HELOC Fixed Advance
Make big things happen
Whether it's remodels or college costs, this loan is perfect for large-sized needs.
A SMARTER TYPE OF LOANThis is a customizable Home Equity Line of Credit (HELOC) with fixed-rate options. You can use the loan for what you want when you want... and you can even use the fixed-rate option to pay off the Annual Adjustable HELOC. Pearl Hawaii's HELOC Fixed Advance offers a fixed-rate advance option that allows you to lock in some or all of your HELOC balance at a low fixed-rate to potentially save money over time. The balance locked then moves to a term loan with term options of 1, 2, 3, 5, 7, and 15 years. Call our Mortgage Loan Officer at 808.737.4328 or contact our mortgage loan team.
- No annual fees
- Terms available: 1, 2, 3, 5, 7, and 15 years.
- Maintain up to 4 separate loans at a time (1 adjustable rate line-of-credit and 3 fixed rate advances)
- No prepayment penalties
- Initial advance is only $1000
- Subsequent Advances is only $250.00
- It's a term loan (like an auto or personal loan). This means you can set your term and have a consistent monthly payment.
- More predictability
- There is a set payment
- Fully Amortized
HOW CAN WE HELP YOU?
WHY PEARL HAWAII’S HELOC?
As property values in Hawaii grow, equity in your home is also available. Pearl Hawaii’s HELOC can help you cover larger expenses. Of course, it doesn’t make sense to refinance your existing mortgage unless you have a high rate. If you have a lower interest rate on your existing home loan, tapping into the existing equity with a Home Equity Line of Credit (HELOC) may make the most sense to help you cover larger expenses.
WHEN SHOULD YOU USE A FIXED RATE ADVANCE?
Sometimes converting your variable HELOC to a fixed-rate is the best choice. Whether it’s a home renovation project or a large unexpected expense, it’s wise to examine both variable-rate and fixed-rate options to make the right decision for your needs. Unlike a personal loan a fixed-rate advance does not limit you to just one loan — you can take up to three fixed-rate advances. You can even take out a fixed-rate advance on the entire HELOC amount, and with the fixed interest rate, you’ll know exactly what your payments will be so you can plan for them.
WHAT CAN I USE A HELOC FIXED ADVANCE FOR ?
CONSOLIDATE | RENOVATE | EDUCATE | CELEBRATE
Consolidate variable debt like high-interest credit cards into one fixed rate HELOC option. Once this balance is initially moved to Pearl Hawaii’s HELOC, you can begin paying off with a lower rate and peace of mind.
During renovations, your interest rates on a variable-rate HELOC could fluctuate, landing you at a higher rate while the renovation is in progress. A fixed-rate loan can be the perfect solution when remodeling a home.
If you need to pay for tuition, do so with a fixed rate. It provides predictability as the fixed payment will not change over the life of the loan.
Want to finally take that dream vacation, perhaps you need to finance a wedding, cover costs for your next child, or need to grab a new car? Celebrate with a Pearl Hawaii HELOC Fixed Rate Advance.
HOW DO I CONVERT TO A HELOC FIXED ADVANCE?
If you already have a HELOC, and want to transfer to a fixed-rate, there are options. You can take out any sum up to your HELOC maximum at any time during the HELOC Fixed Advance’s 1, 2, 3, 5, 7, and 15 years draw period for fixed-rates.
With Pearl Hawaii’s HELOC Fixed Advance, you can withdraw as much or as little of your credit line as needed, just as with a variable-rate HELOC. Unlike a variable-rate HELOC, the interest rate on any amount you use will have the same interest rate applied throughout the draw period. The ability to switch between variable and fixed rates allows you to take advantage of lower interest rates when they become available. Additionally, locking in a fixed interest rate can provide predictable with your monthly payments.
The fixed-rate portion of the HELOC can be locked in with term options of 1, 2, 3, 5, 7, and 15 years. During the term, the loan is paid back like a typical mortgage.
HOW CAN A HELOC FIXED ADVANCE HELP YOU?
- Transfer higher interest-rate credit card or loan balances from other financial institutions to your HELOC. Once transferred, set up a Fixed-Rate Loan Option to pay off the balances.
- Protect against rising interest rates. If variable rates on your HELOC balance move above the fixed rate of a HELOC Fixed Advance, you could pay less interest on the fixed rate balance.