Family grants match savings to buy homes, reduce debt
The Hawaii Family Finance Project, funded in part by the U.S. Treasury department and First Hawaiian Bank, has launched a statewide initiative to match savings funds of families to improve credit scores and achieve homeownership. Eligible households can apply to receive four dollars in matching grant funds for every dollar saved up to a maximum of $8,000 in match on $2,000 saved by a family.
The project also provides one-for-one matching grants on savings, up to $2,000, to pay down consumer debt and improve credit scores. These Individual Development Accounts are matching grants that help families reach important goals they are saving for. The programs are available to Hawaii families, rural or urban, Oahu or neighbor islands, native or non-native, on fee simple or trust land properties.
Three HUD certified housing counseling agencies are delivering services under the Hawaii Family Finance Project. To receive free services in homebuyer training, technical assistance and to apply for an Individual Development Account, contact one of the project partners:
- Hawaii HomeOwnership Center, (808) 523-9500 or firstname.lastname@example.org
- Hawaiian Community Assets, (808) 587-7886 or email@example.com
- Council for Native Hawaiian Advancement, (808) 596-8155 or firstname.lastname@example.org
Source: USDA media release