First-time Homebuyer
Helping More Dreams Come True

Purchasing your first home can be full of difficult challenges. That’s why we at American Savings Bank try to make it easier for you to overcome the obstacles to homeownership and realize your dream. Our First-time Homebuyer Program (also called the "American Dream Loan Program") offers flexible qualifying ratios and more liberal income eligibility limits. Both Fixed and Adjustable Rate Mortgage (ARM) loans are available.

Apply Online - Get information on our online mortgage and equity line application . If you're ready to apply, click here .

	Highlights Below > Benefits You’ll Receive > Fast Facts > Requirements to Qualify

Benefits You’ll Receive

• Free notary service for this transaction
• Reduced down payment requirement
• Choice of Fixed Rate or ARM for fee simple or leasehold properties
• Lower loan fees (points) with a convenient AutoPay option from an existing checking account
• Free Online and Bank-by-Phone services — check your current balance, due date, etc.
• Free rate lock anytime during loan processing

	Fast Facts Fact Sheet
	Down Payment 3% minimum required (some restrictions apply)
	Closing Costs Applicable and may include appraisal and other fees
	Get Rates

Requirements to Qualify

This loan is designed for first-time homebuyers (owner-occupants) and people who haven’t owned a principal residence in the last three years. Additional qualifications for loan applicants include:

• U.S. citizenship and residents of Hawaii
• At least 18 years of age
• Annual combined family income not exceeding the county maximum1 listed below:

  Oahu — $138,775

  Hawaii — $113,925

  Maui — $131,950

  Kauai — $123,550

1. As of March 2009. The maximum allowable income may change each May by county.