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Na Hale O Maui receives donation to support Homebuyer’s Assistance Program

By Staff | Feb 18, 2016

Loan Officer Lisa Carillo with HomeStreet Bank presents a check for $5,000 to Na Hale O Maui Executive Director John Andersen to support the Homebuyers’ Assistance Program. The community land trust currently has 32 families in land trust homes with renewable leases that will remain affordable in perpetuity and never return to market prices.

WAILUKU – John Andersen, executive director of Na Hale O Maui (NHOM), recently announced a donation of $5,000 from HomeStreet Bank to support the organization’s Matching Grant Program for down payment and closing cost assistance.

Andersen said, “For the past eight years, Na Hale O Maui has been conducting homebuyer seminars that introduce the community land trust model for affordable housing. From the hundreds of people who have attended our seminars, we have learned that the biggest obstacle they face is the lack of adequate cash for the down payment and closing costs. We hear time and time again, ‘We have good jobs, good credit, but not enough cash for the down payment.’ “

“To assist our NHOM Sustainable Leasehold buyers overcome this common obstacle to affordable housing, NHOM established the Na Hale O Maui Matching Grant Program. To date, NHOM has been funding the grant program with its own assets, and it now is seeking public support and help with a contribution to the NHOM Matching Grant Program Fund. Every dollar contributed to the fund will go to assist low and moderate households with down payment and closing cost assistance.”

Lisa Carillo, a loan officer for HomeStreet Bank, made the donation on behalf of the bank. She said, “More than a majority of the homeowners that do qualify based on credit and income do not have enough for down and closing costs. If it wasn’t for the NHOM down payment program, many of the current homeowners would not have been able to purchase their home.”

Donations may be mailed to NHOM (note on the check it is for the “Matching Grant Program”), P.O. Box 1829, Wailuku, HI 96793.