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City and County of Honolulu Down Payment Assistance Program: Helping You Own Your Home in Hawaii

Buying a home in Hawaii, especially in the vibrant City and County of Honolulu, can be a dream come true. However, the high cost of living and property prices can make this dream seem out of reach for many. Fortunately, the City and County of Honolulu Down Payment Assistance (DPA) Program is designed to help prospective homebuyers bridge the gap and achieve homeownership.


What is the City and County of Honolulu DPA Program?

The City and County of Honolulu DPA Program provides financial assistance to eligible low- to moderate-income homebuyers. This program aims to reduce the financial burden of down payments, making it easier for families and individuals to purchase their first home.


Key Features of the Program

  1. Financial Assistance: The program offers a deferred loan to help cover down payment and closing costs. This loan can significantly reduce the upfront financial requirements, making homeownership more accessible.

  2. Eligibility Requirements:

  • Income Limits: Applicants must meet specific income requirements based on the size of their household. These limits ensure that the program supports those who need it the most.

  • First-Time Homebuyer Status: The program is primarily aimed at first-time homebuyers, though exceptions may apply under certain conditions.

  • Property Requirements: Eligible properties are typically single-family homes, condominiums, or townhomes located within the City and County of Honolulu.

  1. Loan Terms:

  • Deferred Payment: The loan is deferred, meaning that no monthly payments are required until the home is sold, transferred, or refinanced.

  • Zero Interest: The loan is offered at zero interest, reducing the financial burden on homebuyers.


Benefits of the DPA Program

  • Increased Affordability: By reducing the amount needed for a down payment, the program makes buying a home more affordable.

  • Enhanced Buying Power: With financial assistance, buyers can consider a wider range of properties within their budget.

  • Community Stability: Homeownership promotes community stability and can lead to long-term economic benefits for the area.


How to Apply

Applying for the City and County of Honolulu DPA Program involves several steps:

  1. Pre-Approval: Obtain pre-approval for a mortgage from a participating lender.

  2. Homebuyer Education: Complete a homebuyer education course approved by the program. This course provides essential information on the home buying process and financial management.

  3. Application Submission: Submit a complete application package, including proof of income, pre-approval letter, and other required documentation.

  4. Property Selection: Once approved, you can begin the process of selecting a qualifying property and making an offer.


Contact Information

For more details about the City and County of Honolulu DPA Program, eligibility requirements, or to start your application, please contact us at:

Take the first step towards owning your dream home in Honolulu with the support of the DPA Program. We're here to help you every step of the way!

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