TOOLS TO PREPARE YOU FOR HOMEOWNERSHIP
BRANDPOINT
Many of today’s homebuyers and renters face affordability challenges. Higher mortgage rates and low housing supply have increased homeownership costs. Corresponding increases in rent have also made it more difficult for potential borrowers to save for a down payment. However, just because affordability is a challenge doesn’t mean that the dream of homeownership is unattainable. In fact, despite consumers’ apprehension about the mortgage process, research shows that the aspiration to own a home is very much alive and there are a number of tools and resources that can help potential borrowers make their dreams of owning a home a reality.
What to do if you’re ready to buy
The difficulty of saving money for a down payment can discourage potential borrowers from pursuing homeownership. However, you may be closer to affording a home than you think. You’ve probably heard that you need a 20 percent down payment to buy a home. While this is a traditional standard, it’s not mandatory to qualify for a home loan. Eligible, creditworthy borrowers can utilize mortgage loan options like Fannie Mae’s HomeReady, enabling applicants to put down as little as 3 percent for home purchases or mortgage refinances. Through February 2025, the program also offers $2,500 towards down payment or closing costs, including mortgage insur-
Just because affordability is a challenge doesn’t mean that the dream of homeownership is unattainable.
ance premiums, for very low-income purchase borrowers (≤ 50 percent applicable area median income) nationwide on the purchase of their principal residence. If you’re a potential borrower who is ready to buy a home now, you may have several options that can help make homeownership more affordable. An online down payment assistance tool can help you find programs that alleviate some of the upfront costs of buying a home. Using this tool, you can find federal, state, and local down payment
and closing cost assistance for which you may be eligible. These resources can help you overcome the initial hurdles to purchasing a home and can make the overall homebuying process more feasible. If you’re a first-time homebuyer, you can talk to your lender about options like HomeReady First, which provides financial assistance to eligible first-time homebuyers residing in specific geographic communities. This mortgage option includes $5,000 in down payment or closing cost assistance, free home-
buyer education, and may include a $500 appraisal credit. What can I do if I’m not ready to buy?
If you’re not ready to buy a home yet but hope to do so someday, there are still steps you can take to help prepare. First, review your credit score and see how it can be improved over time. As a renter, it’s important to maintain a strong rent payment history to show lenders that you’d be a reliable borrower. For potential first-time homebuyers that do maintain a
solid rent payment history, lenders can count those timely payments as part of the mortgage credit evaluation process, which can increase your chances of being eligible for a mortgage loan. In addition, there also are programs that allow your timely rent payments to be factored into your credit score, helping you establish or boost your credit score over time.
Make sure to use a closing costs calculator to educate yourself on closing costs and what fees are negotiable to potentially reduce your upfront costs. Knowing this information early on can help you make a longterm savings goal for your home purchase.
Continue to educate yourself on the homebuying process with an online homeownership education course like Fannie Mae HomeView. This free-of-charge, award-winning course provides 24/7, end-to-end access to information about financial literacy, building healthy credit, and the steps to homeownership and is available in English and Spanish. HomeView helps demystify the buying process and helps firsttime homebuyers understand and navigate the process from start to finish.
Homeownership may be more accessible than you thought possible, whether you’re ready to buy now or waiting until the time is right. By equipping yourself with the right knowledge, tools, and resources, you can navigate the complexities of the housing market with confidence and clarity, and possibly save money as well.
OWNER’S NOTICE OF COMPLETION OF CONTRACT NOTICEISHEREBY GIVENthat,pursuantto theSection507-43ofthe HawaiiRevisedStatutes, theconstructionby(a) GardenIsleFlooring, Inc.doingbusinessas FlooringInnovations& Interiors,and(b)Interstate RestorationHawaii,LLC, doingbusinessasFirst OnsiteandFirstOnsite PropertyRestoration,of certainimprovements, includingimprovementsto theflooringinthatcertain condominiumunit,situated at1831PoipuRd,Apt 720Koloa,HI967569429,bearingtaxmap keyno.(4)2-8-027020-0052hasbeen completed.
Ryan Hanau Owner (TGI1470211 10/4, 10/11/24)
NOTICE OF PUBLICATION AND NOTICE OF PUBLIC HEARING
NoticeisherebygiventhattheKaua‘iCountyCouncilwillholdapublic hearingonWednesday,October23,2024,at8:30a.m.,orsoonthereafter,atthe CouncilChambers,4396RiceStreet,Room201,HistoricCountyBuilding,Lihu‘e, on the following:
Bill No. 2934
ABILLFORANORDINANCEAMENDINGORDINANCENO.B-2024-897, ASAMENDED,RELATINGTOTHECAPITALBUDGETOFTHECOUNTY OFKAUA‘I,STATEOFHAWAI‘I,FORTHEFISCALYEARJULY1,2024 THROUGHJUNE30,2025,BYREVISINGTHEAMOUNTSESTIMATEDINTHE GENERALFUNDCIP (KekahaFayePark,WaimeaAthleticField,and Hanapepe Stadium Park – $1,650,000.00)
ThisBillproposestoappropriate$1,650,000.00inmatchingfundsfrom theIslandwidePlaycourtResurfacingaccountforthepurposeofresurfacingworkat KekahaFayePark,WaimeaAthleticField,andHanapepeStadiumParkasthe CountymatchtotheStateappropriationasamendedbyAct230,SessionLawsof Hawai‘i (SLH) 2024.
Anypersonmaytestifyatthepublichearing,andatanyCouncil andCommitteeMeeting(atwhichtimeanyBillmaybeamended). Meetingnoticesandfull-textBillsareavailableatleastsix(6)daysin advanceattheOfficeoftheCountyClerk,CouncilServicesDivisionand kauai.gov/Government/Council/Webcast-Meetings.Writtentestimonymaybe submittedviacounciltestimony@kauai.gov,mail,orfax.Forfurtherinformation, please call (808) 241-4188.
CERTIFICATE OF THE COUNTY CLERK
IherebycertifythattheKaua‘iCountyCouncilpassedonfirstreadingand orderedtoprintBillNo.2934duringtheSeptember25,2024CouncilMeeting,by the following vote:
AYES: Bulosan, Carvalho, Cowden, DeCosta, Kagawa, Kuali‘i
NOES: None
EXCUSED & NOT VOTING: Rapozo
RECUSED & NOT VOTING: None
Lihu‘e, Hawai‘i /s/ Jade K. Fountain-Tanigawa September 26, 2024 County Clerk, County of Kaua‘i
NOTE:IFYOUNEEDANAUXILIARYAID/SERVICE,OTHERACCOMMODATIONDUETO ADISABILITY,ORANINTERPRETERFORNON-ENGLISHSPEAKINGPERSONS, PLEASECONTACTTHEOFFICEOFTHECOUNTYCLERK,COUNCILSERVICES DIVISIONAT(808)241-4188ORCOKCOUNCIL@KAUAI.GOVASSOONAS POSSIBLE.REQUESTSMADEASEARLYASPOSSIBLEWILLALLOWADEQUATETIME TO FULFILL YOUR REQUEST.
UPONREQUEST,THISNOTICEISAVAILABLEINALTERNATEFORMATSSUCHAS LARGE PRINT, BRAILLE, OR ELECTRONIC COPY. (TGI1469907 10/4/24) Notice of Public Hearing
DEPARTMENT OF LAW ENFORCEMENT
PROPOSED ADOPTION OF CHAPTER 24-1000, HAWAII ADMINISTRATIVE
RULES, ENTITLED "ADDRESS CONFIDENTIALITY PROGRAM"
PursuanttoChapter91,HawaiiRevisedStatutes(HRS),noticeishereby giventhattheDepartmentofLawEnforcement(DLE)willholdapublichearing as follows:
November 4, 2024 at 10:00 A.M. Department of Law Enforcement Administrative Offices 715 So. King Street #505 Honolulu, Hawaii 96813
Background: Thepurposeoftheproposedrulesaretoprovidestandardsand proceduresforparticipationintheAddressConfidentialityProgramsetforthin chapter801G,HRS.Theprogramassistssurvivorsofdomesticabuse,asexual assault,orstalkingtokeeptheirresidential,employment,orschooladdress confidential in state and county agency records.
Allinterestedpersonsareinvitedtoattendthepublichearingtostatetheir views,orallyand/orinwritingontheproposedrulesforadoption.Allcomments receivedwillbereviewedbytheDLE,andsubsequentamendmentsmaybe considered, if appropriate.
Writtencommentsmaybepostalmailedto:AddressConfidentialityProgram, DepartmentofLawEnforcement,715So.KingStreet,#505,Honolulu,Hawaii 96813,orbyelectronicmailto law.addressconfidentiality@hawaii.gov.Written commentsshouldincludetheauthor’snameandagencyororganizationthatthe authorrepresents,ifany.Writtencommentswillbeacceptedatanytimeuntil the close of the hearing.
RemoteAccesstoHearing: Thepublicmayprovideoraltestimonyinpersonat thehearingorremotelyviaMicrosoftTeamsusingthefollowinglink: www.microsoft.com/en-us/microsoft-teams/join-a-meeting.Whenprompted, entertheMeetingID:242358650040andthePassword:tG4edF.Ifappearing remotely,DLErequeststhatmeetingparticipantschangethedisplayontheir device to show their first and last name.
PublicViewing: AcopyoftheproposedChapter24-1000,HAR,areavailable forpublicviewingontheDLEwebsiteatwww.law.hawaii.gov.Theproposed rulesmayalsobereviewedinpersonattheDLEadministrativeofficesat715 So.KingSt.#505.Pleaseemail law.addressconfidentiality@hawaii.gov orcall (808) 587-5054 to arrange your visit.
Anelectroniccopyoftheproposedruleswillbeemailedatnochargeupon requestto law.addressconfidentiality@hawaii.gov .Apapercopyoftherules canalsobepostalmailedwithacostoftencentsperpage,plusmailing costs.Requestsmaybemadeinwritingviaelectronicmailat law.addressconfidentiality@hawaii.gov orpostalmailedtotheDLE administrative offices at 715 So. King Street #505. Ifanauxiliaryaid/serviceorotheraccommodationduetoadisabilityis needed,pleaseemailyourrequesttolaw.addressconfidentiality@hawaii.govor call
9/13, 9/20, 9/27, 10/4/24)
