Tag Archives: seller credit

VA Loans in Hawaii (Rebate and Seller Credits)

If you are thinking about using your VA Loan Eligibility in Hawaii to purchase a home, make sure you are aware of wording for the contract.

With a VA Loan in Hawaii, the “Seller Credit” that is identified in Paragraph C-67 of the Purchase Contract MUST be phrased in a way that the Buyer is able to use the credit to its full extent.

This topic is very important when lenders are offering “Rebates” on loans because the rebate CANNOT be used to pay off debt of the Buyer but if worded correctly in Paragraph C-67, the Seller credit CAN be used to pay off debt.   As of yesterday, one of my Hawaii VA loan officers offered a rate of 4.25% on  a 30 year fixed rate VA loan with a 2 point rebate! 

I am not an attorney or a tax professional but I do know how to ask the right people for the answers in order to get the best deal for my Buyers.  For more information, refer to your real estate professional or give me a call anytime if you don’t have a real estate professional working for you.