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*|
*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.