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new PROGRAM & application process
new PROGRAM & application process
HICDC has expanded its homeownership program to include self-help and turnkey housing. Projects coordinated and developed under the new Homeownership Program will be based on the type and availability of financing programs that HICDC is able to secure in order to make a project feasible and successful. HICDC's ability to create continuous and affordable projects for our community will mean that those that are interested are mortgage ready. As such, HICDC is implementing the following NEW application process.
HICDC has expanded its homeownership program to include self-help and turnkey housing. Projects coordinated and developed under the new Homeownership Program will be based on the type and availability of financing programs that HICDC is able to secure in order to make a project feasible and successful. HICDC's ability to create continuous and affordable projects for our community will mean that those that are interested are mortgage ready. As such, HICDC is implementing the following NEW application process.
Effective August 1, 2024, securing a position for application consideration will require completion of both of the following two (2) requirements. Since application consideration will now be based on first-come, first-served compliance with these requirements, your ability to secure a position for application consideration will depend on your timely response.
Effective August 1, 2024, securing a position for application consideration will require completion of both of the following two (2) requirements. Since application consideration will now be based on first-come, first-served compliance with these requirements, your ability to secure a position for application consideration will depend on your timely response.
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requirement #1: homebuyer education
requirement #1: homebuyer education
Complete one (1) of the following for every adult household member who will be a party to the mortgage loan (and email this documentation to info.hicdc@gmail.com):
Complete one (1) of the following for every adult household member who will be a party to the mortgage loan (and email this documentation to info.hicdc@gmail.com):
▪️ Complete a Home Buyer's Education course and provide evidence of a Certificate of Completion from Hawaii Homeownership Center.
▪️ Complete a Home Buyer's Education course and provide evidence of a Certificate of Completion from Hawaii Homeownership Center.
Contact information
Contact information
Hawaii Homeownership Center
Hawaii Homeownership Center
(located at Hawaii Community Federal Credit Union)
(located at Hawaii Community Federal Credit Union)
73-5611 Olowalu Street, Kailua-Kona, HI, 96740
73-5611 Olowalu Street, Kailua-Kona, HI, 96740
OR
▪️ (1) Complete the (a) Homebuyer Education Workshop and (b) Financial Education Workshop and provide evidence of a Certificate of Completion, and (2) obtain a credit report from Hawaiian Community Assets.
▪️ (1) Complete the (a) Homebuyer Education Workshop and (b) Financial Education Workshop and provide evidence of a Certificate of Completion, and (2) obtain a credit report from Hawaiian Community Assets.
Contact information
Contact information
Hawaiian Community Assets
Hawaiian Community Assets
1315 Kalaniana'ole Avenue, Hilo, HI, 96720
1315 Kalaniana'ole Avenue, Hilo, HI, 96720
Contact: Intake Team
Contact: Intake Team
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REQUIREMENT #2: ELIGIBILITY DOCUMENTATION
REQUIREMENT #2: ELIGIBILITY DOCUMENTATION
Upon review/acceptance of the documentation submitted for Requirement #1, HICDC will contact you to request additional documentation related to household composition, income, and assets. Please submit all requested documentation by all deadlines established by HICDC.
Upon review/acceptance of the documentation submitted for Requirement #1, HICDC will contact you to request additional documentation related to household composition, income, and assets. Please submit all requested documentation by all deadlines established by HICDC.
Note: For our homeownership program, HICDC will typically observe the following income limits (which are subject to change at any time by the funder) when evaluating eligibility.
Note: For our homeownership program, HICDC will typically observe the following income limits (which are subject to change at any time by the funder) when evaluating eligibility.
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WHAT's NEXT?
WHAT's NEXT?
After HICDC determines that you have (1) satisfied both Requirement #1 and Requirement #2, and (2) met the eligibility requirements based on its review of the documentation provided, you will be informed of your placement on the "Mortgage Ready List", based on a first-come, first-served basis.
After HICDC determines that you have (1) satisfied both Requirement #1 and Requirement #2, and (2) met the eligibility requirements based on its review of the documentation provided, you will be informed of your placement on the "Mortgage Ready List", based on a first-come, first-served basis.
Those that do not meet all requirements or fail to provide/respond timely to all requests for documentation will be unable to secure a position on the Mortgage Ready List.
Those that do not meet all requirements or fail to provide/respond timely to all requests for documentation will be unable to secure a position on the Mortgage Ready List.
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IMPORTANT! PLEASE READ below!
IMPORTANT! PLEASE READ below!
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The Mortgage Ready List will be the ONLY applicant list maintained by HICDC for its NEW Homeownership Program. In order to secure a position on the Mortgage Ready List, you must meet all requirements of the NEW application process.
The Mortgage Ready List will be the ONLY applicant list maintained by HICDC for its NEW Homeownership Program. In order to secure a position on the Mortgage Ready List, you must meet all requirements of the NEW application process.
Please email info.hicdc@gmail.com if you have questions related to compliance with these requirements.
Please email info.hicdc@gmail.com if you have questions related to compliance with these requirements.
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