Home Improvement Financing For




Use your home’s equity to finance your home renovation project with American Floor and Home

Home Equity Line of Credit (HELOC)

Current Promotional Annual Percentage Rate

4.50% APR1

Fixed for 5 years

Current Variable Annual Percentage Rate

7.00% APR1

As of 12/01/2022, subject to the
floor rate of 4.50% APR

Plus, 30-Day Ready-to-Sign2

For completed applications, we’ll have your loan documents ready to sign within 30 days,2
so you can start achieving your dreams – sooner than later!


Download Application  |  Consumer Loan Fee Schedule


Application Steps


Apply for an ASB HELOC by clicking the Apply Now link and entering your information (you will want to apply jointly with all owners of your property).


Once you have applied, our dedicated bankers at the McCully Branch or  the Salt Lake Shopping Center Branch are ready to assist you. They will connect with you, explain the process and review the documents needed for your application. You may contact them directly at McCullyBanker@asbhawaii.com or SaltLakeBanker@asbhawaii.com.


You will be notified of the decision by your banker, any pending conditions and any additional required documentation.


If your HELOC is approved, your banker will schedule a time and location to sign your HELOC documents.


At signing, you will be able to transfer funds from your HELOC to your ASB personal checking account — if you do not already have an ASB personal checking account, your banker will help you open one.

Product Features & Benefits

  • No closing costs3

  • Get up to $500 to switch from another financial institution4

  • Lines of credit available up to $1,000,0005

  • $50 annual fee waived with automatic payments from your ASB Kalo DeluxeSM Checking or Private Banking Checking account6

  • Access your HELOC by EquityExpressSM Visa® card, checks, Online Banking transfers, or by visiting a branch

  • Lock in a fixed rate with our Fixed Rate Equity Loan Option (FRELO)

Fixed Rate Equity Loan Option

Once you have a HELOC, you can convert (minimum $10,000) all or a portion of your outstanding principal balance to a fixed rate.

Current Promotional Rate

5.50% APR7

Fixed for 15 years


5.75% APR7

Fixed for 20 years

Current Non-promotional Rate (As of 12/01/2022)

8.75% APR

Fixed for 15 years


9.25% APR

Fixed for 20 years

Product Features & Benefits

  • HELOCs have up to 5 FRELOs available to draw at any time during its draw period; the FRELO maturity date must not go past the HELOC maturity date

  • Loan terms from 3 years to 20 years with predictable fixed monthly payments for the life of the FRELO

  • As you repay your FRELO, your line of credit is replenished during the draw period

  • Sign the FRELO Addendum to lock in your fixed rate

  • FRELO non-promotional rates

  • No fee to convert to FRELO

Common Questions:

  1. Offer is a five-year promotion (Promotion Period): Annual Percentage Rate (APR) is 4.50% fixed for five years, from the date your new EEX account is opened. Offer is for a qualifying first or second lien request on an owner-occupant or an investor application received 11/20/2022 through 12/04/2022 that funds by 01/04/2023. Promotional rates require automatic payments from an ASB personal checking account. If you do not have an ASB personal checking account, a Kalo Checking account must be opened. Please see the Personal Deposit Account Terms and Conditions for other terms, conditions and fees for Kalo Checking accounts. Cancellation of automatic payments anytime during the life of the loan may increase your rate to the current non-discounted rate. Offer is not available for properties listed for sale during the prior six months or to an ASB HELOC account secured by the subject property that was closed during the prior six months. If you have not signed your loan documents and a new promotion begins with a different rate, you may opt for the new promotion. After the Promotion Period ends, the interest rate is variable. Current Variable Rate effective 12/01/2022 is 7.00% APR, and is subject to change monthly based on the highest Prime Rate published in the Wall Street Journal, plus a margin (subject to the floor rate of 4.50% APR; maximum APR is 18.00%). If your line amount is more than $25,000, a fee of $500 will be assessed if you request we close it within three years from the agreement date. This fee will not be assessed if: (i) your line is $25,000 or less, (ii) you sell the collateral to an unrelated/unaffiliated third-party, or (iii) you pay off your loan with proceeds from a real estate secured loan from us. EEX must be secured by fee simple property located in Hawaii. Fire, hurricane, flood (if in flood hazard zone) and localized peril (if in a lava hazard zone) insurance policies are required at homeowner’s expense.
  2. ASB will process your application, and if approved, have the loan documents ready to schedule your signing appointment within 30 calendar days of receiving the completed application with all necessary documentation. This is available to all subject properties located in the state of Hawaii, and does not apply to the following: 1) applications for lines greater than $400,000; 2) applications that require an appraisal; 3) applications made simultaneously with an application for a residential first mortgage loan; or 4) application delays relating to title, trust, insurance, and property condition reports. Effective for applications received 11/20/2022 through 12/04/2022.
  3. For Equity ExpressSM (EEX) Home Equity Line of Credit (HELOC) accounts up to $400,000 (excluding properties listed for sale within the prior six months), American Savings Bank (ASB) will pay or waive fees and costs for flood certification (up to $9), bank’s title insurance (up to $125), credit report (up to $2.50 per borrower), trust review, condo review, mortgage recording, recording fee for the release of third-party mortgage, and valuation through an automated valuation model and property condition report (up to $185) of ASB’s choice; however, at their own cost, customers may request an appraisal at an estimated cost between $500 and $1,500.
  4. For owner-occupant EEXs up to $400,000 (excluding properties listed for sale within the prior six months), receive a credit of up to $500 at loan signing to offset a third-party lender’s early closing fee when you make an initial advance on your new EEX to pay off your existing home equity line balance of at least $10,000 with that third-party lender. This early closing fee must be assessed and identified by the third-party lender through its payoff procedure in order to receive the credit at loan closing.
  5. Line of credit amount depends on home equity borrower’s creditworthiness and occupancy.
  6. You will be assessed a $50 annual fee on your first periodic statement and annually thereafter during the draw period. The annual fee may be waived by setting up automatic payments from an ASB Kalo DeluxeSM Checking or Private Banking Checking account at loan signing. If you do not have an ASB Kalo DeluxeSM Checking or Private Banking Checking account, one must be opened. Please see the Personal Deposit Account Terms and Conditions for other terms, conditions and fees. Cancellation of automatic payments from the Kalo Deluxe Checking or Private Banking Checking account anytime during the draw period may cancel the annual fee waiver and the fee will be assessed annually thereafter.
  7. Promotion effective for requests submitted 11/20/2022 through 12/04/2022. The promotional rate applies up to five Fixed Rate Equity Loan Options (FRELO) during the draw period of your HELOC; and is available to existing and new owner-occupant or investor EEX accounts with automatic payments from an ASB personal checking account. See the FRELO Conversion Addendum for minimum and maximum amounts for conversion to a FRELO. Based on a 15-year fixed rate loan of $10,000 at 5.50% APR, there will be 180 monthly principal and interest payments of $81.71. Current non-promotional rate as of 12/01/2022 is 8.75% APR for a 15-year fixed rate loan. Other FRELO terms and rates are available. FRELO may be added upon your request.