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7. Q. ARE SINGLE FAMILY DWELLING ON DEPARTMENT OF HAWAIIAN HOME <br />LANDS ELIGIBLE FOR A LOAN? <br />A. No. Single family dwellings on Department of Hawai'i Home Lands (DHHL) are not <br />eligible. <br />8. Q. WHAT MUST A HOMEOWNER REPAIR AND CORRECT UNDER THE LOAN <br />PROGRAM? <br />A. To insure that the property is safe and sanitary, all deficiencies cited by the County’s <br />RRP inspector must be repaired and corrected. <br />9. Q. HOW MUCH MONEY CAN A HOMEOWNER BORROW? <br />A. The minimum LOAN is $2,500 the maximum LOAN is $25,000 for each dwelling unit <br />for owner occupied properties. <br />10. Q. CAN I APPLY FOR MORE THAN ONE LOAN? <br />A. No. Only one LOAN per household. <br />11. Q. WHAT KIND OF INTEREST RATE WILL BE BORROWER BE PAYING? <br />A. The interest rate is set at 3%. The LOAN is deferred for 15 years or until first transfer <br />of title. If the homeowner applies for a mortgage loan or a home equity loan, the <br />LOAN amount must be repaid in full. <br />12. Q. WHAT ARE SOME OF THE SERVICES AVAILABLE TO HOMEOWNERS? <br />A. The County’s RRP inspector will inspect your property. The County will prepare a <br />Priority List of Repairs which will outline the deficiencies cited that must be corrected. <br />13. Q. HOW IS THE LOAN SECURED? <br />A. LOANS will be secured with a Mortgage and Note on the property. <br />14. Q. WHERE CAN A HOMEOWNER OBTAIN MORE INFORMATION? <br />A. The County of Hawai'i Office of Housing and Community Development, 1990 Kino’ole <br /> Street, Suite 105 Hilo. The phone number is 959-4642. <br />** The term of the LOAN may be extended at the end of 15 years if the borrower <br />remains qualified for such a LOAN. <br />**LOANS are subject to availability of funds. <br /> <br /> <br />