Loan Guarantees for Native Hawaiian Housing
Program Funding
Annual program obligations reported to SAM.gov.
Funded Projects
Examples of what this program has supported.
Program Objective
To provide access to sources of private financing on Hawaiian home lands.
Eligibility
Eligible Applicants
- Department/Agency of U.S. State
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.
Beneficiaries
- Tribal
Native Hawaiian homeowners are the beneficiaries of the program.
How to Apply
Award Procedure
The financial institution obtains and reviews all documentation. The financial institution is responsible for ensuring the individual applicant’s Native Hawaiian eligibility, land status per Section 204 of the Hawaiian Homes Commission Act, housing acceptability, creditworthiness of the applicant, and approval or disapproval of the applicant. If loan guarantee funds are available, a firm commitment is issued by the lender. Firm commitments are valid for a period not to exceed 90 days from issuance. HUD is responsible for reviewing the lender's loan file after closing and issuance of the loan guarantee.
Decision Timeline
- Approval: From 15 to 30 days
- Appeal: From 15 to 30 days
UD 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.
Program details & compliance
Description
Section 184A permits HUD to guarantee 100% of the unpaid principal and interest due on an eligible loan. The use of the Section 184A Loan Guarantee Program is limited to owner-occupant single family dwellings located on Hawaiian home lands.
Mission Categories
Primary: Homebuying, Homeownership
Other categories:
American Indian or Alaskan Native Housing
Use of Funds
Allowed Uses
A loan guaranteed by this program may be used to construct, acquire, or rehabilitate eligible housing. The housing must be located on Hawaiian home lands.
Required Documentation
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.
This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles.