Department of Hawaiian Home Lands

At its Aug. 19, 2013 meeting, the Hawaiian Homes Commission approved creation of a “Streamline Refinance Loan” product for lessees with Hawaiian Home General Loan Fund (HHGLF) direct loans in good standing product for delinquent loans (either in the HHGLF or to be refinanced with monies in the HHGLF) who meet specific criteria.

The purpose of the DHHL Streamline Refinance Loan is to provide qualified lessees/borrowers with loan products to lower their monthly payment through a refinance of their loan via an interest rate reduction and/or extension of the term of the loan similar to those loan programs outside of DHHL. However, the DHHL products will require minimal loan documentation and no loan fee(s) will be assessed to the lessee.

DHHL is now offering our Streamline Refinance Loan, subject to the following criteria:

1. 1. Streamline Refinance Loan will apply to DHHL direct loans only.
   2. Eligible lessee(s) will qualify for the HHGLF rate which is currently set at 4.0%
   3. Lessee(s) must have made their full contractual payment on their existing DHHL loan in the month due for the last 12 months.
   4. No credit qualification required but a credit report will be obtained for informational purposes only, at the DHHL’s expense.
   5. Income verification not required.
   6. Loan application is required from all borrower(s) on existing DHHL loan
   7. All borrower(s) will be required to sign new loan documents.
   8. Appraisal is not required.
   9. No cash out is allowed.
   10. Loan can be re-amortized up to a maximum of 30 years.
   11. Proof of homeowners insurance is required.
   12. Lessee(s) must be current with real property taxes, association dues, county sewer/refuse fees, where applicable.
   13. Lessee(s) must be current with DHHL water services, if applicable.
   14. Lessee(s) can not have an outstanding advance(s) with the DHHL.
   15. DHHL advances are not eligible for the Streamline Refinance Loan.
   16. Loan amount cannot exceed 50% of the FHA county maximum.

• For more information, see our Frequently Asked Questions, below.

To request an application packet for either the Streamline Refinance Loan:

• Should contact the department’s Loan Services Branch at (808) 730-0293.

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Frequently Asked Questions for the
DHHL Streamline Refinance Loan

Q: How do I apply for the DHHL Streamline Refinance Loan?

A: Lessees can contact the department’s Loan Services Branch at (808) 730-0293 for an application packet and neighbor island lessees can contact their district office.

Q: Who do I contact if I have questions regarding the DHHL Streamline Refinance Loan?

A: You should contact the loan officer assigned to your area.  If you don’t know who your assigned loan officer is, please call (808) 730-0293 with your homestead area.

Q: If I’m currently delinquent with my department loan, would I qualify for the DHHL Streamline Refinance Loan?

A: Yes, providing you have made your last 12 contractual payments within the month due and meet all other program criteria.

Q: What is the department’s current interest rate?

A: 4.0%

Q: What is the maximum loan term allowed?

A: Department loans can be amortized up to 30 years and you should consult with your assigned loan officer.

Q: How long will this process take?

A: Upon the department receiving a completed loan application packet, it will take approximately 60 to 90 days to process your request.

Q: Will my loan require approval from the Hawaiian Homes Commission?

A: Yes, all loans must be approved by the Hawaiian Homes Commission, which meets monthly.   

Q: Do I have to credit or income qualify for the DHHL Streamline Refinance Loan?

A: No, there is no credit or income qualification requirement for the DHHL Loan Refinancing Product.

Q: Why do I have to complete a new loan application if there is no credit or income qualification?

A: Although there is no credit or income qualification for this program, the department requires updated information on all borrowers.  Many borrowers may have changed employers, phone numbers, number of dependents, etc., since completing their last application on file.

Q: Is an appraisal necessary?

A: No appraisal is required.

Q: Can I take cash out?

A: No, this program does not have a “cash out” feature.  Should you need a “cash out” refinance loan, you can contact any authorized HUD 184A or FHA 247 lender.

Q: Are there any fees associated with the DHHL Streamline Refinance Loan?

A: No, there are no fees.

Q: Who needs to complete a loan application packet?

A: All borrowers and/or guarantors obligated to the outstanding department loan need to complete a loan application packet.

Q: Why do I have to sign a Credit Authorization form?

A: A credit report will be obtained for informational purposes only.