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Mortgage Booster Program

Statewide, Hawaii

Last verified
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Assistance

$50,000

The maximum the program publishes — not an offer

Income limit

120% AMI

Of area median income; varies by county and household size

Repayment

Repayable

Repaid on the terms set by the administering agency

What is Mortgage Booster Program?

Mortgage Booster Program is a repayable second loan for homebuyers in Statewide, Hawaii.

  • The Mortgage Booster (MB) is a pilot supplemental second-mortgage program from HHOC Mortgage funded in partnership with the Hau'oli Mau Loa Foundation. It is intended as a 'boost' to the amount a borrower can qualify for in today's higher-rate environment. Maximum loan amount $50,000 at a fixed 3% interest rate amortized over 30 years. Paired with a HHOC Mortgage first mortgage (3% minimum down). Open to households up to 120% AMI.
  • Pilot rate-buydown / supplemental second mortgage that 'boosts' the amount a borrower can qualify for in the higher-rate environment. Fixed 3% interest rate (well below market), maximum loan amount $50,000, amortized over 30 years. Paired with a HHOC Mortgage first mortgage (3% minimum down). Designed for households up to 120% AMI. Funded by Hau'oli Mau Loa Foundation partnership.
  • Funding comes from Nonprofit, Foundation, and Private (Hau'oli Mau Loa Foundation partnership).

How much assistance does it provide?

Mortgage Booster Program offers up to $50,000 in assistance.

  • Buyer contribution: Minimum 3% down payment from borrower.
  • 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?

Mortgage Booster Program is a repayable second loan and is repaid under the terms set by the administering agency.

  • Repayment is triggered by Monthly amortizing payments over 30 years and due at sale, payoff, refinance, or non-occupancy.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Mortgage Booster Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • On credit: Per first-mortgage product overlays (HHOC Mortgage typically requires mid-FICO of at least 640-700)
  • A completed homebuyer education course, through Hawaii HomeOwnership Center (HHOC) - approximately 9 hours of homebuyer education (live or online) plus one coaching session required
  • Residency: Property must be located in the State of Hawaii and used as borrower's primary residence; yearly occupancy affidavit required
  • Citizenship or immigration status: U.S. citizen or U.S. permanent resident (per first-mortgage product overlays)
  • First-time homebuyer (no ownership of primary residence in past 3 years). Must complete HHOC homebuyer education (~9 hours) and a coaching session with the Hawaii HomeOwnership Center. HHOC Mortgage must originate a 3%-minimum-down first mortgage. Property must be primary residence; yearly occupancy affidavit required. Pilot program - funds may be limited; HHOC Mortgage Loan Officer must reserve funds before purchase contract.

The program excludes

  • Manufactured homes
  • Households above 120% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Mortgage Booster Program limits household income to 120% of the area median income, which varies by county and household size.

  • Household income up to 120% of HUD Area Median Income (AMI) for the county where the property is located.
  • 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?

Mortgage Booster Program caps the purchase price as follows: No published purchase price cap; subject to first-mortgage product limits.

  • Eligible property types include Single-family detached, condominium, townhouse - principal residence only.
  • New construction is eligible.
  • Manufactured homes are not eligible.

Where does it apply?

Mortgage Booster Program serves buyers purchasing in Statewide, Hawaii.

How do you apply?

Applications for Mortgage Booster Program go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Hawaii HomeOwnership Center (HHOC) - approximately 9 hours of homebuyer education (live or online) plus one coaching session required.

  2. Contact the administering agency to reserve funds

    Funds are reserved through Funds reserved by HHOC Mortgage Loan Officer once borrower enters into a purchase contract. Pilot program with limited funds; borrowers should communicate with HHOC Mortgage Loan Officer before submitting an offer., and are subject to availability.

  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.

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