Hawaii Hula Mae Loan Program Checklist
A step-by-step checklist for consumers applying for the Hawaii Hula Mae Loan Program in 2025.
Confirm Your Eligibility
- Verify that your household income meets the program’s maximum limits, which vary by family size and county.
- Ensure your credit score meets the program’s minimum requirement, typically 640 or higher. Additional guidance may be provided by your assigned Loan Officer.
- Confirm that the property you plan to purchase is within the program’s price limits and will serve as your primary residence.
- Check if you meet other program criteria, such as being a first-time homebuyer or meeting specific residency requirements in Hawaii.
Prepare Necessary Documentation
- Collect proof of income, such as recent pay stubs, W-2 forms, or verification of other earnings.
- Gather your tax returns for the past two years, including all schedules and attachments.
- Obtain recent bank statements for the last two to three months for all financial accounts.
- Prepare property details, such as the address, purchase agreement, and sale price.
- Compile any additional documents requested by your Loan Officer, such as verification of debts, liabilities, or proof of assets.
Work with Your Assigned Loan Officer
- Your assigned Loan Officer will assist you throughout the Hawaii Hula Mae Loan Program application process.
- Schedule a meeting or call with your Loan Officer to confirm eligibility, discuss program details, and outline the necessary steps to complete your application.
- Ask questions about the program’s benefits, timelines, or required documentation.
- Follow your Loan Officer’s guidance to gather and submit all necessary materials promptly and accurately.
Complete Your Application
- Collaborate with your Loan Officer to accurately complete the application for the Hula Mae Loan Program.
- Submit all required documents to verify your eligibility for the program’s low-interest mortgage benefits.
- Review your application with your Loan Officer to ensure all details are accurate and free of errors before submission.
- If required, attend a homebuyer education course to fulfill the program’s requirements.
Finalize Your Enrollment
- Sign all necessary documents provided by your Loan Officer to finalize your participation in the program.
- Prepare for any costs not covered by the program, such as closing fees or prepaid expenses.
- Receive confirmation of your enrollment and detailed instructions on how the program benefits will be applied to your mortgage.
Maintain Compliance with Program Terms
- Ensure that 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 may impact your program benefits.
- Stay updated on program requirements or changes to maintain compliance and retain your program benefits.