Mortgage Basics

City and County of Honolulu’s Down Payment Loan Program. This program assists homebuyers with a home purchase by providing the down payment assistance needed to qualify for a mortgage. Eligible borrowers must have income below the low-to-moderate-income limit (within 80% of median) and not own other residential property. For more information visit the City & Count of Honolulu website via the following link. You may also download the brochure by clicking the button below.

Here is the link to the page.

Here is the link to download the brochure.

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The first home exemption law was enacted in 1896 by the Republic of Hawaii to provide some tax relief, encourage home owner-ship and settlement of land. In 1896, the home exemption was $300. Currently, the basic home exemption is $80,000. This means that $80,000 is deducted from the assessed value of the property and the homeowner is taxed on the balance. For homeowners 65 years and older the home exemption is $120,000. To qualify for this exemption, you must be 65 years or older on or before June 30 preceding the tax year for which the exemption is claimed. In order to qualify, you must file a claim for home exemption with the Real Property Assessment Division on or before September 30 preceding the tax year for which you claim the exemption.

There are a couple of ways to do this:

1. Online
a. Click HERE to access the online form.
b. Enter your Parcel ID (TMK) Click HERE on how to find your TMK.
c. Enter your information as the new owner and follow instructions on the website.

2. Download, print, fill out, and bring form to the nearest Satellite City Hall
a. Completely fill out the form, don’t forget to enter your Parcel ID on the top left.
b. Follow instructions on page 2 of the form.

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