SAVE TIME AND MONEY
With a Home Equity Line of Credit (HELOC), you can use your home’s value to get a much lower rate. Plus, it helps you save time on loan applications in the future. It’s perfect if you’ve got an upcoming project, but don’t know exactly how much you’ll want to borrow. You’ll have a continuous source of cash whenever you need it.
HOME EQUITY LINE OF CREDIT BENEFITS
- Credit lines up to $300,000
- Start with an initial advance of $1,000
- Great for home renovations
WHY PEARL HAWAII’S HOME EQUITY LINE OF CREDIT?
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.
WHAT CAN I USE A HOME EQUITY LINE OF CREDIT 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.
Have the flexibility to renovate or upgrade your home when you want, utilizing the equity of your home.
Use the equity in your home to pay for schooling or tuition.
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.
HOME EQUITY IS…
Home equity is the appraised value of your home minus any outstanding mortgage and loan balances. Simply, it is the portion of your home that you have paid. For many, it is also a homeowner’s most valuable asset. Additionally, home equity increases without you having to do anything more than pay your regular mortgage payments. Home equity builds over time as you pay down mortgage balances, as the value of your home increases due to renovations, or inflation. Equity in your home is an important asset for homeowners since it can be used to borrow a Home Equity Line of Credit (HELOC).
Whether you want to renovate or consolidate debt, borrowing against the equity could be a good option depending on your situation. Home loans have many similarities, but with important differences.
WHY IS HOME EQUITY IMPORTANT?
Home equity is important because it can be part of your long-term strategy for building wealth. Mortgage payments reduce what you owe while your home gains value. Basically, making payments on your home becomes a forced savings account where you can become equity rich. With the equity, you can apply for loans.
HOME LOANS | RESOURCES & PRODUCTS
- LOAN PAYMENTS
- LOAN APPLICATION
- HOME INSURANCE
- HOME LOAN SPECIAL OFFERS
- AUTOMATIC LOAN PAYMENTS
HELPFUL HOME LOAN INFORMATION
- 30 Year Mortgages | What Are They And How Does It Work?
- Is a 20 Year Mortgage Right For you?
- Just the Facts about Adjustable Rate Mortgages (ARMs)
- Make Your Home Work With Pearl Hawaii’s HELOC
- Save Time & Money With A Pearl Hawaii Mortgage
- Second Mortgage | What are they and How Do I use one?
- Home Equity Is Your Greatest Asset. Why?
- Pearl Hawaii’s Fixed Rate HELOCs
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Home Equity Lines of Credit
Type APR* AS LOW AS Based on an A-Tier rate of $10,000 80% Annual Adjustable 7.75% Annual Adjustable Rate applicable 4/1/2023 through 3/31/2024. Thereafter, the interest rate will adjust in accordance with the terms of the Credit Agreement. Max Loan Amount up to $300,000. Max Loan to Value up to 80% . 121 payments of $100.00 and 1 estimated final payment of $85.11. apply 90% Annual Adjustable 8.50% Annual Adjustable Rate applicable 4/1/2023 through 3/31/2024. Thereafter, the interest rate will adjust in accordance with the terms of the Credit Agreement. Max Loan Amount up to $150,000. Max Loan to Value up to 90%. 121 payments of $100.00 and 1 estimated final payment of $85.11. apply
*Annual Percentage Rate (APR). The loan rates advertised are “A” Tier loan rates in our Multi-Tiered Loan Rate Program. Other rates and terms are available. Other terms, conditions, and restrictions may apply. Visit any of our branches for more information. It may not be used for a business loan. The borrower must be 18 years of age or older. Promotion is subject to change or cancellation without prior notice. Only improved owner-occupant properties on Oahu accepted as collateral. You must maintain fire, hurricane, and flood (if in flood hazard zone) insurance on the property that secures your Home Equity Line of Credit Agreement. PHFCU must be listed as a loss payee on the Home Insurance policies. There are no points, pre-payment penalties, or annual fees. Closing Cost Fees that may be incurred: application fee, title insurance fee, document preparation fee, SRA\appraisal fee, appraisal review fee, trust review fee, recording fees, flood verification fee. Closing cost fees incurred will be dependent on the amount borrowed and will vary based on the member’s situation. Payment example does not include possible fees, insurance, or closing costs that may occur and will range dependent on your situation. Maximum loan amount: $300,000. The borrower must be 18 years of age or older. NMLS 472169. HELOC EARLY DISCLOSURE.
Home Equity Lines of Credit (HELOC) Fixed Intro Rates
Term APR* AS LOW AS Max Loan Amount up to $300,000. Max Loan to Value up to 80%. 3 Year 6.500% Minimum Monthly Payment of $100.00. apply
*LTV - Loan to Value. The Introductory Annual Percentage Rate (APR) of 6.50% for the first 36 months of the Introductory Period. After the Introductory Period, the rate will adjust to the standard annual-adjustable interest rate in accordance with your Home Equity Credit Agreement. The current non-introductory fully indexed variable APR is 7.75% for 80% LTV; rate applicable 4/1/2023 through 3/31/2024. The Current Variable Index Rate shown is current as of 9/1/2023 and will not exceed 18% APR. Total HELOC loan amount received, rate, and terms are subject to credit approval. Offer is valid for qualifying applications to new Home Equity Lines of Credit. Only improved owner-occupant properties on Oahu accepted as collateral. Minimum credit line is $5,000 and the maximum credit lines for an 80% LTV Fee-Simple Owner-Occupied Property, the lesser of $300,000 or 80% LTV minus the balance of your existing mortgage. Refinancing of existing Pearl Hawaii Federal Credit Union Home Equity Lines of Credit is not allowed. Membership required. Borrower must maintain fire, hurricane, and flood (if in flood hazard zone) insurance on the property and Pearl Hawaii Federal Credit Union must be a loss payee on your Home Insurance policy. There are no points, pre-payment penalties, or annual fees. Closing Cost Fees that may be incurred: title insurance fee, document preparation fee, SRA\appraisal fee, appraisal review fee, trust review fee, recording fees, application fee, or flood verification fee. Closing cost fees incurred will be dependent on the amount borrowed and will vary based on the member’s situation and are estimated between $200 to $5,000. For the introductory rate, the initial advance must be $10,000 or more. For the Current Variable Annual Rate, the initial advance must be $1,000 or more. Other conditions and restrictions may apply. Any existing junior liens from financial institutions other than PHFCU must be paid off and may be paid by an initial draw from the new Home Equity Line of Credit account. Visit any of our branches for more information. May not be used for a business loan. The borrower must be 18 years of age or older. Promotion is subject to change or cancellation without prior notice. Minimum payment for 60 month term fixed intro rates and for the current variable annual rate is $100.00, NMLS# 472169. Federally insured by NCUA. HELOC EARLY DISCLOSURE.
Home Loans | Helpful Tips
A Mortgage or Home Equity loan is a big investment and you will want to be certain that you have a trustworthy financial partner at your side. At Pearl Hawaii, we are focused on giving you the best mortgage experience possible.
- MAKE YOUR HOME WORK WITH PEARL HAWAII’S HELOC
- IS A 20-YEAR MORTGAGE RIGHT FOR YOU?
- JUST THE FACTS ABOUT ADJUSTABLE-RATE MORTGAGES (ARMS)
- WHAT MORTGAGE CAN I AFFORD?
- BUYING A HOME
- MORTGAGE APPLICATION CHECKLIST
- WHAT IS A HELOC
- MAKING A DOWN PAYMENT ON A HOME
- THE COST OF A MORTGAGE
- SELLING YOUR HOME
- INSURING YOUR HOME
- TO BUY OR NOT BUY
- HOME MONEY SMARTS