Maui County began accepting applications December 3 for its First-Time Home Buyer’s Down Payment Assistant Program, designed for low- to above-moderate income, first-time homebuyers to get down payment and closing cost help. The program, administered by the county’s Housing Division, will provide grants up to $30,000 to eligible applicants with qualifying properties.
The maximum financial help for any one borrower will not exceed five percent of the purchase price or appraisal value of the property, whichever is less. The actual amount of funding will be determined by demonstrated need on a case-by-case basis.
Completed applications, along with a credit pre-approval letter from a mortgage lender authorized to do business in Hawai‘i, must be received at the Housing Division administration office by 4:30pm. Friday, Jan. 4, 2019, whether submitted via mail or hand-delivered.
Applicants will be selected through a lottery drawing process at 5:30pm. Thursday, Jan. 17, at the Cameron Center auditorium. The first 66 applicants drawn will be notified via writing; and they will have 10 calendar days from the date of the letter to meet various requirements, including submitting signed tax returns for the last three years and completion of a short county survey on housing needs. If any of the first 66 fail to meet obligations or grant qualification criteria – or should additional funds be available – the remaining alternate applicants will be prioritized in the order of which their cards were drawn,
Applicant eligibility criteria, basic provisions, and other information, may be found at the county’s Housing Division administration office. For more information, potential applicants may contact Housing Program Specialist Jessica Crouse directly at 808-270-1741.