Rep. Tulsi Gabbard Applauds Decision to Increase Loan Limits for Hawai"i Veterans

Press Release

Congresswoman Tulsi Gabbard (HI-02) today commended the U.S. Department of Veterans Affairs (VA) for raising the loan limit for Hawai"i veterans. In January, the VA announced it would significantly reduce the maximum loan guarantee for Oʻahu veterans from $750,000 to $625,500.

"Veterans in Hawai"i are challenged with some of the highest costs of living in the nation," said Congresswoman Tulsi Gabbard. "Over the past year, I have worked consistently to ensure that the VA's policies reflect the unique needs of veterans from across Hawai"i. The VA's decision to increase the cap on the home loan guaranty program better fits the real cost of a single family home in Hawai"i, and is welcome news for thousands of veterans and their families who otherwise would be unable to utilize the benefit they earned."

The VA home loan guaranty program allows eligible veterans to apply for financing through private lenders and mortgage companies at more favorable rates. Under the new guidelines, loan guarantees are capped at $721,050 for Oahu, $713,000 for Kaua"i, $657,800 for Maui county, and remains unchanged for Hawai"i Island at $625,500. Last month, Congresswoman Tulsi Gabbard announced a resolution to a long-standing dispute preventing veterans in Hawai"i from using their benefits to purchase homes or refinance existing loans on properties served by rainwater catchment systems.

Source