Deferred Closing Cost Assistance Loan
This plan offers a deferred loan for 15 years with no interest and no monthly repayments to help with closing costs; it also provides options for interest rate reduction.
First-time homebuyers with low to moderate income (120% AMI or below) qualify.
You must participate in first-time homebuyer education and attend a coaching session through the Hawaii HomeOwnership Center.
You can receive a loan of up to $15,000 with a matching ratio of 6:1.
HHOC Mortgage needs to originate the primary mortgage.
The borrower must use the home as their primary residence and submit an occupancy affidavit to verify this annually.
Applicants across the state can access this assistance.