Maui First Time Home Buyer Grant Program Stops Accepting Applications
The county has decided to suspend the acceptance of further applications for its new First-Time Home Buyers Grant Program. The decision was made after receiving an overwhelming response of 320 applications in the first week of announcing the grant program.
The program, which began on November 1, was developed to help qualified first time homebuyers with down payement and or closing cost assistance in the purchase of their homes. A total of $180,000 from the County’s General Fund was allocated for the program.
Evergreen Home Loans, the company contracted to administer the program, is stillundergoing qulificaiton review of the applications recieved within the first seven days of the program announcement.
County officials say that due to the large number of applicants and the availability grants, the program will not be able to accept any further applications at this time.
“The immense response we received illustrates the need for this kind of grant assistance,” said Mayor Charmaine Tavares. “In light of today’s economic conditions it’s important to do what we can to help new home buyers.”
“I’m excited by the tremendous response. It justifies the need and interest for the program and I look forward to working with the Administration and the public to continue the program,” said Council Vice-Chair Michael Molina, who in 2005 proposed to create the program.
(Posted by Wendy Osher)