Mortgage Loans

Hawaii National Bank is a member of the Federal Home Loan Bank of Seattle's Home$tartPLUS Savings Program. First-time home buyers who enroll in the program through Hawaii National Bank could receive a grant up to $10,000 to be used only for down payment or closing costs in the purchase of a home. This grant is not a loan to be repaid, but an outright grant. Participants must maintain a savings account and meet program guidelines as described below.

Hawaii National Bank is a member of the Federal Home Loan Bank of Seattle's Home$tart Savings Program. First-time home buyers who enroll in the program through Hawaii National Bank could receive a grant up to $5,000 to be used only for down payment or closing costs in the purchase of a home. This grant is not a loan to be repaid, but an outright grant. Participants must maintain a savings account and meet program guidelines as described below.

• Eligible first-time home buyers may borrow funds for the down payment toward the purchase of a home
• Applicants must meet all program criteria (including financial need) to be eligible
• Administered by the State of Hawaii Housing Community Development Corporation of Hawaii (HCDCH)

• Long-term loans secured by a mortgage on commercial property (retail, warehouse, office building) and apartment buildings of over four units

• For the construction of residential dwellings, commercial/industrial buildings, and/or condominium projects/subdivision developments

• Mortgage loans that exceed conforming FHLMC and FNMA loan limits of $625,500
• May be sold on the secondary market

• Home loan program for eligible members and pensioners of qualified statewide Government Employees' Retirement Systems
• Administered and serviced through approved participating lenders

Alternatives to fixed rate first mortgage loans.

• 1-year ARM (adjusted annually)
• 3/1 ARM (fixed for the first three years and adjusted annually thereafter)
• 3-year ARM (adjusted every three years)

• Conventional fixed rate long-term loans to purchase a home or refinance an existing mortgage. Secondary market sources include Federal Home Loan Mortgage Corporation (FHLMC) and Federal National Mortgage Association (FNMA)