SB2062 establishes a permanent dwelling unit revolving fund equity program in Hawaii to increase homeownership opportunities.

SB2062 codifies the dwelling unit revolving fund equity pilot program as a permanent program in Hawaii. The Hawaii Housing Finance and Development Corporation will use the fund to purchase equity in for-sale housing projects, reducing prices for qualified residents. The program aims to address high demand for affordable housing, especially for those in critical shortage professions. Eligible buyers must be qualified residents, and they must repay the corporation's equity upon certain events like selling the unit or refinancing.

SB2062 establishes a permanent dwelling unit revolving fund equity program in Hawaii to increase homeownership opportunities.

SB2062 codifies the dwelling unit revolving fund equity pilot program as a permanent program in Hawaii. The Hawaii Housing Finance and Development Corporation will use the fund to purchase equity in for-sale housing projects, reducing prices for qualified residents. The program aims to address high demand for affordable housing, especially for those in critical shortage professions. Eligible buyers must be qualified residents, and they must repay the corporation's equity upon certain events like selling the unit or refinancing.