(a) The corporation shall establish requirements for property financed by an eligible loan, and may consider, but not be limited to the location, age, condition, and other characteristics of the property.
lease

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Terms Used In Hawaii Revised Statutes 516-95

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: means the Hawaii housing finance and development corporation created by chapter 201H. See Hawaii Revised Statutes 516-1
  • Eligible loan: means a loan to an eligible borrower for the purchase of the leased fee interest in the eligible borrower's houselot; provided that the property financed is and will be occupied as the principal place of residence by the eligible borrower, and meets other requirements as established by rules adopted by the corporation. See Hawaii Revised Statutes 516-91
(b) The corporation shall establish restrictions on the terms, maturities, interest rates, collateral, and other requirements for eligible loans.
(c) All eligible loans made shall comply with applicable state and federal laws.

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