Aloha, service members! Here at Hawaii VA Loans, one of our goals is to be your go-to, trustworthy resource for information on home buying and the VA loan process. In order for us to achieve that, we think it is important to break it down for you. Not in dance moves, but in data, BAH style. We’ll leave the break dancing to you – for after you sign those closing papers.
What can your BAH buy?
We love it when there are condos for sale in Hawaii’s real estate market that are already approved by the VA! Yet, here at Hawaii VA Loans, we are more than happy to go through the process of getting your ideal condo VA approved for purchasing. During your house hunting search, you can always come to our website to use our condo check tool to find out if a particular condo is on the approved list. If it’s not, contact us and we can help!
It’s our first BAH Breakdown of 2016, and we’re highlighting an attractive townhome in the VA approved condo community of Nohana II at Mililani Mauka.
The town of Mililani is located in the central valley of Oahu between the island’s two volcanic mountain ranges. This location is particularly convenient for service members assigned to Schofield Barracks and Wheeler Army Airfield; your commute will be approximately 15 minutes to either base (less without traffic).
The community of Mililani has two distinct census areas:
- Mililani Town, located to the west of Interstate H-2, is the older section of Mililani with approximately 28,000 residents.
- Mililani Mauka, the newer portion, is located to the east of H-2, and is made up of approximately 21,000 residents according to the 2010 Census.
In Mililani, you’ll have easy access to the city life of Honolulu to the south (16 miles via H-1) or the country life of Oahu’s fabled North Shore (13 miles via HI-803), where some of the world’s best surfers reside and compete each winter. It’s also a great community for families with its libraries, parks, and public golf course. The Town Center of Mililani has plenty of restaurant choices, a movie theater, entertainment and events, as well as a variety of shopping options. It’s no wonder Money magazine named Mililani one of the “Best Places to Live in the U.S. in 2005.”
Now, let’s take a look inside this appealing townhome!
- two bed / two bath
- upgrades: master bath (marble, cast iron tub, double vanity)
- flooring: bamboo laminate
- price: $475,000
- enclosed 1-car garage w/auto opener, w/1 open (tandem) stall & ample visitor parking
- ac units
- washer & dryer
- private, enclosed yard
- walk-in master closet
The BAH Breakdown
Where: 95-995 Ukuwai Street 2704 Mililani HI 96789
Bases nearby: Schofield Barracks – 6.1 miles; Wheeler Army Airfield – 6.8 miles; Pearl Harbor – 15.1 miles; Tripler Army Medical Center – 15.3 miles
Points of Interest: North Shore – 13.3 miles; Airport – 15.1 miles (20 minute drive); Downtown Honolulu – 19 miles
Property type: Townhouse
Asking price: $475,000
Living Square Footage: 920
Schools: Mililani Mauka School, Mililani Middle School, Mililani High School
Interest Rate: 3.875%
Monthly principal payment: $2,281
Maintenance Fees: $359
Total Monthly Payment = $2,773
What BAH Rates Cover This Monthly Payment?
Service Members with Dependents
The 2016 Hawaii BAH Rates support the ability for multiple active duty ranks with dependents to afford this townhome if purchased at its asking price. For E-6 to E-9, W-1 to W-5, O-1E to O-3E, and O-2 and above, this monthly payment of $2,773 will be covered by your Basic Allowance for Housing.
Note: The BAH rates for E-1 to E-4 ($2,613), E-5 ($2,679), and O-1 ($2,706) fall just under this estimated monthly payment, but could still be affordable if factoring in a second income from a spouse or dependent.
Service Members without Dependents
The 2016 Hawaii BAH Rates support the ability for multiple active duty ranks without dependents to afford this townhome if purchased at its asking price. For E-9, W-3 to W-5, O-2E to O-3E, and O-3 and above, this monthly payment of $2,773 will be covered by your Basic Allowance for Housing.
Would you like to find out if you qualify for a purchase price like the properties above? Fill out this online application or contact VA Loan Specialist, Brandi Brickler at 808-388-1550. Interested in viewing this property in-person? Contact Primary Properties Inc. at 808-550-0818.
Stay up to date through our Facebook page as we highlight more properties in future BAH Breakdown posts!