VA Loan Requirements - Hawaii

Hawaii VA Loan Requirements


Is a Pest Inspection Required?

Wood Destroying Insect Inspections are required on all existing residential properties, including condominium projects that are 5 stories or less in height, due to the high probability of termite infestation in the area. The State of Hawaii mandates that Wood Destroying Insect Inspections be reported on a State Prescribed PC-9 Form which is valid for 15 days. For the purposes of closing the loan, the VA considers the Wood Destroying Insect Inspection and the PC-9 Form to be valid for 90 days. This 90 validity period only applies to closing a loan for VA Lending Purpose s; it does not extend the warranty that the property is free from wood destroying insects to 90 days.


Is a Heater or Air Conditioning System Required?

No, Hawaii is a tropical climate and heating and/or cooling systems are not required to meet VA minimum Property Requirements for VA Lending purposes.


Can I Use My VA Loan to Purchase a Leasehold Estate Property?

Yes, however a copy of the lease must accompany the appraisal request. The terms of the lease must be approved by the VACO/NPG prior to commencement of the appraisal assignment. The total Lease Term must exceed the Mortgage Term by 14 years and the Mortgage Term must not exceed the Fixed Rent Period of the Lease.


Can I Purchase a Home in a Lava Zone?

Yes, The VA will accept properties located within Lava Zone 1 and Lava Zone 2 for VA Lending purposes. A Lava Insurance Policy, with coverage for at least the amount of the loan, is required for all properties located within Lava Zone 1 and Lava Zone 2.


These materials are not from HUD, VA, or FHA and were not approved by HUD or any other government agency.