Hawaii First-Time Buyer Programs
Pacific Home Loans provides a comprehensive suite of first-time homebuyer loan programs tailored to residents in Hawaii. Our commitment is to enhance your likelihood of pre-qualification for your inaugural home or condominium purchase. Among our offerings are specialized loan programs, including but not limited to Home Ready, Home Possible, FHA, USDA, and VA, all strategically designed to cater to the unique needs of first-time homebuyers, ensuring a seamless and tailored financing experience.
HomeReady
Purchase a home with as little as 3% down payment. Aimed at low to moderate-income borrowers, HomeReady includes innovative features such as considering non-borrower household income to enhance accessibility for a broader range of applicants.
Home Possible
Home Possible is a mortgage initiative from Freddie Mac that fosters affordable homeownership, particularly for low to moderate-income individuals. Purchase a home with as little as 3% down payment.
FHA Loan
The Federal Housing Administration (FHA) Loan is a government-backed program that facilitates access to homeownership for a diverse range of individuals. With a focus on down payments as low as 3.5% and more lenient credit requirements, FHA loans are popular among first-time homebuyers and those with moderate incomes, providing a pathway to homeownership with government-backed security.
VA Loan
VA Loans, guaranteed by the Department of Veterans Affairs, are dedicated to serving eligible military veterans and service members. Offering favorable terms such as 0% down payment and competitive interest rates, VA Loans make homeownership more accessible for those who have served in the military, recognizing and honoring their contributions to the nation.
Additional First-Time Buyer Resources
In addition to the first-time home buyer loan programs, Pacific Home Loans offers the Mortgage Credit Certificate (MCC) Grant and resources for Home Buyers Counseling.
With the MCC Grant you will increase your buying power by reducing your employment tax equal to 20% of your annual mortgage interest. This could save you thousands of dollars per year.
MCC Grant
The Mortgage Credit Certificate (MCC) Grant is a financial incentive designed to assist homebuyers by providing a dollar-for-dollar reduction in federal income tax liability. This program aims to make homeownership more affordable, allowing eligible individuals to claim a percentage of their annual mortgage interest as a tax credit, thereby enhancing their overall purchasing power and long-term affordability.
Homebuyer Counseling
Homebuyer Counseling is a personalized advisory service designed for those entering the homeownership journey. This educational resource provides guidance on budgeting, mortgage options, and the homebuying process, empowering individuals to make informed decisions for successful and sustainable homeownership.
