Finally, there is good news about housing on Maui. The County of Maui is now accepting applications for its First-Time Home Buyers Down Payment Assistance Program lottery. The affordable housing program was established to assist first-time home buyers with down payment and/or closing cost assistance, and is available to buyers with low- to above-moderate incomes.
Applicants will be selected through a lottery drawing process; the county’s Housing Division will administer the program. Sixty-six applications will be drawn during the lottery. The first applicants drawn will be notified that they must complete and sign formal applications to submit with signed tax returns for the last three years, which must be returned within 10 calendar days of the date of notification.
Applicants will also be asked to complete a short survey to help the county collect data about housing needs. All remaining applicants will be alternates, prioritized in the order that their names were drawn, should any of the first 66 applicants fail to meet their obligations or grant qualification criteria, or should additional funds be available.
To qualify for a grant, the applicant must be a resident of the County of Maui at the time the application is submitted, be a United States citizen or resident alien, and be at least 18 years of age. Applicants also must agree that the eligible property to be purchased will be the principal residence. Among other requirements: proof that the applicant does not have a 50 percent or greater interest in a property suited for dwelling purposes.
A credit pre-approval (not pre-qualification) letter from a mortgage lender that is authorized to do business in Hawai‘i must be turned in with the completed application. The credit pre-approval letter must be for the applicants listed on the application. No application will be accepted without the pre-approval letter.
The lottery drawing is scheduled for 9am on Saturday, September 7 at the Cameron Center auditorium located at 95 Mahalani St. in Wailuku.
A complete list of provisions and eligibility criteria can be found on the application, which is available online at Mauicounty.gov/fthbapp. Those unable to access an online application may call 270-7351, or go into the Housing Division office at 2065 Main St. Ste. 108, Wailuku, to request further assistance. The completed application and credit pre-approval letter must be received by 4:30pm on Friday, August 30.