First-Time Home Buyer's Down Payment Assistance Program

What is First-Time Home Buyer's Down Payment Assistance Program?

First-Time Home Buyer's Down Payment Assistance Program is a grant for homebuyers in Maui County, Hawaii.

• The Maui County First-Time Home Buyer's Down Payment Assistance Program provides a grant of up to $30,000 or 5% of the purchase price (whichever is less) to first-time homebuyers purchasing in Maui County. Administered by the County of Maui Department of Housing. Applications are selected by random lottery due to limited funding. Eligible applicants must have income up to 140% AMI, liquid assets under $75,000, and must be Maui County residents.
• Grant of up to $30,000 or 5% of the purchase price (whichever is less) for first-time homebuyers in Maui County. Repayment required only if the property is sold or refinanced (recapture) - effectively a forgivable grant for borrowers who hold and occupy. Funds may be used toward down payment and closing costs. Awarded via random lottery selection among eligible applicants due to limited funding.
• Funding comes from Local, County, and Maui Affordable Housing Fund.

How much assistance does it provide?

First-Time Home Buyer's Down Payment Assistance Program offers up to $30,000 in assistance.

• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

First-Time Home Buyer's Down Payment Assistance Program is structured as a grant, so it is not repaid.

• Repayment is triggered by Repayment required only if the property is sold or refinanced (recapture grant) and otherwise no repayment if borrower continues to occupy as primary residence.
• The assistance is recorded in Grant (no lien) / Recapture lien if sold/refinanced position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

First-Time Home Buyer's Down Payment Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

First-Time Home Buyer's Down Payment Assistance Program limits household income to 140% of the area median income, which varies by county and household size.

• Income up to 140% of Maui County AMI by household size. Seed range $69,850-$131,700 reflects 80% AMI low end through 140% AMI upper bound across household sizes.
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

First-Time Home Buyer's Down Payment Assistance Program caps the purchase price as follows: Per first-mortgage product overlays; no published Maui County purchase price cap (subject to FHA/VA/USDA/Conventional limits).

• Eligible property types include Single-family detached, condominium, townhouse - primary residence in Maui County.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

First-Time Home Buyer's Down Payment Assistance Program serves buyers purchasing in Maui County, Hawaii.

How do you apply?

Applications for First-Time Home Buyer's Down Payment Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Maui County-approved homebuyer education course (e.g., Hawaii HomeOwnership Center).

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Random lottery selection among eligible applicants. First names called complete a formal application; remaining names are placed on a waitlist. Applications submitted during open application periods., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.