KALAPAKI BEACH — A free seminar for first-time home-buyers is this Tuesday, Aug. 15, at 6 p.m. at the Kaua’i Marriott Resort & Beach Club here.
Sponsored by Bank of Hawai’i, Title Guaranty Escrow Services and Kaua’i Realty, Inc., the seminar is being held for Kaua’i citizens at a time when Hula Mae funds are available for real estate purchases throughout the state.
The state recently released $133 million through nine lenders across the state, and the funds are available for one year, or when all existing funds are allocated, whichever happens first.
Loan processing statewide has been brisk, with a simple interest rate lower than conventional loans.
The purchase price limit for a single-family residence is $236,050 for existing homes, and $239,860 for new construction.
To qualify for the loan, the borrower cannot exceed certain income limits, depending on family size.
The seminar will take participants through the entire home-buying process, including loan program and application, locating qualified properties, drafting and negotiating a sales contract, what is involved in the escrow process, and much more.
Space is limited, and reservations can be made through the Kaua’i Realty Lihu’e office, 245-1651.