Don't let the equity in your home go untapped! Before you take out a fixed-rate loan, consider a home equity line of credit (HELOC) and have the cash you need for those home renovation projects, college tuition, and other large unexpected expenses.
Plus, up to 100% of your interest expense may be claimed as a tax deduction.*
Consumer Financial Protection Bureau's
* Tax deductible interest may vary, so check with your tax advisor first for specific home equity tax deduction guidelines.
Investor home equity lines of credit are also available. Please contact us for more information. NMLS# 421418.
*Special Introductory Annual Percentage Rate (APR) of 2.49% is fixed for first 36 months from time of closing; OR Special Introductory Annual Percentage Rate (APR) of 3.49% is fixed for first 60 months from the time of closing; and are valid for new home equity line of credit (HELOC) applications. After the introductory fixed rate period of 36 months or 60 months, the rate is variable and is currently 4.94% APR until 2/28/2021. After 2/28/2021, the APR may vary annually and will be equal to the 26-week Treasury, plus a margin of 3.50%. Maximum APR is 18.00%.
**Promotion is up to 80% Loan-to-Value financing and applies to Owner-Occupants only. For this promotion, the minimum initial draw is $25,000, or a full draw of the credit limit if your credit limit is less than $25,000. No refinancing of an existing Hickam FCU Home Equity Line of Credit (HELOC) that is currently under a promotional rate or less than 66 months into the original 6-year draw period. Hickam FCU members with an active Hickam FCU HELOC whose 6-year draw period has expired or will be expiring within 6 months from the application date will be eligible to refinance their existing HELOC with a new Hickam FCU HELOC at the current promotional Special Introductory Annual Percentage Rate. This new loan is subject to a new application, normal underwriting and credit approval, new mortgage, and closing costs. The home equity line must be secured by improved fee-simple property located in the state of Hawaii. Property insurance required. Closing costs including appraisal costs, trust reviews and other third party fees estimated between $300 and $1,800 may apply. Minimum and maximum line amounts are $10,000 and $400,000, respectively.
***Same-day loan decisions for completed applications received prior to 12:00 p.m. Monday thru Friday during HFCU business hours. Loan decisions for completed applications received after 12:00 p.m. or on Saturday, Sunday or holidays will be made on the next business day. All loans are subject to qualifications and approval. Certain terms and conditions apply. Rates, terms, and conditions are subject to change without notice. Hickam FCU membership required. Offer effective 10/1/2019 thru 6/30/2020.