HAR §15-321-3. Fees and charges

(a) The corporation shall have the right to charge reasonable, non-refundable fees for processing any instrument or taking any action provided under this chapter. (b) The fees shall be as follows: | Purpose | Amount Charged | | --- | --- | | Application fee | $1,000 | | Loan origination fee | 0.5% to 1% of loan amount | | Loan extension fee | 0.5% to 1% of loan amount | | Loan interest rate (fixed) | 1% to 2% per annum | [Eff NOV 27 2023 ] (Auth: HRS §§201H-4, 201H-206) (Imp: HRS §201H-206) 3521 SUBCHAPTER 2 # AFFORDABLE HOMEOWNERSHIP REVOLVING FUND LOAN PROGRAM # §15-321-11 Project criteria for funding; minimum requirements. Qualified housing projects funded in whole or in part through loans from the fund must meet one of the following criteria in descending order of priority: (1) Affordable for-sale projects or units in projects that are funded by programs of the United States Department of Housing and Urban Development, the United States Department of Agriculture Rural Development, and the United States Department of the Treasury Community Development Financial Institutions Fund, wherein: (A) At least fifty per cent of the available units are reserved for persons and families having incomes at or below eighty per cent of the United States Department of Housing and Urban Development area median family income and of which at least five per cent of the available units are for persons and families having incomes at or below fifty per cent of the United States Department of Housing and Urban Development area median family income; and (B) The remaining units are reserved for persons and families having incomes at or below one hundred twenty per cent of the United States Department of Housing and Urban Development area median family income; or (2) Mixed-income affordable for-sale housing projects or units in a mixed-income affordable for-sale housing project wherein all of the available units are reserved for persons and families having incomes at or below one hundred per cent of the United States Department of Housing and Urban Development area median family income. [Eff NOV 27 2023 ] (Auth: HRS §§201H-4, 201H-206) (Imp: HRS §201H-206) # §15-321-12 Affordable homeownership revolving fund; allowable uses. (a) The fund may be used to provide loans for the development of affordable for-sale projects that meet the minimum criteria for eligibility set forth in section 15-321-11. Additionally, an amount from the fund may be used to pay for administrative expenses incurred by the corporation in administering the fund. 3521 (b) Activities and costs eligible for assistance from the fund shall include, but are not limited to: (1) Planning; (2) Design; (3) Land acquisition, including the costs of options, agreements of sale, and down payments; (5) Equity financing as matching funds to obtain other sources of private or public financing; (6) New construction or rehabilitation of housing units; (7) Acquisition of housing units for the purpose of preservation as affordable housing; and (8) Pre-development costs; provided that loans for pre-development costs are limited to only one loan per project. [Eff NOV 27 2023 ] (Auth: HRS §§201H-4, 201H-206) (Imp: HRS §201H-206)