Buying a home in Hawaii can be expensive, but there are a number of assistance programs available to help moderate and low-income families make their dream of homeownership a reality. The Hawaii Homeowners Center (HHOC) provides education, information, and support to create successful first-time homeowners in the state. The Hawaii Housing Finance and Development Corporation (HHFDC) also offers resources and programs to help make housing more affordable. In addition, the Department of Housing and Urban Development (HUD) provides specific programs for each city and county in Hawaii. The HHOC Down Payment Assistance Mortgage Loan Program (DPAL) is one of the most popular assistance programs for first-time homebuyers.
This program provides financing with a minimum down payment of 3%, low interest rates, no mortgage insurance, and assistance with down payment and closing costs. This program is designed to help moderate and low-income families buy their first home. The HHFDC also offers a variety of resources to help make housing more affordable. They provide information on affordable homeownership opportunities, workshops for real estate agents, and assistance for homeowners who are struggling to pay for housing. In addition, they have created non-profit subsidiaries, HHOC Mortgage and HHOC Housing and Land Trust, with the mission of providing affordable financing and preserving affordable housing. Finally, HUD provides a list of specific programs for each city and county in Hawaii.
These programs are designed to help people find affordable housing options in their area. It is important to research all available options before making a decision on which program is best for you.