28 May 2019 House and Lot Offering
Aloha and thank you to all 274 households who submitted Income Assessment paperwork for our 2019 house & lot offering. The deadline to submit was last week Wednesday, May 22, 2019 at 4:00pm. The random drawing to assign file review numbers was conducted the afternoon of May 23. If you would like to know what your file review number is, please call 335-0296 ext. 0 to speak with reception, or dial direct to extensions 115 for Shana or 116 for Christy.
Currently we have 25 lots available in our Eleele Iluna subdivision. As we stated at our meetings, we may have other scattered lot opportunities available, but nothing else is confirmed at this time.
Please remember, we do not conduct a “lottery drawing” to assign lots. Our random drawing determines the order that your file is reviewed. If you are committed to this process, and your file is not yet in review, be sure to set yourself up for success by (1) continuing to pay bills on time and (2) keeping paystubs together in one place for all adults in the household age 18 or older.
Here’s what happens in the Income Assessment Review Process, but first please be reminded that file review can take anywhere from 1 year, to 2 years, or more.
- File review number is assigned (this happened on 5/23).
- Files will be reviewed in order, by file review number, starting with #1. (As stated above, this is a 1-2 year process, or more.)
- When your file is at the review stage, you will be contacted to set up a date and time for your Income Assessment Phone Call (need 45 minutes for this call).
- After your Income Assessment Call, you will be contacted by email and asked to submit updated paperwork.
- After updated paperwork is received, Habitat loan processors will determine if your current situation enables you to take the next step of completing a USDA loan application.
Below is what happens during the Loan Application Process (which comes after Income Assessment). Please note, that just like the long wait with file review, the loan application process is also very long.
- If you meet the criteria explained in the Income Assessment packet you received in May, Habitat staff will give you a loan application to fill out completely.
- Once you complete the USDA loan application and submit it back to Habitat, Habitat loan processors will review it, and if the applicant meets all qualifications, Habitat will make a recommendation to USDA to approve funding of the loan. At this time, Habitat and the applicant must wait for USDA to confirm that the loan will be approved for funding.
What happens after the Loan Application/Loan Funding Process?
- After USDA approves funding of the loan, and there are several other households at the same part of the process, Habitat Management will set up a time to hold a 2-hour Group Orientation Meeting to review our building agreement and program rules.
- Between the time the USDA loan is approved for funding and when the loan actually closes, it could be weeks, or it could be many months or more. Please remember and be prepared that the entire process is a very long process.
- Once your loan is closed, and recorded with the State of Hawaii Bureau of Conveyances, Habitat can then apply for building permits with the County of Kauai.
- You will have a Sweat Equity meeting to review rules of the Sweat Equity Program with our Volunteer Program Manager.
- You will also have a separate Construction Orientation with our Construction Superintendent and other construction supervisors.
- Construction on the homes will begin when the Construction Superintendent communicates a start date.