The Hawaii Housing Finance and Development Corporation (HHFDC) offers homebuyers the Hula Mae Mortgage Loan Program. In addition to an affordable home loan, the program provides assistance toward making the down payment associated with a mortgage.

FHA Mortgage Loan Rates

April 26, 2018
FHA Rates for April 26, 2018
Offering 30 Year Fixed Mortgages
Offering 15 Year Fixed Mortgages
Use our mortgage calculators
to see what you can afford!
FHA.com is a private company, is not a government agency, and does not make loans.

Prequalify Now!

Compare mortgage rates for your refinance or home purchase loan.

CHOOSE A LOAN TYPE

then
get
your

FREE CREDIT SCORE

Do you know what's on
your credit report?
FHA.com is a private company, is not a government agency, and does not make loans.

Hula Mae Mortgage Loan Program

Financial Assistance for Homebuyers in Hawaii

In an effort to help potential homebuyers achieve their goals of homeownership, the Hawaii Housing Finance and Development Corporation (HHFDC) offers individuals the Hula Mae Mortgage Loan Program. In addition to an affordable home loan, the program provides assistance toward making the down payment associated with a mortgage.

Available Assistance
In addition to a 30-year mortgage loans at very competitive interest rates, the Hula Mae Program offers income-eligible, first-time homebuyers down payment assistance up to 3 percent of the property purchase price. Individuals applying for down payment assistance must keep in mind that the interest rates for such loans are subject to change

Eligibility Requirements
In order to be considered eligible for the Hula Mae Program, applicants must be older than 18 years of age, residents of Hawaii, and citizens or declarant aliens of the U.S. This program is designed for only first-time homebuyers; any individual who has had any ownership interest in a principal residence or a beneficial interest in a land trust involving a principal residence—within or without the State of Hawaii—cannot qualify for the program. Prior recipients of the Hula Mae loan are also not eligible. 

Property Guidelines
Any property being purchased must serve as the applicant’s primary residence, be located within the State of Hawaii, and fall under the purchase price limit of each county. Eligible properties include new or existing single-family residences and townhouse/condominium units.

Income Limits
Applicants’ annual household income must fall within the program’s set income limits (shown below), adjusted for county and family size. Household income is defined as all income received by household members (18 years or older) who will be living in the home, even if they are not on the mortgage.

Honolulu County
2 persons or less: $123,600
3 persons or more: $144,200
 
Maui County
2 persons or less: $107,160
3 persons or more: $125,020
 
Kauai County
2 persons or less: $98,880
3 persons or more: $115,360
 
Hawaii County
2 persons or less: $88,080
3 persons or more: $102,760
 
(Note: These figures were accurate at the time of publication and may no longer be current - visit the program website for updated information.)

Down Payment Grants in Hawaii

This Down Payment Assistance Loan allows borrowers to purchase a home with a 5 percent down payment and avoid mortgage insurance requirements through a second mortgage/the down payment loan. The maximum loan amount available to applicants is $75,000.

The Honolulu Down Payment Loan Program provides applicants up to $40,000 in assistance funds in the form of a zero-fee, zero-interest loan with a 20-year amortization term.  Minimum monthly payments can be lowered, based on the applicant’s credit qualifications.

The Hawaii Housing Finance and Development Corporation (HHFDC) offers homebuyers the Hula Mae Mortgage Loan Program. In addition to an affordable home loan, the program provides assistance toward making the down payment associated with a mortgage.

FREE CREDIT SCORES   From All 3 Bureaus  

Do you know what's on your credit report?

Learn what your score means.


FHA.com Reviews

FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier. Take a look at some of the reviews from other FHA.com visitors!