Fellows mentioned in this story: Ann Teranishi

From Pacific Business News:

American Savings Bank announced Tuesday it has launched a new affordable financing solution for first-time homebuyers that "empowers kamaʻāina to live where they love."

Called "This is Home," the program has a down payment of only 3%, compared to the traditional 20% down payment. Only 1% of the downpayment is required from the borrower and up to 2% can be from other sources, according to ASB.

The program also offers a discounted interest rate, lower mortgage insurance requirements, reduced closing costs, and complimentary housing counseling, according to the announcement.

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