These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders, fill out this form here and I will connect you with one.

Hawaii 🌺

Hey there! If you're thinking of buying a home for the first time, and haven't saved up for a down payment, you still might be able to get it done.

Before I jump into the programs, let me briefly explain how down payment assistance works.

How it works

Down payment assistance comes in two forms: a grant, or a loan

A grant doesn't require repayment.

A loan does require repayment, but there are 3 different ways:

Monthly repayment. This is where they charge you interest and a monthly payment until the loan is paid off

Silent second. This is where they don't charge you interest, they don't charge you monthly payments, they just require that you pay it back when you sell the home.

Forgivable. This is where they forgive the loan as long as you meet certain criteria. A common requirement is that you live in the home as your primary residence for a set number of years. Once you've completed the timeframe, they forgive your loan and you don't need to pay it.

Approved lenders only

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Now that we have that out of the way, let's jump in! Below are the local programs available to help make homeownership more accessible.

Hawaii Homeownership Assistance Program

• What It Offers: Provides financial assistance for down payment and closing costs.
• Who Qualifies: First-time homebuyers and eligible residents.
• Income Limits: Based on area median income (AMI).
• Repayment: Terms vary depending on the specific program.

Honolulu Down Payment Loan Program

• What It Offers: Provides up to $40,000 in down payment and closing cost assistance.
• Who Qualifies: First-time homebuyers purchasing within Honolulu County.
• Income Limits: Must not exceed 120% of AMI.
• Repayment: Deferred loan with favorable repayment terms.

Hula Mae Mortgage Loan Program

• Assistance: Offers affordable 30-year fixed-rate mortgages and down payment assistance up to 5% of the loan amount.
• Eligibility: First-time homebuyers who meet income and purchase price limits.

HHOC Down Payment Assistance Loan (DPAL) Program

• Assistance: Provides up to $75,000 as a second mortgage to cover down payment and closing costs, allowing borrowers to avoid mortgage insurance requirements.
• Eligibility: First-time homebuyers with household incomes up to 120% of the area median income.

Maui

• First-Time Home Buyer's Down Payment Assistance Program
  • Assistance: Provides financial support to low- to above-moderate-income first-time homebuyers for down payment and closing costs.
  • Eligibility: Applicants must meet income requirements and other criteria.

Kauai

• Home Buyer Loan Program
  • Assistance: Provides loans to income-eligible first-time homebuyers for down payment and closing costs.
  • Eligibility: Applicants must meet income requirements and other criteria.

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders, fill out this form here and I will connect you with one.