Amends the Downpayment Loan Assistance Program by: removing the prohibition on combined loan-to-value ratios; clarifying the Hawaii Housing Finance and Development Corporation's authority to establish interest rates and allow payment waivers and interest forgiveness; authorizing financial institutions, mortgage lenders, and other loan originators to originate downpayment loans; and reducing the borrower's required personal contribution toward the downpayment. Authorizes borrowers to use a portion of a downpayment loan to pay for closing costs, prepaids, and reserves for the purchase of the residential property for which the downpayment loan is provided. (CD1)

Statutes affected:
HB2270: 201H-161, 201H-162
HB2270 HD1: 201H-161, 201H-162
HB2270 SD1: 201H-161, 201H-162, 201H-163
HB2270 CD1: 201H-161, 201H-162, 201H-163