Hawaii § 207-3 - Purpose for and terms of loans.
Full text of Hawaii Hawaii Revised Statutes § 207-3 — Purpose for and terms of loans., with citation guidance and answers to common questions.
§ 207-3. Purpose for and terms of loans.
[(a)] Loans of state funds made pursuant to this part may be granted only for construction of residences upon the premises. Loans shall be secured by a mortgage which may be subordinate only to another mortgage given to a lending institution as security for a loan for the purpose provided above. Loans shall be made to relieve the burden of the required down payment or to extend the period over which monthly payments would be required upon a finding that the applicant's income would not otherwise reasonably support such payments. [(b)] Loans shall not exceed twenty-five per cent of the cost of the improvements, and in no case shall any loan exceed $5,000. The director of finance shall by appropriate regulation establish the interest rate on the state loan and may authorize repayment upon such terms as the director of finance deems appropriate but in no case shall the payments extend beyond forty years. [L 1961, c 194, §4; am L 1963, c 114, §1; Supp, §98L-4; HRS §207-3; gen ch 1985] Previous Vol04_Ch0201-0257 Next
Source: official Hawaii text · Last verified 2026-08-27
Frequently Asked Questions About Hawaii § 207-3
What does Hawaii Revised Statutes § 207-3 cover?
Section 207-3 ("Purpose for and terms of loans.") is part of the Hawaii Revised Statutes, the codified statutory law of Hawaii. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Hawaii § 207-3?
A common citation format is "Hawaii Revised Statutes § 207-3" (Hawaii). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Hawaii law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Hawaii official source linked on this page or consult a licensed Hawaii attorney.
How does Hawaii § 207-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Hawaii can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Hawaii.