Home Equity Line of Credit (Fixed-Rate)
You’ve put a lot of love and hard work into your home, so let HawaiiUSA FCU reward you with a Home Equity Line of Credit that allows you to use the equity in your home to fund other goals in your life. Only owner-occupied properties in the state of Hawaii are eligible.
Having more choices matters… Introducing HawaiiUSA’s new Home Equity Line of Credit with Initial Fixed-Rate Terms. This line of credit gives you the power of choice, with seven (7) initial fixed-rate options to choose from and some of the most competitive rates in town.
Initial Fixed-Rate HELOC Options1
Initial Fixed-Rate (APR*)
Current Variable Rate (APR*)
- Term: 15 year (5-year draw period with a 15-year amortization)
- Credit Limit: $10,000 to $200,000
- Minimum Advance: $250
Saving your money matters...
- No annual fee
- No prepayment penalty
- No check purchase fee
- No points fee
- Interest payments may be tax deductible2
For more Home Equity Line of Credit loan options visit any of our branches or call (808) 534.4300 or toll-free (800) 379.1300.
* Annual Percentage Rate
1 HOME EQUITY LINE OF CREDIT (“HELOC”): Annual Percentage Rate (APR) as low as 0.75% APR fixed for one year (first 12 months), from the date your new home equity line of credit (HELOC) account is opened (initial fixed-rate term). After the initial fixed-rate term, the interest rate may vary on a quarterly basis on the statement cycle date of February, May, August, and November. The APR will equal 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 0.24% as of 2/1/2015. The current non-discounted fully indexed variable APR as of 2/1/2015 is 4.25%. 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 4.25%, 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 $25,000 or more new monies is advanced at opening, certain third party fees may be waived (fees waived include valuation assessment, title insurance, recordation, credit report and flood certification/tracking) when you agree to maintain the account balance less normal minimum 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 are available with price adjustments. HELOC has a five-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.
2 Consult with a tax professional for details.