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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 maybe extended at the end of 15years if the borrower <br /> remains qualified for such a LOAN. <br /> **LOANS are subject to availability of funds. <br />