By Staff Reports
(Honolulu) — The City’s Department of Community Services announces that funds are still available for qualified residents who apply for zero interest loans administered by the City and County of Honolulu Rehabilitation Loan Branch.
Low and moderate income homeowners who need to repair their homes but cannot afford the high cost of home improvement may qualify for the City’s Rehabilitation Loan program. Besides repairs to the home, loans may be made for accessibility improvements, solar water heating, and photovoltaic systems.
The City is also offering zero interest down payment loans of up to $40,000 to help qualified residents to purchase a home. For both loans, restrictions and qualifying requirements apply. For example, the property must be located on Oahu and be a legally permitted structure meeting all building codes.
Monthly payments will be based on a 20-year amortization term, and the borrower must be an owner-occupant at all times. For more information visit the City’s website at www.honolulu.gov and click on the link to the Department of Community Services’ housing loan programs.
Loans are available until funds run out. To apply for a loan or to speak to a consultant, contact the Department of Community Services, Rehabilitation Loan Branch, at 768-7076, or 768-3240.