Hawaii is offering help to first time homebuyers

The State of Hawaii is offering to help first time homebuyers get mortgages and have developed special loan programs to help them purchase their first home.  The state is offering 30-year fixed rate mortgages for as little as 3% down for first time home buyers.  They reason that there are many potential home buyers that lack the capital for a down payment yet could easily afford monthly mortgage payments.  The loans offered by the Hawaii housing finance and development corporation, HHFDC, have rates as low as 3.45% for those that have 20% down and the highest current rate is 3.8% for those only putting 3% down.

The program currently has $43 million to offer to qualified individuals.  The state is working through several local lenders offering this.  Please contact us to learn more.

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