HI HB926

Eliminates down payment requirements for eligible Hawaii residents purchasing their first home, allowing mortgage principal obligations up to 100 percent of the cost of acquisition.

Establishes "eligible mortgagors" definition requiring: minimum credit score of 620, current Hawaii residency of at least 5 consecutive years, first-time home buyer status, and principal residence occupancy.

Defines "first-time home buyer" as a Hawaii resident who has not owned or purchased a single-family residence during the three years prior to purchase.

Prohibits mortgage lenders, corporations, and financial institutions from requiring down payments from eligible mortgagors for home purchases.

Effective for taxable years beginning after December 31, 2023.