Leverage Your Home's Equity to Secure Your Financial Future

Rates current as of: July 4, 2025

(1) The 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 8.00% for loans up to 80% LTV with a maximum credit line of $500,000 and 9.00% for loans up to 100% LTV with a maximum credit line of $100,000 as of 1/01/2025. 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 7.50% as of 1/01/2025.
(2) The current rate that would have applied without the initial discounted rate. Minimum credit line of $5,000.

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.

A HELOC (Home Equity Line of Credit) differs from a traditional loan in that it provides a revolving line of credit rather than a lump sum. You can borrow against it as needed, similar to a credit card, and you only pay interest on what you actually borrow. Traditional loans provide a one-time lump sum with fixed monthly payments.

The HELOC application process typically involves several steps: submitting an application with personal and financial information, providing documentation of your income and home value, getting your home appraised, and undergoing a credit check. The process usually takes 2-4 weeks from application to funding.

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.

Prepayment penalties vary by lender and the specific terms of your HELOC. Some lenders may charge a fee if you close your HELOC within a certain period (usually 3-5 years), while others have no prepayment penalties. It’s important to review your agreement carefully and discuss these terms with your lender.