Home Loans

Your loan agreement requires you to maintain coverage on your vehicle for the term of your loan. We require you to provide us evidence that you have obtained acceptable insurance coverage as outlined in the loan agreement.

What Is Acceptable Insurance?

For Auto Insurance, the policy must:

• be effective on or before the effective date of the loan.
• include comprehensive, collision, and a deductible for comprehensive and collision not exceeding $500.
• have correct information about the vehicle, which includes the year, make, model, and complete VIN.
• have the borrower's/insured individual name, insurance company name, policy number, and coverage effective/renewal date.
• include Pearl Hawaii listed as loss payee/lien holder as follows: Pearl Hawaii Federal Credit Union, ATTN: Loan Department, 94-449 Ukee Street, Waipahu, Hawaii 96797

For Home Insurance, you need the following:

• Fire coverage
• Flood coverage if the property is located in a flood zone
• Hurricane coverage if the total outstanding mortgage balance is more than the total land value as stated on your property tax.
• Correct collateral description
• Borrower/insured name
• Insurance company name
• Policy number
• Coverage effective/renewal date
• Pearl Hawaii listed as loss payee/lien holder as follows: Pearl Hawaii Federal Credit Union, ATTN: Loan Department, 94-449 Ukee Street, Waipahu, Hawaii 96797

If you need to provide proof of insurance for your loan, you can submit it here:Provide Proof of Insurance    

Dependent on your personal situation, below is a list of documents we may ask you for. We may need copies of the following:

• Past 2 years most current signed Federal Tax Returns
• Past 2 years most current signed Business Tax Returns (if you own a business and file business tax returns)
• Past 2 years most current W2’s and/or 1099r’s
• Past 2 most recent paystubs
• Retirement/Annuity/Social Security Benefit Letters (if retired)
• Mortgage Statements for the property being secured and any rental properties
• Homeowners, Hurricane, Flood, and/or Master Condo insurance for the property being secured and any rental properties
• Property Tax Assessment for Rental Properties not located on the island of Oahu
• Maintenance Fees for the property being secured and any rental properties
• Association Dues for the property being secured and any rental properties
• Rental Agreement and GE License if rental income is new or has never previously been reported on tax returns
• Long-Form Trust Agreement and any Amendments made to the Trust

You can contact us by...

• PHONE | 808.737.4328
• EMAIL | Contact our mortgage team at loansdepartment@phfcu.com

There are no pre-payment penalties or annual fees. Fees that may be incurred: application fee, title insurance fee, document preparation fee, SRA\appraisal fee, tax verification fee, trust review fee, recording fees, or flood verification fee.

Closing cost fees incurred will be dependent on the amount borrowed and will vary based on the member’s situation. Average Closing Cost: $800.00-$1500.00 and may vary dependent on your personal financial situation. You must maintain broad form hazard insurance on the property, listing PHFCU as a loss payee.

Yes. At Pearl Hawaii, there are no prepayment penalties for paying off your home loan faster than your payment schedule. Overall, it is a great way to save on interest over the long run.

You can apply online at any time at our Pearl Hawaii Home Loan Application site. Once you complete your application, Pearl Hawaii's mortgage staff will contact you to let you know which items we will need to finalize your application.