HSTA Welcome Home Program
As low as 3% down payment with mortgage insurance
Lower upfront barriers can get you into a home sooner
Reduced origination fees, closing costs, and monthly payments
Fewer costs mean more money in your pocket
Closing cost credit up to 1% of the home loan amount
A special benefit for Hawaii State Teachers Association (HSTA) members
HawaiiUSA Federal Credit Union's special home loan for teachers makes the grade with lower rates.
We love helping Hawaii's teachers find a home financing option that's right for them
- Unique mortgage program offers favorable pricing and guidelines for teacher/educator members of the HSTA
- Helps HSTA members buying a home in the highly competitive, highly expensive Hawaii housing market
- Flexible qualifying ratios and income limits can put homeownership within your reach
- Available to owner-occupants
- First-time homebuyer options available
- Requires minimum cash reserves to cover two months of PITI (Principal, Interest, Taxes, and Insurance)
Frequently asked questions
First-time buyers in Hawaii have several mortgage options. Here are a few to consider:
- Conventional Loan: A conventional loan can be a good option if you have a strong credit history and can afford a higher down payment. It offers various terms and may have more flexible guidelines for condos or higher-priced properties.
- First-Time Homebuyer Programs: HawaiiUSA has a specific program for first-time buyers, offering low down payment, favorable rates, reduced closing costs, and other benefits. Certain eligibility requirements apply.
How do I take advantage of the First Time HomeBuyer discount?
- Present a certificate of completion for an approved homeownership education training course.
- Set up direct deposit with HawaiiUSA
- Set up automatic mortgage payments with HawaiiUSA
When you apply for a mortgage loan, a Mortgage Credit Certificate (MCC) reduces the amount of federal income tax that you need to pay, giving you more available income to qualify and potentially reduce your monthly loan payments.
This special mortgage makes the grade
* Minimum borrower's contribution is 3% with required mortgage insurance. Applicant must be an owner occupant of the property and US citizen or permanent resident. The HSTA Mortgage Program is available to active members of HSTA only. Applicants must present their most recent paystub reflecting payment of membership dues to verify membership. This offer cannot be combined with any other offers and is subject to HawaiiUSA’s loan terms and conditions. HawaiiUSA membership guidelines also apply.
All advertised rates are based on a 30-day lock for owner-occupant First Mortgage loans with a 20% down payment. Payment does not include property taxes or insurance. Your actual rate and points may differ based on various factors such as when your rate is locked, occupancy status, loan purpose, loan amount, credit score and loan-to-value ratio. Rates and terms are subject to change or cancellation without notice. 30-year and 15-year terms available.
(Payment examples: A 30-year First Mortgage for $100,000 at 6.125% interest rate at 2.000 points, with a 3% down payment, has a monthly payment of $607.61 and an Annual Percentage Rate (APR) of 6.626%. A 30-year First Mortgage for $100,000 at 6.125% interest rate at 1.750 points, with a 20% down payment, has a monthly payment of $607.61 and an Annual Percentage Rate (APR) of 6.414%)
