The Benefits of Home Equity Financing | Hawaii State FCU

What many Hawaii homeowners don’t realize is that they can use the equity in their home to secure financing options that can save them significant amounts in interest and provide fixed payment options to make budgeting easier. 🏠💰

While planning ahead for major expenses can be daunting it doesn’t have to be complicated many hawaii homeowners don’t realize that they can use the equity in their home to secure financing options we caught up with our friends at hawaii state fcu to talk about the benefits of home equity home equity line of credit is a line of credit secured by the equity in a

Home that you own that could be a single family detached or could be a condominium at hawaii state federal credit union we offer lines of credit secured by up to 95 percent of the value of your primary residence and we also offer lines of credit secured by second homes and investment properties which a lot of other lenders will not do the benefit of home equity

Line of credit is that you have instant access to funds for an emergency for a major purchase for a home remodel at some of the lowest interest rates possible one thing that’s particularly good about our line of credit is the very low fully indexed rate so everybody advertises what’s called their teaser rate their introductory rate what you really need to do

When you’re shopping for a home equity line of credit is look at what’s called the fully indexed rate that’s the interest rate that you’re going to pay in the long run on those balances on the home equity line of credit and our fully indexed rates are probably the lowest you can find in the market you got to look beyond that first 24 months beyond that first 36

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Months what are you gonna pay in the long run on those balances and that’s where we shine if you have credit card balances and you have equity in your property you’re probably losing money you could transfer those credit card balances over to a home equity line of credit pay less interest and save yourself some money today a lot of people with a stay at home are

Realizing they want to do some major remodeling or home improvement to their properties and this is the best way to finance those without doing a refinance of your first mortgage altogether there’s a lot of costs involved in refinancing your first mortgage whereas to set up a line of credit usually all those upfront costs are deferred or waived altogether if you

Keep your line of credit open with us for first three years hawaii state federal credit union we have a very flexible line of credit and the flexible part is that we will let you convert part or all of your line of credit balance into a fixed installment loan with a fixed term and a fixed interest rate be customized to meet your financial goals exactly how many

Payments it will take exactly how much interest you’re going to pay and exactly when you’ll have it paid off we don’t just offer home equity lines of credit we offer first mortgages for purchase or refinance we offer automobile loans for purchase or refinance and then we also offer in conjunction with some of the photovoltaic solar panel installers special loan

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Program for more information about home equity lines of credit with hawaii state federal credit union or any of our loans you can go to hawaiistatefcu.com you can schedule an appointment to meet with someone in our branches brought to you by hawaii state fcu

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The Benefits of Home Equity Financing | Hawaii State FCU By Hawaii State FCU