Cell: (808) 382-9752

Purchase & Cash-Out Refinance Home Loans


With a Purchase Loan, we can help you purchase a home at a competitive interest rate.


VA's Cash-Out Refinance Loan is for homeowners who want to take cash out of your home equity to take care of concerns like paying off debt, tuition for school, or home improvements.  The Cash-Out Refinance Loan can also be used to refinance  a non-VA loan into a VA loan.  VA guarantees loans up to 100% of the value of your home.


Interest Rate Reduction Refinance Loan


The VA Interest Rate Reduction Loan (IRRL) lowers your interest rate by refinancing your existing VA home loan.  Your monthly mortgage payment will decrease with a lower interest rate.



IRRL Facts


  • No appraisal or credit underwriting package is required when applying.
  • An IRRL may be done with "no money out of pocket" by including all costs in the new loan or by making the new loan at an interest rate high enough to enable the lender to pay the costs.
  • When refinancing from an existing VA ARM loan to a fixed rate loan, the interest rate may increase.
  • No lender is required to give you an IRRL, however, any VA lender of your choosing may process your application IRRL.
  • You may NOT receive any cash from the loan proceeds.




An IRRL can only be made to refinance a property on which you have already used your VA loan eligibility. It must be a VA to VA refinance, and it will reuse the entitlement you originally used.