HHFDC; Downpayment Loan Assistance Program
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
Amends the Downpayment Loan Assistance Program by: removing the prohibition on combined loan-to-value ratios; clarifying the Hawaii Housing Finance and Development Corporation's authority to establish interest rates and allow payment waivers and interest forgiveness; authorizing financial institutions, mortgage lenders, and other loan originators to originate downpayment loans; and reducing the borrower's required personal contribution toward the downpayment. Authorizes borrowers to use a portion of a downpayment loan to pay for closing costs, prepaids, and reserves for the purchase of the residential property for which the downpayment loan is provided. (CD1)
Bill text
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Document of record
- Version
- HB2270 .PDF file
- Published
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Sponsors
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1 on record
Primary sponsor
Nakamura (introduced By Request Of Another Party)
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