The City and County of Honolulu’s Down Payment Loan Program is part of the City’s efforts to promote homeownership and create a strong community. Utilizing HOME Investment Partnership Act funds from the U.S. Department of Housing and Urban Development, this program provides a zero interest loan to qualified low- and moderate-income families to meet down payment requirements for home purchase.
Who may apply for the City’s Down Payment Loan?
Prospective homebuyers who have not owned a residential property and whose annual household incomes are under the maximum income shown below:
| Number in Household | 2014 Annual Income* | |
| 1 | $53,700 | |
| 2 | 61,350 | |
| 3 | 69,000 | |
| 4 | 76,650 | |
| 5 | 82,800 | |
| 6 | 88,950 | |
| 7 | 95,050 | |
| 8 | 101,200 | |
| 9 | 107,200 | |
| 10 | 113,400 |
*These income limits are subject to periodic revision.
What is the maximum loan amount?
The loan limit is $40,000. Loans will be made on a first-come first-served basis subject to the availability of funds.
What is the interest rate and loan fee?
The interest rate is 0% for all income-eligible borrowers. There is no loan fee.
