This is more encouraging news for first-time home buyers in Hawaii. An article from HawaiiNewsNow.com announced that the Hawaii Housing Finance and Development Corporation is now making $43 million in loan funds available to eligible first-time home buyers through its Hula Mae program.
Participating lenders in this program will not only offer a 30-year mortgage at a competitive rate, but also a down payment assistance option. This is intended to help home buyers that can make the monthly payments, but don’t have enough to cover the down payment. Of course, buyers must meet the program criteria in order to be eligible. Get all available information on the program requirements including a list of participating lenders.
One of the criteria states purchase price limits by county. For example, Honolulu County has a purchase price limit of $723,417 for a new or existing single-family residence, townhouse, or condo unit. Here are examples of available homes in that price range:
Kapolei Home (MLS# 1201145)
Waikele Home (MLS# 1204021)
There may never be a better time for first-time buyers! So, if you are planning to buy a home on Oahu, please contact me at 808-721-7876, or email me Cheryl@HawaiiLife.com to help you find your dream home!