Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Counseling Financing topic
No spam. Unsubscribe anytime.
DHHL partners with Hawaii Community Assets to provide counseling and financing pathways for awardees
Summary
Hawaii Community Assets staff said they will complete HUD-certified financial assessments and offer counseling, while DHHL described product pathways—turnkey, owner-builder, self-help and a 15-year rent-with-option-to-purchase program—to match households to options they can afford.
Chantel, representing Hawaii Community Assets, told the audience HCA is a HUD-approved nonprofit housing counseling agency that will deliver one-on-one financial assessments, coaching and homeownership education for project-lease awardees. She said counselors will review household income, debt-to-income ratio and personal housing goals to tailor plans for each family.
Kalani Frondo described several product pathways DHHL will use to match households to what they can afford: turnkey developer-built houses for those who can obtain a mortgage; owner-builder and self-help options (including Habitat for Humanity partnerships); and a rent-with-option-to-purchase approach where participants may rent under affordable terms for up to 15 years and then have the option to buy at a reduced price.
"We're gonna figure out how to build for what you can afford," Frondo said, adding DHHL will work with partners such as Hawaii Community Lending and Hawaii Community Assets to help beneficiaries navigate financing and construction choices. Counselors and service-provider tables were available after the presentation for one-on-one follow-up.
