Access your equity
Follow the instructions below to get started
Follow the instructions below to get started
You already completed this step. Click "Continue" below to continue with the application for a Home Equity Line of Credit (HELOC).
ContinueA Home Equity Line of Credit (HELOC) enables you to access money from the equity of your home when you need it. Consolidate high-interest debt, make improvements to your home, pay for college, or access cash in case of an emergency. With us you get one of the best Home Equity programs around.
1The HFS Home Equity Line of Credit introductory Annual Percentage Rate (APR) of 0.99% is good for twelve (12) months. After the 12 month introductory period, the APR will be based upon the Prime rate (index) as published in the Wall Street Journal plus a margin of .50% for loans up to 80% loan to value (LTV) or the Prime rate plus a margin of 1.50% for loans up to 100% LTV. The non-introductory fully indexed variable rate is 8.75% for loans up to 80% LTV with a maximum credit line of $300,000 and 9.75% for loans up to 100% LTV with a maximum credit line of $100,000 as of 07/01/2023. The APR may be adjusted quarterly on the first day of January, April, July and October with a maximum rate of 18%. The index value is determined as of 10 days before the date of any annual percentage rate adjustment. The current index value is 8.25% as of 07/01/2023.
2HFS FCU will pay up to $2,000 in closing costs on approved lines, however if the Equity Line is closed within 36 months of the plan opening the borrower will be responsible for reimbursing the Credit Union for all fees. Estimated closing costs will be between $0 and up to $2,000. The total term of the loan under the plan shall not exceed 20 years (including a 5 year draw period and a maximum 15 year repayment period) from the opening date. During the draw period, each time a loan advance is taken an amortization period of 240 months will be used to calculate the payment. The property that is used to secure your HFS Home Equity Line of Credit must have valid homeowners insurance including hurricane coverage and be your primary residence located in the State of Hawaii. Flood insurance is also required for properties located in a flood hazard zone. An initial deposit of $800 is required to defray initial expenses. This deposit will be refunded or applied to any closing costs in excess of $2,000 if the line is approved. This offer is available for a limited time only and is subject to change without notice. There are no annual fees.
3Maximum credit line of $300,000 for loans up 80% LTV. Maximum credit line of $100,000 for loans greater than 80% LTV up to 100% LTV. Minimum credit line of $5,000.
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 Hawai'i. A minimum opening balance of $50.00 is required to open a Savings Account.
Subject to credit approval.
But do make sure it is to reduce the debt load and not to borrow more. Pay loans down as fast as possible and use them wisely and carefully since it is borrowed money-not your money. Earn yours.
Index Rate | Margin Added to Index | Annual Percentage Rate | |
Initial Discounted Rate(1) | 0.99% APR | N/A | N/A |
Current Rate for loans up to 80% Loan to Value (2) | 8.25% APR | .50% | 8.75% APR |
Current Rate for loans up to 100% Loan to Value (2) | 8.25% APR | 1.50% | 9.75% APR |
(1) The initial discounted rate will be in effect for 12 months.
(2) The current rate that would have applied without the initial discounted rate.
Subject to credit approval. 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 Hawai'i. A minimum opening balance of $50.00 is required to open a Savings Account.
Calculate your monthly payments or see how much you can borrow.
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.
After applying online, you may visit your nearest HFS office and request a Home Equity Loan 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 up an appointment with a Loan Officer.
Drop us a message anytime with your questions about Home Equity Line of Credit (HELOC).
You are leaving the HFS Federal Credit Union website. HFS Federal Credit Union provides links to external sites for the convenience of its members. By clicking "Continue" you will be directed to an external website owned and operated by a third party. These external websites are not controlled by HFS Federal Credit Union and HFS Federal Credit Union makes no representation or warranty, express or implied, to the user concerning the information, content, presentation, accuracy or opinion of these sites or the quality, safety, or suitability of any software found on these sites. The privacy policies of HFS Federal Credit Union do not apply to external sites and users should consult the privacy policies on these sites for further information. Thank you for visiting the HFS Federal Credit Union website.