Hawaii Habitat for Humanity Association, Inc. (HHFHA) announces its first transaction with a Hawaii bank in its Mortgage Financing Program.
HHFHA’s Mortgage Financing Program provides an opportunity for the five local Habitat affiliates to leverage their mortgage assets for cash through the process of selling their 0% interest, mortgage loans to a financial institution, or other institutional investors. A program like this gives the local Habitat offices an opportunity to leverage tomorrow’s funding today.
The first transaction was completed with the sale of Habitat for Humanity Maui (HFHM) to Central Pacific Bank. Although HFHM has been involved with this program for years, the unique model now benefits all five of the Habitat affiliates in Hawaii in a way that does not require them to compete for similar funding against each other.
Read the full Press Release Here.