What is the maximum loan period for a Hula Mae Loan?

What is the maximum loan period for a Hula Mae Loan?

• A. 15 years
• B. 20 years
• C. 25 years
• D. 30 years

Answer: (D)

The maximum loan period for a Hula Mae Loan is 30 years. Hula Mae Loans are part of the Hawaii Housing Finance & Development Corporation's programs designed to assist first-time homebuyers and low-to-moderate-income families in Hawaii. By allowing a loan period of up to 30 years, the program provides greater affordability for borrowers, as it results in lower monthly payments compared to shorter loan terms. This extended period gives buyers the flexibility to manage their finances more effectively while investing in homeownership, which can be particularly beneficial in Hawaii’s expensive real estate market.

The maximum loan period for a Hula Mae Loan is 30 years. Hula Mae Loans are part of the Hawaii Housing Finance & Development Corporation's programs designed to assist first-time homebuyers and low-to-moderate-income families in Hawaii. By allowing a loan period of up to 30 years, the program provides greater affordability for borrowers, as it results in lower monthly payments compared to shorter loan terms. This extended period gives buyers the flexibility to manage their finances more effectively while investing in homeownership, which can be particularly beneficial in Hawaii’s expensive real estate market.