Hawaii Hula Mae Down Payment Assistance Program Checklist

A step-by-step checklist for consumers applying for the Hawaii Hula Mae Down Payment Assistance Program in 2025.

Confirm Your Eligibility

Verify that your household income falls within the program’s limits, which are based on family size and county.
Ensure your credit score meets the program’s minimum requirement, typically 640 or higher. Your assigned Loan Officer may provide additional criteria specific to your situation.
Confirm the property you intend to purchase is within the program’s price limits and will serve as your primary residence.
Check if you meet any other program requirements, such as being a first-time homebuyer or qualifying for specific loan types.

Collect proof of income, such as recent pay stubs, W-2 forms, or documentation of other income sources.
Gather your tax returns for the past two years, including all schedules and attachments.
Obtain recent bank statements covering the last two to three months for all financial accounts.
Prepare property details, including the address, purchase agreement, and sale price.
Compile additional documents requested by your Loan Officer, such as verification of debts, liabilities, or proof of assets.

Your assigned Loan Officer will guide you through the Hawaii Hula Mae Down Payment Assistance Program application process.
Schedule a meeting or phone call with your Loan Officer to review eligibility criteria, program benefits, and the application process.
Ask questions about program requirements, timelines, or additional documentation that may be needed.
Follow your Loan Officer’s instructions to gather and submit all necessary materials accurately and promptly.

Collaborate with your Loan Officer to accurately complete your application for the Hula Mae Down Payment Assistance Program.
Submit all required documents to verify your eligibility for the program.
Review the completed application with your Loan Officer to ensure it is accurate and free of errors before submission.
If required, attend a homebuyer education course to fulfill the program’s prerequisites.

Sign all necessary documents provided by your Loan Officer to finalize your participation in the program.
Prepare for any costs not covered by the assistance, such as closing fees or prepaid expenses.
Receive confirmation of your enrollment and detailed instructions on how the assistance will be applied to your down payment or closing costs.

Ensure the purchased property remains your primary residence for the duration specified by the program guidelines.
Notify your Loan Officer immediately if you plan to sell, refinance, or make changes to your mortgage, as these actions could affect your program benefits.
Stay updated on program requirements or changes to ensure compliance and retain your assistance benefits.