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Interest-free down payment loans now available for home purchase - Honolulu, Hawaii news, sports & weather - KITV Channel 4

Interest-free down payment loans now available for home purchases

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The city is reminding the public that qualified low-income and moderate-income families can receive interest-free down payment loans for home purchases. 

The Department of Community Services is administering $535,000 in Federal HOME funds for the loan program, and is accepting applications from applicants’ mortgage lenders for loans up to $40,000.

Loans will be awarded on a first-come, first-served basis to qualified households. 

Interested families are required to apply for a loan through a mortgage lender after being approved for a first mortgage. To qualify, applicants must provide five-percent of the purchase price as a down payment and complete an approved home ownership course. 

A home inspection is also required, but there is no cost to apply. 

For more information, please call the Department of Community Services Loan Branch at 768-7076.