This is HOME
Hawaii’s first time home buyer program that lets you live where you love.
This is HOME: What is it?
While many programs assist those earning less than 80% AMI, This is HOME1 was created to help a wider range of buyers who earn between 80% - 140% Area Median Income (AMI) achieve their dream of homeownership in Hawaii.
This is HOME Features
Down payment as low as 3%
Discounted interest rate that'll save you hundreds of dollars each month
Lower mortgage insurance requirement
Reduced closing costs with no added fees or pricing adjustments
Eligible borrowers' annual qualifying income can be up to $169,950 for a family of four
To help you qualify for the This is HOME program, ASB collaborated with Hawaii HomeOwnership Center and Hawaiian Community Assets to offer free financial education courses (up to a $60 value).
Hawaii HomeOwnership Center Courses >
Hawaiian Community Assets Courses >
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This is HOME is an affordable financing solution for first time home buyers looking to own a home in Hawaii, so you can stay in Hawaii.
American Savings Bank is committed to doing its part to keep Hawaii home. Together, we can build a better Hawaii, one family at a time.
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- The “This is HOME” program is applicable for home purchase transactions financed through American Savings Bank (ASB) residential mortgage programs. Program is not applicable for brokered out or Veterans Affairs loans. Offer good only with a completed loan application submitted to ASB and for a loan closed and funded by ASB by 12/31/2024. Offer is subject to automatic monthly mortgage payments from a new or existing ASB personal checking account. The ASB checking account number with the intent to establish automatic monthly mortgage payments must be provided prior to final approval of the loan by ASB. The establishment of automatic payments must be signed at mortgage closing. If the borrower opts out of automatic payments or the ASB checking account is not established at loan closing, this program will not apply. See the Personal Deposit Account Terms and Conditions for other terms, conditions and fees for Kalo Checking accounts. This program cannot be combined with any other promotional discounts, long-term rate lock specials, or new project financing rates unless otherwise specified. This offer is subject to change or discontinuation without notice. Offer good for one unit or one unit and Additional Dwelling Unit single-family dwellings and condominiums. The financed residential property must be owner-occupied. For the purpose of this promotion, an individual is a first time home buyer if he or she (1) is purchasing the security property; (2) will reside in the security property as a principal residence; and (3) had no ownership interest (sole or joint) in a residential property during the three-years preceding the date of the purchase of the security property. In addition, an individual who is a displaced homemaker or single parent also will be a first time home buyer if he or she had no ownership interest in a principal residence (other than a joint ownership interest with a spouse) during the preceding three-years (source: Fannie Mae).
Applicant income limited to 140% Area Median Income (up to $169,950 for 4-person household as of 7/18/2023) (source: Department of Business, Economic Development & Tourism: https://dbedt.hawaii.gov/hcda/annual-ami-stats/).
Applicant(s) is/are subject to loan qualification, underwriting guidelines, and credit policy of ASB. Offer valid for Hawaii properties only. Certain terms and restrictions apply. For more information, please contact an ASB Residential Loan Officer.
- We use the HCDA AMI guidelines found here: https://dbedt.hawaii.gov/hcda/annual-ami-stats/