Who this is for
Built for people buying their first place in the islands
Renters ready to stop paying someone else's mortgage
If your rent is close to what a payment would be, it is worth running the numbers. Sometimes the answer is buy now, sometimes it is wait six months and fix one thing on your credit.
Condo buyers
Most first homes on Oahu are condos. I check whether the building is approved for the loan type before you write an offer, so you do not lose your deposit or your deadlines.
Buyers who haven't owned in 3 years
Many first-time programs define first-time buyer as anyone who has not owned a home in the last three years, so a past owner can often qualify again.
Families with gift money
Help from family toward the down payment is allowed on most programs with a simple gift letter and a paper trail.
Program highlights
Programs that lower what you need at closing
Conventional 97
As little as 3% down for qualified first-time buyers, and mortgage insurance can be removed later as you build equity.
FHA
3.5% down with a 580+ credit score and more flexible debt-to-income guidelines.
Hale Kamaʻāina (HHFDC)
The state's first-time buyer program with below-market fixed rates and a 4% soft second for down payment help, if you meet the income and price limits. How it works →
VA and USDA
Zero down for eligible veterans, and for homes in USDA-eligible rural areas on the neighbor islands and parts of Oahu.
Qualification guidelines
What lenders look at
Typical guidelines across my lender network. Every file is different, and I will tell you exactly where you stand after a quick review.
| Factor | Typical requirement | Required? |
|---|---|---|
| Credit score | 580+ FHA, 620+ conventional (higher scores price better) | ✓ YES |
| Down payment | 0% (VA/USDA) to 3–5% (conventional/FHA) | ✓ YES |
| Debt-to-income | Usually up to 43–50% depending on program | ✓ YES |
| Income documents | W-2s, pay stubs, tax returns if self-employed | ✓ YES |
| Homebuyer education | Required for some programs and assistance | SOMETIMES |
| Gift funds | Allowed with a gift letter | ✓ ALLOWED |
| Perfect credit | Not needed | ✗ NOT REQUIRED |
In Hawaii
What's different about buying your first home here
- Condo approval matters. FHA and VA require the building to be approved, and conventional loans have their own project review. A building that fails can still be financed, but with different programs. Non-warrantable condos →
- Leasehold property. Some Hawaii homes and condos sit on leased land. The lease term affects which loans work. Leasehold guide →
- Maintenance fees count. Oahu condo fees can be large. Lenders include them in your debt-to-income ratio, so I factor them in from the start.
- Higher loan limits. Hawaii's 2026 conforming limit for a one-unit home on Oahu is $1,249,125, so most first homes fit in a conventional loan.
How it works
From first call to closing
- Free 10-minute callTell me what you're looking for and what you have saved. I'll tell you honestly what's realistic.
- Pre-approvalOne credit pull, then I shop your file and give you a pre-approval letter you can write offers with.
- Find the homeBefore you offer on a condo, send me the building. I'll confirm it fits your loan.
- CloseI keep you and your agent updated from contract to keys.
Common questions
First-Time Buyer FAQ
What counts as a first-time buyer?
For most programs, anyone who has not owned a home in the past three years. HUD and the Hale Kamaʻāina program both use the three-year test.
How much do I really need to save?
Down payment (0% to 5% depending on program) plus closing costs and reserves. Seller credits and down payment assistance can cover part of it. I'll give you an itemized estimate.
Will checking my options hurt my credit?
I pull credit once and use that report to compare lenders. You do not have to apply at bank after bank.
Can I buy a condo with FHA or VA?
Yes, if the building is FHA- or VA-approved, or in some cases with an FHA single-unit approval. I check before you write the offer.
Sources: 12 CFR 1026 (TILA-RESPA); HUD Handbook 4000.1; Fannie Mae Selling Guide (B5-6, HomeReady; 97% LTV options); FHFA conforming loan limits; HHFDC Hale Kamaʻāina Mortgage Program presentation, March 9, 2026.
