County of Kaua’i Home Buyer Loan Program
In order to help individuals achieve their dreams of homeownership, the County of Kaua'i offers the Home Buyer Loan Program, which provides low-interest loans to income-eligible first-time homebuyers living on the island of Kaua'i.
Available Assistance
Under the county’s Home Buyer Loan Program, first-time homebuyers can apply for primary and GAP mortgages, made available to income-qualified homebuyers. The maximum loan amount for a Primary loan is $450,000.00. The interest rate is based on the borrower's Kaua'i Median Household Income (KMHI), amortized for a period of 30 years, with a 15-year balloon.
The maximum loan amount for a GAP mortgage is $150,000.00. The interest rate is based on the borrower's KMHI, amortized for a period of 30 years, with interest-only payments for the first seven (7) years.
Eligibility Requirements
To qualify for the Home Buyer Loan Program, applicants must be U.S. citizens or resident aliens who are also first-time homebuyers (those who have not owned a majority interest in a principal residence or real estate for a period of 3 years). They must be 18 years or older and must complete a Homebuyer Education program. To be deemed eligible, applicants’ household income must fall under 80% of the KMHI.
Property Guidelines
Any home purchased with program funds must be located on the island of Kaua'i and be situated outside of the FIRM 100-year flood boundary. The property must be a single-family detached dwelling or condominium unit, must pass the federal minimum quality standards for existing homes, and must serve as the borrower’s primary residence.
Note: All information mentioned above was accurate at the time of publication and may no longer be current - visit the program website for updated information.
Available Assistance
Under the county’s Home Buyer Loan Program, first-time homebuyers can apply for primary and GAP mortgages, made available to income-qualified homebuyers. The maximum loan amount for a Primary loan is $450,000.00. The interest rate is based on the borrower's Kaua'i Median Household Income (KMHI), amortized for a period of 30 years, with a 15-year balloon.
The maximum loan amount for a GAP mortgage is $150,000.00. The interest rate is based on the borrower's KMHI, amortized for a period of 30 years, with interest-only payments for the first seven (7) years.
Eligibility Requirements
To qualify for the Home Buyer Loan Program, applicants must be U.S. citizens or resident aliens who are also first-time homebuyers (those who have not owned a majority interest in a principal residence or real estate for a period of 3 years). They must be 18 years or older and must complete a Homebuyer Education program. To be deemed eligible, applicants’ household income must fall under 80% of the KMHI.
Property Guidelines
Any home purchased with program funds must be located on the island of Kaua'i and be situated outside of the FIRM 100-year flood boundary. The property must be a single-family detached dwelling or condominium unit, must pass the federal minimum quality standards for existing homes, and must serve as the borrower’s primary residence.
Note: All information mentioned above was accurate at the time of publication and may no longer be current - visit the program website for updated information.
First-Time Homebuyer Programs in Hawaii
County of Kaua’i Home Buyer Loan Program
Hawaii's County of Kaua'i by providing the Home Buyer Loan Program to income-eligible first-time homebuyers living on the island.
First-time homebuyer assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.
FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.
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