Loan Guarantees for Native Hawaiian Housing
To provide eligible Native Hawaiian families with greater access to private mortgage resources by guaranteeing loans for one-to four family housing located on Hawaiian Home Lands.
General information about this opportunity
Last Known Status
Office of Public and Indian Housing, Department of Housing and Urban Development
Type(s) of Assistance Offered
F - Guaranteed/Insured Loans
Fiscal Year 2016
The program projects to guarantee 55 loans. The program guaranteed 64 loans.Fiscal Year 2017
The program projects to guarantee 64 loans.Fiscal Year 2018
The program projects to guarantee 55 loans.Fiscal Year 2019
The program projects to guarantee 55 loans.
American Homeownership and Economic Opportunity Act of 2000, Consolidated Appropriations Act of 2017, Section 514, Public Law 113-235
Who is eligible to apply/benefit from this assistance?
A Native Hawaiian family; the Department of Hawaiian Home Lands; the Office of Hawaiian Affairs; a private nonprofit organization experienced in the planning and development of affordable housing for Native Hawaiians.
Native Hawaiian homeowners are the beneficiaries of the program.
Individual Loan Applicants must meet the definitions of Native Hawaiian and provide the eligible lender with documentation of that eligibility, assets, income, debts and liabilities to show ability to obtain and repay the loan.
What is the process for applying and being award this assistance?
Preapplication coordination is not applicable.
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Applications are submitted to eligible financial institutions. With the loan application, the homebuyer submits documentation such as pay stubs, W-2 forms, tax returns, evidence of assets such as bank accounts, and any other documentation requested by the lender to support the applicant's ability to obtain and repay the mortgage. The lender will verify the eligibility of the land status.
The financial institution obtains and reviews all documentation and submits it to HUD. HUD is responsible for ensuring the individual applicants Native Hawaiian eligibility, land status per Section 204 of the Hawaiian Homes Commission Act, housing acceptability, and the creditworthiness of the applicant. HUD has responsibility for the approval or disapproval of the applicant and the issuance of the loan guarantee. If the loan guarantee funds are available, a firm commitment is issued to the lender. Firm commitments are valid for a period not to exceed 90 days from issuance.
Approval/Disapproval Decision Time
From 15 to 30 days. HUD may approve a loan for guarantee under this part and issue a certificate under this section only if HUD determines that there is a reasonable prospect of repayment of the loan.
From 15 to 30 days. Applicants whose loans are disapproved may appeal the disapproval. Additional documentation to resolve the issues which led to the disapproval may be required.
How are proposals selected?
How may assistance be used?
A loan guaranteed under this part may only be used to construct, acquire, or rehabilitate eligible housing. The housing must be located on Hawaiian Home Lands for which a housing plan has been determined by HUD to be in compliance with regulations.
What are the requirements after being awarded this opportunity?
Participating lenders will be subject to review and closed loan files are subject to review to assure compliance with the requirements of Section 184A.
Copies of loan files will be maintained by HUD. The originating lender must maintain copies of the guaranteed loan file for two years after loan closing. The servicing lender must maintain the loan file for the life of the loan plus three years.
Other Assistance Considerations
Formula and Matching Requirements
Statutory formula is not applicable to this assistance listing.
Matching requirements are not applicable to this assistance listing.
MOE requirements are not applicable to this assistance listing.
Length and Time Phasing of Assistance
The loan term shall not exceed thirty years. Processing time of the individual loans will depend on the quality of the lenders submittal and HUD's ability to ascertain proper land and lease status. This is a loan guarantee program. Therefore assistance is given in the form of a guarantee. No funds are awarded or released unless there is a default on a guaranteed loan.
Who do I contact about this opportunity?
Regional or Local Office
Thomas C. Wright,
451 7th Street, S.W., Room 5156
Washington, DC 20410 US
(Guaranteed/Insured Loans) FY 17$360,432.00; FY 18 est $556,262.00; FY 19 est $650,000.00; FY 16$82,000.00; -
Range and Average of Financial Assistance
The average loan amount in FY 2017 was $227,882.
Regulations, Guidelines and Literature
24 CFR Part 1007.
Examples of Funded Projects