{"id":10337,"date":"2022-01-21T21:42:22","date_gmt":"2022-01-22T07:42:22","guid":{"rendered":"http:\/\/thefilipinochronicle.com\/backup\/?p=10337"},"modified":"2022-01-21T21:42:23","modified_gmt":"2022-01-22T07:42:23","slug":"proposed-bill-aims-to-eliminate-down-payment-barrier-to-home-ownership","status":"publish","type":"post","link":"https:\/\/thefilipinochronicle.com\/backup\/2022\/01\/21\/proposed-bill-aims-to-eliminate-down-payment-barrier-to-home-ownership\/","title":{"rendered":"Proposed Bill Aims To Eliminate Down Payment Barrier To Home Ownership"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img data-attachment-id=\"10317\" data-permalink=\"https:\/\/thefilipinochronicle.com\/backup\/hfn-downpayment\/\" data-orig-file=\"https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?fit=900%2C510&amp;ssl=1\" data-orig-size=\"900,510\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"hfn downpayment\" data-image-description=\"\" data-medium-file=\"https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?fit=300%2C170&amp;ssl=1\" data-large-file=\"https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?fit=640%2C363&amp;ssl=1\" src=\"https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?resize=487%2C275\" alt=\"\" class=\"wp-image-10317\" width=\"487\" height=\"275\" srcset=\"https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?w=900&amp;ssl=1 900w, https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?resize=300%2C170&amp;ssl=1 300w, https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?resize=768%2C435&amp;ssl=1 768w\" sizes=\"(max-width: 487px) 100vw, 487px\" data-recalc-dims=\"1\" \/><\/figure><\/div>\n\n\n\n<p>Hawaii District 17 Representative Gene Ward aims to eliminate the down payment requirement on home buying in newly proposed bill.<br><br>\u201cA down payment is the biggest barrier to home ownership in Hawaii and forces almost 50% of our population to be renters all of their lives,\u201d Ward stated in a statement.<br><br>The statement also explains that since interest rates are still low, Ward\u2019s proposed bill fits the current economy and housing market.<br><br>Existing down payments vary from 5 to 20% of the total house price&nbsp; can still be prohibitive even for the most and Ward says it\u2019s the reason why Hawaii has one of the lowest home-ownership-to-renters ratios in the nation.<br><br>Ward\u2019s proposed bill requires homebuyers to meet four criteria to be eligible for a no down payment purchase: a high credit score, a resident of Hawaii for 5 years, employed with sufficient income to meet monthly payments and a first time homebuyer.<br><br>\u201cWe want to reward the hardworking people of Hawaii with the ability to buy a home rather than moving to the mainland to live the American dream,\u201d said Ward.<br><br>\u201cWe also hope this will also start a \u201cKama\u2019aina Come Home\u201d movement to stop the \u2018brain drain\u2019 to the mainland and bring back our many families to Hawaii.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hawaii District 17 Representative Gene Ward aims to eliminate the down payment requirement on home&#8230;<\/p>\n","protected":false},"author":1,"featured_media":10317,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","_links_to":"","_links_to_target":""},"categories":[11,5],"tags":[],"featured_image_urls":{"full":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?fit=900%2C510&ssl=1",900,510,false],"thumbnail":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?resize=150%2C150&ssl=1",150,150,true],"medium":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?fit=300%2C170&ssl=1",300,170,true],"medium_large":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?fit=640%2C363&ssl=1",640,363,true],"large":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?fit=640%2C363&ssl=1",640,363,true],"1536x1536":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?fit=900%2C510&ssl=1",900,510,true],"2048x2048":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?fit=900%2C510&ssl=1",900,510,true],"ultp_layout_landscape_large":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?resize=900%2C510&ssl=1",900,510,true],"ultp_layout_landscape":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?resize=870%2C510&ssl=1",870,510,true],"ultp_layout_portrait":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?resize=600%2C510&ssl=1",600,510,true],"ultp_layout_square":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?resize=600%2C510&ssl=1",600,510,true],"covernews-slider-full":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?resize=900%2C510&ssl=1",900,510,true],"covernews-slider-center":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?resize=800%2C500&ssl=1",800,500,true],"covernews-featured":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?fit=900%2C510&ssl=1",900,510,true],"covernews-medium":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?resize=540%2C285&ssl=1",540,285,true],"covernews-medium-square":["https:\/\/i1.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2022\/01\/hfn-downpayment.jpeg?resize=375%2C250&ssl=1",375,250,true]},"author_info":{"info":["admin"]},"category_info":"<a href=\"https:\/\/thefilipinochronicle.com\/backup\/category\/_news\/hawaii-filipino\/\" rel=\"category tag\">Hawaii - Filipino<\/a> <a href=\"https:\/\/thefilipinochronicle.com\/backup\/category\/_news\/\" rel=\"category 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