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First-Time Home Buyer’s Loan Program

Let us help you say “Welcome Home” with our First-Time Home Buyer’s Loan Program. Everyone’s a first-time home buyer at some point. At Bank of Hawaii, we’ve walked thousands of first-time home buyers through the mortgage process. From start to finish, we’re here to help you every step of the way.

Apply now

What you get

0.50% discount off Mortgage points.1

No prepayment penalty

Fixed or adjustable interest rate options

Variety of terms available

Homeownership counseling

what you need

Recent pay stubs within 30 days

IRS Form W2 for the last 2 years

‌State & Federal personal income tax returns for the last 2 years

Current bank statements for the most recent 2-month period or quarter.

Landlord information or rental agreements 

Closing contract if you already found a home

1Mortgage points, or discount points, are fees you can pay to the lender at closing in exchange for a lower interest rate, potentially reducing your monthly mortgage payments. Typically, each point costs 1 percent of your mortgage amount.

Simplifi Mortgage

Low fixed-rate mortgage products

Low fixed-rate mortgage products
30 year 1 15 year 1 VA 30 year 1
Interest Rate 3.125% 2.500% 3.250%
Annual Percentage Rate 3.174% 2.715% 3.471%3
Points 0.625% 1.500% -0.875%
Down Payment 20% 20% 0%
Monthly Principal & Interest Payment
per $100,000 borrowed
$428.382 $666.792 $435.212

Rates as of 04/07/2020 and can change without notice. Rate is based on 45-day lock for purchase transaction.

1 Maximum loan amount $765,600
2 The information provided on this page is for informational and comparitive purposes only. Rates and terms may change at any time and without prior notice. Your actual rate, payment, terms, and costs could be different. Get an official Loan Estimate before choosing a loan. Your rate, fees, and terms may differ based on various factors such as: when your rate is locked, actual occupancy status, loan purpose, loan amount, credit score, loan to value ratio, etc. The payment examples are principal and interest only and do not include mortgage insurance, taxes and other property insurance. The actual payment will be higher if mortgage insurance is required on your loan. Your actual payment obligation will be greater considering taxes and insurance premiums.
3 APR includes a 3.60% VA funding fee.

Simplifi Mortgage

Low fixed-rate mortgage products

Interest Rate
3.125%
Annual Percentage Rate
3.174%
Points
0.625%
Down Payment
20%
Monthly Principal & Interest Payment
per $100,000 borrowed
$428.382
Interest Rate
2.500%
Annual Percentage Rate
2.715%
Points
1.500%
Down Payment
20%
Monthly Principal & Interest Payment
per $100,000 borrowed
$666.792
Interest Rate
3.250%
Annual Percentage Rate
3.471%3
Points
-0.875%
Down Payment
0%
Monthly Principal & Interest Payment
per $100,000 borrowed
$435.212

Rates as of 04/07/2020 and can change without notice. Rate is based on 45-day lock for purchase transaction.

1 Maximum loan amount $765,600
2 The information provided on this page is for informational and comparitive purposes only. Rates and terms may change at any time and without prior notice. Your actual rate, payment, terms, and costs could be different. Get an official Loan Estimate before choosing a loan. Your rate, fees, and terms may differ based on various factors such as: when your rate is locked, actual occupancy status, loan purpose, loan amount, credit score, loan to value ratio, etc. The payment examples are principal and interest only and do not include mortgage insurance, taxes and other property insurance. The actual payment will be higher if mortgage insurance is required on your loan. Your actual payment obligation will be greater considering taxes and insurance premiums.
3 APR includes a 3.60% VA funding fee.

1 Maximum loan amount $765,600
2 The information provided on this page is for informational and comparitive purposes only. Rates and terms may change at any time and without prior notice. Your actual rate, payment, terms, and costs could be different. Get an official Loan Estimate before choosing a loan. Your rate, fees, and terms may differ based on various factors such as: when your rate is locked, actual occupancy status, loan purpose, loan amount, credit score, loan to value ratio, etc. The payment examples are principal and interest only and do not include mortgage insurance, taxes and other property insurance. The actual payment will be higher if mortgage insurance is required on your loan. Your actual payment obligation will be greater considering taxes and insurance premiums.
3 APR includes a 3.60% VA funding fee.

Read more

Our simple loan application and mortgage experts can get you started.

Start here 

Find a loan officer

 

Prequalified includes the amount you could qualify for, based on limited information provided solely by the borrower

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Why apply through SimpliFi Mortgage by Bank of Hawaii?

Convenient and easy online application process

Apply online through desktop, mobile or tablet

Start your application anywhere, finish it anytime

Opportunity to work with a loan officer at any stage to guide you along the way

Take the first step in your house-hunting journey

Our e-book covers some of the most important aspects you’ll need to consider when buying

cover of homebuyer guide e-book
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Trusted Lender

#1 in total dollars and numbers of loans made in the State of Hawaii*

*#1 Residential Lender ranking is for total number of residential loans and total dollars made by a lender in the State of Hawaii in 2019. Information compiled by Title Guaranty derived from Hawaii Bureau of Conveyances tax data recorded information for 2019. Information is deemed reliable but not guaranteed.

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