Haw. Code R. § 15-302-14 - Eligibility for assistance

(a) An applicant shall be eligible to participate in the rent-to-own program if the applicant meets all of the following requirements:

(1) Is a qualified resident who is domiciled in the State;

(2) Has not previously received assistance under a homeownership program designed and implemented under chapter 201H, HRS, by the corporation or any of the counties in the State. However, the corporation may, on an individual basis, allow a person who previously purchased a dwelling sponsored by the corporation or any of the counties to reapply provided that the corporation or the county repurchased the dwelling unit and there has been a significant change in one of the following:

(A) Family size;

(B) Place of employment; or

(C) Income;

provided that an applicant may become eligible again if the sale of such person's first dwelling was caused by extreme hardship such as family death, divorce, loss of employment, or a handicap, and the dwelling was repurchased by the corporation or the county;

(3) Has an acceptable credit report;

(4) At least one head of household family member must be gainfully employed or have an established source of continuing income;

(5) Has a sufficient income such that the monthly rental payment will not exceed forty per cent of gross monthly income unless offset by other favorable factors, such as sufficient savings, as determined by the corporation;

(6) Does not have a record or history of conduct or behavior, including past rent payment delinquencies, which may prove detrimental to other tenants or the corporation; and

(7) Is at least eighteen years of age.

(b) The corporation may also establish other requirements for participation in the program, such as asset limits.

Notes

Haw. Code R. § 15-302-14

[Eff JUN 15 2007] (Auth: HRS §§ 201H-4, 201H-181) (Imp: HRS § 201H-181)