Great News for Affordable Housing Applicants! DTI Ratio Requirement To Be Lifted at The Flats and Park on Keeaumoku

Looking to buy an affordable condo at The Flats At Sky Ala Moana or The Park on Keeaumoku but worried about the qualifying ratios? We have some fantastic news! Effective April 1st, 2024, the Department of Planning and Permitting (DPP) is eliminating the 33% Debt-to-Income (DTI) requirement for these two development's Affordable Housing units.

This change addresses a major hurdle for many potential buyers who may have been previously disqualified due to student loans, car payments, or other existing debts. By removing the 33% DTI restriction, the DPP aims to increase accessibility and open the doors for more qualified individuals to achieve homeownership at these sought-after new buildings.

What Does This Mean for You?

If you've been eyeing a condo at The Flats or The Park on Keeaumoku but the DTI ratio was a concern, now's the perfect time to revisit your options! Contact ONE of our Sales Agents to learn more about the application process and eligibility requirements under the revised guidelines.

Important Notes:

• While the DTI requirement is lifted, other qualifying factors like income limits, household size, credit score will remain unchanged and still apply.
• A unique benefit of this Affordable program is NO SAE (Shared Appreciation Equity) is required.
• The Flats have Affordable Studios, 1 & 2 Bedrooms available starting from $270,000 Fee Simple!
• The Park On Keeaumoku have Affordable Studios, 1 & 2 Bedrooms available starting from $348,000 Fee Simple!

This change is a welcome step towards expanding affordable housing opportunities in Hawaii. We look forward to seeing more residents achieve their dream of homeownership at The Flats and Park on Keeaumoku!