There's never been a better time to access your HawaiiUSA Home Equity Line of Credit (HELOC) than now! Take advantage of HawaiiUSA's promotional low rates! Simply write a check from your HELOC account or visit one of our 12 branches to draw a minimum of $20,000*.
- 1.75% APR* for the first 24 months with $20,000 initial draw.
- Promotional rate valid 11/1/2013 - 1/31/2014
- Advances will be charged at your account's prevailing rate.
- 4.00% APR* current prevailing variable rate
HOME EQUITY LINE OF CREDIT (“HELOC”): The initial discounted Annual Percentage Rate (APR) of 1.75% (“the Initial Rate”) will be effective for the first 24 months from the date the Home Equity Line of Credit account is opened (“the Initial Discounted Period”). Offer is valid for applications received between 11/01/13 through 01/31/2014 that fund by 02/28/2014. To receive the Initial Rate, an initial draw of at least $20,000 in new monies (disbursements for fees and insurance will be charged at the regular rate) must be advanced at opening, and you agree to (i) not close your credit line prior to the first anniversary of the opening date and (ii) maintain the account balance less normal monthly payments for a period of six-months from opening. The Initial Rate is not available to anyone with any HawaiiUSA FCU home equity line of credit that was open prior to 11/01/13 or when paying down or paying off any existing HawaiiUSA FCU loan. After the Initial Discounted Period, the APR may vary on a quarterly basis on the statement cycle date of February, May, August & November. The APR will be equal to the index, which is the weekly average yield on US Treasury Security adjusted to a constant maturity of one year, plus a margin of 2.50%, rounded up to the nearest 0.25%. The current index is 0.16% as of 11/01/2013. The current non-discounted fully indexed variable APR as of November 1, 2013 is 4.00%. The rate cannot increase or decrease more than 1.00% at each quarterly rate adjustment but may exceed that for the single adjustment at the end of a promotional discounted rate period. In no event will the APR be less than 4.00% the floor rate, nor higher than 18.00% or the maximum permitted by law, whichever is less. HawaiiUSA FCU charges no credit union closing cost; however, you will be required to pay certain fees to third parties at closing that may range from $0 - $1,500. These fees if required include, but are not limited to, title insurance ($125-$300), escrow fees ($200-$500) recording fee ($26-$55), trust review and trust documentation ($155-$400), mortgage or other document preparation fees ($125-$175), and property evaluation ($65-$100). We will use a property evaluation to determine the property value. If the value is not sufficient, an appraisal will be required at your expense with the estimated cost varying from $500 to $1,500 depending on the property. When an initial draw of a minimum $20,000 or more new monies is advanced at opening, certain third party fees may be waived* when you agree to (i) not close your credit line prior to the first anniversary of the opening date and (ii) maintain the account balance less normal monthly payments for a period of six-months from opening. Hawaii properties must be fee simple and owner occupied to qualify. Maximum loan amount is lesser of $200,000 or up to 80% of your home value. Higher LTV programs available with price adjustments. HELOC has a 5-year draw period with a 15-year amortized repayment (principal and interest payment). Minimum monthly payment is $150. You must carry fire, hurricane & flood (if applicable) insurance on the property that secures the credit at homeowners’ expense. No annual fee or prepayment penalty. HawaiiUSA FCU membership is required (minimum $5 share account). Program subject to change or discontinuation without notice. *Fees waived include valuation assessment, title insurance, recordation, credit report and flood certification/tracking.