Hawaii Home Land Loans

Tax returns last two years personal and business proof of income paystubs and w 2s proof of assets.

Hawaii home land loans. Dhhl streamline refinance loans forms. Financing for vacant land purchases with construction plans within three years. Hawaii land loans first hawaiian bank skip to main content. Or to say it another way land loans require a higher down payment than the 20 you might be thinking from your experience with.

A land loan would be appropriate also for buyers who intend to hold for longer than three years but will have cash to pay off the loan sooner. Financing your hawaii custom home. Credit of up to one point paid on the land loan upon the construction refinance. When applying for a home loan the following documents will be required.

Dhhls loan services branch helps current lessees finance home construction. 19 2013 meeting the hawaiian homes commission approved creation of a streamline refinance loan product for lessees with hawaiian home general loan fund hhglf direct loans in good standing and an interest rate reduction loan product for delinquent loans either in the hhglf or to be refinanced with monies in the hhglf who meet specific criteria. Offers loans for home repairs farming and ranching. Maximum loan amount loan amounts up to 1000000.

Terms available 1 year 2 year 3 year. Fha loans with down payments as low as 225. In 1921 the federal government of the united states set aside approximately 200000 acres 810 km 2 in the territory of hawaii as a land trust for homesteading by native hawaiians. The law mandating this passed by the us.

Purchase a vacant lot in hawaii to build your dream home tomorrow. Homestreet sought to ensure that native hawaiians not only had the opportunity to purchase homes but to renovate them and refinance them as well. Loan amounts greater than 1000000 are considered on a case by case basis and will be subject to a larger down payment. Statements from banks investment companies mutual funds stocks etc.

With most loan types the land is a crucial part of the transaction and it was hard for some banks to understand land leases. Proof of insurance coverage. Build your dream home with a loan based on the value of your land and the cost of construction. Congress on july 9 1921 was called the hawaiian homes commission act hhca and with amendments is still in effect.

Request for certification of eligibility request for certification of eligibility form must be printed on legal size paper 85 x. You pay interest only until your home is completed at which time your loan will be easily converted to a permanent fixed rate or adjustable rate mortgage. Typically land loans are available for up to 60 70 of the purchase price. The land loan allows buyers to buy land now and build later offering low fixed rates and payments and interest only payments with balloon payment.