Page 28 - MidWeek - Feb 17, 2021

28 MIDWEEK February 17, 2021
A better place to bank, might not be a bank.
HOME EQUITY LINE OF CREDIT
1-year Intro Rate 2-year Intro Rate 3-year Intro Rate
Current Variable Index Rate
Jumbo Current Variable Index Rate
0.75% APR* 1.49% APR* 1.99% APR*
3.75% APR**
up to $250,000 credit line
4.25% APR**
up to $500,000 credit line
Fixed-Rate Lock Option
3, 5, 7, 10, 15 and 20-year terms***
For more information call (808) 587-2700
www.HawaiiStateFCU.com/heloc
*The 1-year, 2-year, and 3-year HELOC introductory rate valid for applications received commencing 1/1/2021 and may change at any time without notice. These introductory rates are available based on your credit history. An initial draw of at least $5,000 and automatic payments from a HSFCU checking account are required. Speak to a credit union representative to see if you qualify. Otherwise the applicable Current Variable Index Rate will apply. After the introductory period expires, your rate will vary and the applicable Current Variable Index Rate will apply. This introductory rate offer applies to new Home Equity Lines of Credit. Refinancing of existing HSFCU Home Equity Lines of Credit are not allowed. If you elect the 1-year, 2-year, or 3-year introductory rate, it will remain in effect until expiration of the introductory rate period. For lines up to $250,000, offer applies to fee simple, primary residence or second home properties for applicants with a FICO credit score of 630 or greater. For lines over $250,000, offer applies to fee simple primary residence only in subordinate lien position only.
**The Current Variable Index Rate is based on the Prime Rate plus a margin. Your margin will depend on creditworthiness and the line of credit amount. Ask us about rate limitations. The Current Variable Index Rate shown is current as of 1/1/2021 and will not exceed 18% APR. The Current Variable Index Rate has a minimum 3.75% APR for 80% Loan-to-Value (LTV) fee simple, primary residences and second homes up to $250,000 line amount. The
Current Variable Index Rate has a minimum 4.25% APR for 80% Loan-to-Value (LTV) fee simple, primary residences for line amounts greater than $250,000. There is no transaction or other activity charge. Lines of credit for higher Loan-To-Value are available at different rates and terms. Inquire for rates and terms details.
The minimum credit line is $20,000 and the maximum credit line is 80% LTV minus the balance of your existing mortgage for primary residences and second homes up to $250,000 line amounts. For lines of credit greater than $250,000 and when the first mortgage is secured by Hawaii State FCU, the maximum credit line is of 80% LTV minus the balance of your existing mortgage for primary residences up to $500,000 line amounts. For lines of credit greater than $250,000 and when the first mortgage is secured by another financial institution, the maximum credit line is 75% LTV minus the balance of your existing mortgage for primary residences up to $400,000 line amounts. Lines of credit for higher Loan-To-Value are available at different rates and terms. Inquire for rates and terms details.
Only improved residential property in Hawaii is accepted as collateral. Property insurance is required. Membership in the credit union is required. The credit union waives closing costs for certain third party fees (e.g. real estate evaluation, recordation, documentation, title insurance, escrow, flood determination), estimated between $260 to
$2,000 for line amounts up to $250,000. You will be required to pay other closing costs involving trust review, other legal documentation, or appraisal cost, estimated at $250 to $1,950. For line amounts greater than $250,000, the credit union waives closing costs for certain third party fees (e.g. recordation, documentation, escrow, flood determination) estimated between $50 and $600. You will be required to pay other closing costs for appraisal, title insurance, trust review, or other legal documentation estimated between $1,600 and $3,800. The borrower is required to reimburse the credit union for all waived fees if the credit line account is paid off and closed within three (3) years of its opening.
Rates, terms and conditions are subject to change without notice. Other terms and conditions apply. Speak to a credit union representative for more information. Available to Hawaii residents only. Credit union membership required. Contact us for eligibility.
***The fixed-rate option is available for applicants with FICO scores of 630 and above and for amounts up to $250,000. Speak to a representative for more details.
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