HRS §431:6-307
Mortgage loan limited by property value
This section limits how much a mortgage loan can be for, based on the property's fair value. For a one-family home with a long repayment plan, the loan can be up to 80% of that value. For all other properties, it can be up to 75%. Government-backed guarantees can reduce the loan amount before applying these limits.
homeownerslandlordstenants
The statute, as written — Mortgage loan limited by property value
(a) No mortgage loan or investment therein upon any one parcel of real property shall exceed in amount at the time of acquisition: (1) Eighty per cent of the fair value of the property if the property is a dwelling house primarily intended for occupancy by one family, and the loan is required to be amortized within not more than thirty years by payment of installments thereon, at regular intervals not less frequent than every three months; or (2) Seventy-five per cent of the fair value of the property in all other cases. (b) The extent to which a mortgage loan made under section 431:6-306(3) is guaranteed or insured by an agency of the United States, may be deducted before application of the limitations in subsection (a).
Sections this one refers to
§431:6-306 What kinds of mortgage investments an insurance company can make
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