By Wendy Osher
The Hawaii Family Finance Project launched a statewide initiative to match savings funds of families to improve credit scores and help them to achieve homeownership.
The project is funded in part by the U.S. Treasury department and First Hawaiian Bank. Under the program, eligible families get $4 in matching grants for every $1 saved, for a maximum of $8,000 towards a home purchase.
The project also offers a 1 to 1 matching grant on funds saved, allowing customers to pay down consumer debt and improve credit scores up to $2,000.
“Individual Development Accounts, or IDA’s as they are referred to, are matching grants that help families reach important goals they are saving for,” said Lilia Kapuniai, HFFP Project Officer.
Three of Hawaii’s most active HUD certified housing counseling agencies are delivering services under the project including: the Hawaii HomeOwnership Center, Hawaiian Community Assets, and the Council for Native Hawaiian Advancement.
To receive free services in homebuyer training, technical assistance, and to apply for HIDA, interested parties can contact one of the project partners:
- Hawaii HomeOwnership Center: (808) 523-9500 or firstname.lastname@example.org
- Hawaiian Community Assets: (808) 587-7886 or email@example.com
- Council for Native Hawaiian Advancement: (808) 596-8155 or firstname.lastname@example.org
The programs are available to Hawaii families, rural or urban, Oahu or neighbor islands, native or non-native, fee simple or trust land properties.
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