Aloha Lenders,

Mahalo for attending the Hawaii Housing Finance and Development Corporation (HHFDC) Hale Kamaʻāina Single Family Mortgage Program (Program) training on October 15th. We appreciate your participation and continued partnership in helping Hawaii’s homebuyers achieve their dream  of affordable homeownership.

Since the training, HHFDC has clarified the minimum borrower contribution and Program fees. These updates were shared in the October 29th session and are summarized below.

Program Options:

Option 1: Low-Rate (No DPA) 

• Borrower(s) follow standard Agency/GSE guidelines for minimum down payment requirement.
• HHFDC Fee: $500 (first mortgage only)

Option 2: Assisted Rate Option (with 4% DPA) 

• Borrower(s) receives a 4% DPA loan from HHFDC as a second mortgage.
• Borrower(s) must contribute 5% of the sales price from their own funds to qualify for the DPA.
• The borrower’s down payment contribution may include earnest money deposits and/or gift funds.
• HHFDC fee: $1,000 total ($500 per mortgage for the first and second loans).

We appreciate your attention to this update and your continued support of the HHFDC Hale Kamaʻāina Program. Please ensure your teams are aware of these changes when counseling borrowers and structuring loans.

On-Demand Program Training now available!

If you missed the live session or want a refresher, you can access the Hale Kamaʻāina Single Family Mortgage Program course anytime at eHPUniversity.com, and selecting “HHFDC Hale Kamaʻāina Single Family Mortgage Program.”

This self-paced course provides all key details for originating and managing Program loans.

Mahalo for your continued partnership and support of the Hale Kamaʻāina Single Family Mortgage Program. Please ensure your teams are familiar with these updates when counseling borrowers and structuring loans. If there are any questions, please contact dbedt.hhfdc.mortgage@hawaii.gov or (808) 587-0578.

Best Regards,

eHousingPlus

Program Administrator on behalf of HHFDC