When applying for a VA loan, it's important to remember that an appraiser is always required to estimate the true value of the home. Their decision affects the bottom line: the VA will only back a loan to the maximum value of the home. It may come as a surprise, but where you live can affect appraiser fees. The VA has a few regional loan centers that handle multiple states, and their standards set the bar on how much you pay for the appraiser to look at the home.
This week's regional center spotlight: Honolulu
The Loan Guaranty Division is responsible for the administration of the VA's Home Loan Benefit Program and for the Native American Direct Loan Program in the Pacific. The Division is also responsible for the administration of the guaranteed loan program. For veterans with sufficient eligible service, the government will guarantee a participating lender that a loan secured by a mortgage on the home will be repaid by the veteran in a timely manner. The division performs four unique functions in the administration of the program. These functions are Construction and Valuation, Loan Processing, Loan Service and Property Management.
Regions Handled:
- Hawaii
- Guam
- American Samoa
- Commonwealth of the Northern Marianas
| Home Type | Current Appraisal Fee | New Appraisal Fee Effective 1/1/2013 |
| Single Family Homes, Condominiums and Liquidations | $525.00 | $650.00 |
| Multi-Family Units - Two Units | $625.00 | $1,000.00 |
| Multi-Family Units - Three Units | $725.00 |
$1,100.00 |
| Multi-Family Units - Four Units | $825.00 |
$1,200.00 |
| Complex Properties (i.e. oceanfront, custom built) | N/A | Negotiable |
| Iinspection Fees | $150.00 | $200.00 |
| Geographic Area | Current Timeliness Requirement | New Timeliness Requirement Effective 1/1/2013 |
| Oaho | 10 Business Days |
14 Business Days |
| Neighbor Islands (Kauai, Maui, Molokai, Lanai, Hawaii) | 11 Business Days | 14 Business Days |
| Guam | 12 Business Days | 14 Business days |
Contact Information:
| Questions About | Who to Contact |
| Appraisals, TAS, Value Determination, Property Requirements, Condominium Issues, Reconsideration of Value, LAPP | Roxanne Kimm-Yanagi, Staff Appraiser Phone: (808) 433-0484 Email: APPRAISALS.VBAHON@VA.GOV |
| Specially Adaptive Housing | Darryl Oshiro, SAH Agent Phone: (808) 433-0485 Email: SAH.VBAHON@VA.GOV |
| Loan Processing, Underwriting, ACE, webLGY, Eligibility for the Home Loan Program, Lender/Agent ID Numbers, Native American Direct Loan Program | David Saito, Loan Specialist Phone: (808) 433-0480 Cherie Castanares, Loan Specialist Phone: (808) 433-0483 Email: LGY.VBAHON@VA.GOV |
| Loan Servicing | Susan Kanehailua, Loan Servicer Phone: (808) 433-0486 Email: LGY.VBAHON@VA.GOV |
