Haw. Code R. § 6-27-14 - Term
(a) The term of any member home loan shall
not exceed thirty years or the lesser period as may be determined appropriate
upon consideration of the character and economic life of the property securing
the loan. There shall be no minimum term requirement.
(b) If the loan is secured by first mortgage
on leasehold property, the fixed rental term of the lease shall extend at least
five years after the date of the execution of the note and mortgage, and the
remaining term of the lease shall extend at least two years after the stated
maturity date of the note and mortgage.
(c) The term of any leasehold conversion loan
shall not exceed fifteen years.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.