Apply Now for a Construction to Permanent Loan
Follow the instructions below to get started
Follow the instructions below to get started
With a Construction to Permanent Loan you have the ability to lock in your 15 or 30-year loan rate before the construction on your home begins. You can start building with the confidence of knowing how much your payments will be before construction starts.
Get one-on-one help today by contacting the Credit Union and asking for a Loan Officer.
View a list of our Mortgage Loan Originators
Download the Construction Loan Packet
Konahomeowner![]()
We're loving our new house we built with our HFS construction-to-permanent loan! The information packet laid out exactly what we needed to do. The loan team was very helpful and kept us up-to-date along the way.
1APR= Annual Percentage Rate. Example: 1A 30 year mortgage at 360 payments for the permanent phase with an annual percentage rate of 7.000% (interest rate of 7.000%). The construction phase would then have an interest only rate of 8.500%, which is equal to a margin of 1.5% over the permanent interest rate of 7.000%. The APR would be 8.500%. Subject to credit approval. Rate may vary based on loan term.
SAFE Act Information
On July 28, 2010 the Nation Credit Union Administration (NCUA) and other Federal Agencies published a final rule to implement the federal registration requirements of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). The registration requirements apply to all employees acting in the capacity of a Mortgage Loan Originator (MLO). The S.A.F.E. Act requires all MLOs to register with the Nationwide Mortgage Licensing System and Registry (NMLS). Upon completing this registration, each MLO is provided with a Unique Identifier number from the NMLS. An MLO must provide this Unique Identifier number to each mortgage loan applicant upon request and prior to the employee acting as an MLO.
Membership with the Credit Union is required and open to all who live, work, worship, attend school, volunteer or participate in associations headquartered on the island of Hawaii. A minimum opening balance of $50.00 is required to open a Savings Account.
We're loving our new house we built with our HFS construction- to-permanent loan! The information packet laid out exactly what we needed to do. The loan team was very helpful and kept us up-to-date along the way.
Construction to Permanent | Interest Rate | APR |
12 Months interest only payments - converts to 180 or 360 payments | Construction Phase: Selected 1st Mortgage rate for permanent phase + 1.5% | Based off selected 1st Mortgage rate |
APR= Annual Percentage Rate. Example: 1A 30 year mortgage at 360 payments for the permanent phase with an annual percentage rate of 7.000% (interest rate of 7.000%). The construction phase would then have an interest only rate of 8.500%, which is equal to a margin of 1.5% over the permanent interest rate of 7.000%. The APR would be 8.000%. Subject to credit approval. Rate may vary based on loan term.
First Mortgage Term | Interest Rate | APR | Monthly Principal and Interest Payment |
Up to 180 Months | 6.550% | 6.550% | $873.86 per $100,000 borrowed |
Up to 360 months | 7.000% | 7.000% | $665.31 per $100,000 borrowed |
Subject to credit approval. Rate may vary based on loan term.
Membership with the Credit Union is required and open to all who live, work, worship, attend school, volunteer or participate in associations headquartered on the island of Hawaii. A minimum opening balance of $50.00 is required to open a Savings Account.
Member will be responsible for all expenses incurred to secure the loan. This includes an initial deposit of $800.00 to defray expenses for:
Note: Member will pay before final closing, any outstanding expenses exceeding the $800.00 deposit. Member will be refunded any balance of the $800.00 initial deposit at first disbursement, or any balance can be applied to escrow costs.
Calculate your monthly payments or see how much you can afford.
The Calculator Tools are not guarantees of credit. Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
The property where the construction is taking place must be in the member’s name for at least one month before starting a Construction Loan. If financing is needed, we suggest a Vacant Land Loan to first get the property in your name. Following this time period you may apply for a Construction to Permanent loan.
Yes. Upon completion we will ensure that your loan is then converted to a 15 or 30-year mortgage.
The term for the construction phase is up to 1 year.
One of the benefits of our Construction to Permanent Loan is you can lock in your mortgage rate at the beginning of the construction process.
You may visit your nearest HFS office and request a packet or download the documents here. The packet contains the information and documents you’ll need to get started. If you have further questions, please call the Credit Union at (808) 930-1400 or set an appointment with a Loan Officer.
Drop us a message anytime with your questions about Construction to Permanent loans.
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