• Hawaii HomeReady Loan Program


    Fannie Mae just made qualifying for a mortgage a lot easier with the HomeReady affordable lending program!

    First-Time Home Buyer
    The relaxed lending guidelines are ideal for a first-time home buyer; however, you do not need to be a first-time home buyer to be eligible for the Hawaii HomeReady Loan program.

    Home Ready Benefits:  

    Low Down Payment
    Minimum 3% down for first-time home buyers and repeat buyers.

    Additional income for qualifying
    You may use the rental income from a detached or attached accessory dwelling (apartment or ohana) for qualifying when purchasing your primary residence.

    Need help qualifying
    All borrowers do not need to reside in the property. For example: parents, who won’t be occupying the home, can be a co-borrower to assist their children. Do you still need additional income to qualify? Take a look as the MCC Grant offered by PHL.

    More affordable
    Borrowers putting less than 20% down will pay a reduced Private Mortgage Insurance premium and will qualify for a lower rate than with traditional conventional loans. 

    Home Buyers Counseling
    Whether you're buying a home or condo for the first time or getting back into the ever-changing market, it is a big deal. Feeling informed and confident can help you navigate all of the steps of the loan process.

    Income
    Some income restrictions may apply.