ASB's DHHL Loan Program
For purchasing and refinancing property on Hawaiian Home Trust Land
Section 184A Native Hawaiian Housing Loan Guarantee Program
- Offers a low down payment (1.25% - 2.25%), no mortgage insurance (MI), and flexible underwriting
- Loan guaranteed by U.S. Department of Housing and Urban Development
- Up to 97.75% Loan to Value (LTV) on purchase
- Cash out not available
- 1% financeable loan guarantee fee in place of MI
- More favorable of the two loan programs but a bit more stringent to qualify
Section 247 Loan Program
- Offers a low down payment (3.5%) and a one-time upfront mortgage insurance premium
- Loan guaranteed by the Federal Housing Administration
- Up to 96.5% LTV on purchase
- Up to 85% LTV cashout
- One time upfront MI premium 2.344% - 3.8% based on term and if the MI is financed
Qualification Criteria
- Must be at least 18 years of age
- Must be a native Hawaiian, defined as “any descendant of not less than one-half part of the blood of the races inhabiting the Hawaiian Islands previous to 1778.” Essentially one must possess blood quantum of at least 50 percent Hawaiian.
Source: Hawaiian Homes Commission Act of 1920
Department of Hawaiian Home Land Loan Officer Team
Lisa Carillo
VICE PRESIDENT
EXECUTIVE RESIDENTIAL LOAN OFFICER
NMLS #685883
Direct: (808) 872-4991
Mobile: (808) 463-2296
lcarillo@asbhawaii.com
Alan Magno
VICE PRESIDENT
EXECUTIVE RESIDENTIAL LOAN OFFICER
NMLS #477326
Direct: (808) 593-4821
Mobile: (808) 425-2974
amagno@asbhawaii.com
Kristen Pacpaco
VICE PRESIDENT
SENIOR RESIDENTIAL LOAN OFFICER
NMLS #477475
Mobile: (808) 291-8577
kpacpaco@asbhawaii.com
Paul Santos
VICE PRESIDENT
EXECUTIVE RESIDENTIAL LOAN OFFICER
NMLS #477347
Direct: (808) 539-7124
Mobile: (808) 927-9548
psantos@asbhawaii.com