Maturing HELOC Options

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Our maturing HELOC options are for HELOC accounts with outstanding balance, accrued interest and unpaid charges due at maturity – reviewing your options today can help reduce the stress of trying to find new financing to pay off your HELOC at maturity.

See the chart below to compare your options:

  1. Subject to loan application and qualification meeting American Savings Bank’s underwriting and credit policy.

    Offer is a two year, three year, or four year promotion (Promotion Period): Annual Percentage Rate (APR) is 1.75% fixed for two years, 2.75% fixed for three years, or 3.75% fixed for four years, from the date your new Equity ExpressSM (EEX) Home Equity Line of Credit (HELOC) account is opened. Offer is for a qualifying first or second lien request on an owner-occupant or first lien request on investor applications received 11/1/18 through 1/31/19 that fund by 2/28/19. Promotional rates require automatic payment from an American Savings Bank (ASB) Kalo Plus or Kalo Deluxe Checking account and are subject to change or discontinuance without notice. The promotional rates for non Kalo Plus or Kalo Deluxe customers are 2.00% for two years, 3.00% for three years, or 4.00% for four years. Automatic payment from an American Savings Bank checking account is required for this promotional rate. Cancellation of automatic payment anytime during the life of the loan may increase your rate to the non-discounted rate. Offer is not available for a second lien request on an investor line, on properties listed for sale within the prior six months, to any existing ASB HELOC account opened prior to 11/1/18 and secured by the subject property, or when paying down/off any existing ASB residential mortgage loan balance. If you have not closed your loan 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 10/15/18 is 5.25% 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%; maximum APR is 18.00%). If your line amount is more than $25,000, a fee of $500 will be charged if you request we close it within three years from the agreement date. This fee will not be charged if: (i) your line is $25,000 or less, (ii) you sell the Collateral to an unrelated/unaffiliated third-party, or (iii) you payoff 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.

    For owner-occupant EEXs up to $250,000 (excluding properties listed for sale within the prior six months), ASB will pay or waive fees and costs for flood certification (up to $9), bank’s title insurance (up to $125), escrow services (up to $125), credit report (up to $2.50 per borrower), trust review, condo review, mortgage recording, notary, recording fee for the release of third-party mortgage, and valuation through an automated valuation model and property condition report (up to $74.50) of ASB’s choice; however, at their own cost, customers may request an appraisal at an estimated cost between $500 and $1,500. For owner-occupant EEXs up to $250,000 (excluding properties listed for sale within the prior six months), receive a credit of up to $500 at loan closing 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.

  2. Subject to loan application and qualification meeting American Savings Bank’s underwriting and credit policy. For the Refinance EEX the current variable rate effective 10/15/18 is 6.75% 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 5.00%; maximum APR is 18.00%). If your line amount is more than $25,000, a fee of $500 will be charged if you request we close it within three (3) years from the agreement date. This fee will not be charged if: (i) your line is $25,000 or less, (ii) you sell your home, or (iii) in the event of an American Savings Bank refinance. Refinance 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.

    For owner-occupant EEXs up to $250,000 (excluding properties listed for sale within the prior six months), ASB will pay or waive fees and costs for flood certification (up to $9), bank’s title insurance (up to $125), escrow services (up to $125), credit report (up to $2.50 per borrower), trust review, condo review, mortgage recording, notary, recording fee for the release of third-party mortgage, and valuation through an automated valuation model and property condition report (up to $74.50) of ASB’s choice; however, at their own cost, customers may request an appraisal at an estimated cost between $500 and $1,500.

  3. Based on a 20-year fixed rate loan of $50,000 at 3.75% APR, there will be 240 monthly principal and interest payments of $296.44. The maximum loan amount is $250,000. The promotional rate applies to up to five (5) Fixed Rate Equity Loan Options (FRELO) during the draw period of your HELOC, must be requested and executed at time of loan closing, are available to existing and new owner-occupant EEX accounts with an advance on the line of at least the minimum loan amount; and automatic payment from an American Savings Bank checking account. Investor rates are available. Current non-promotional rate as of 8/1/18 is 8.00% for a 20-year fixed rate loan. Promotional rate is subject to change without prior notice. Other FRELO terms and rates are available and may be added upon your request, provided that you and all named borrowers on the Equity Express account execute the Equity Express with Fixed Rate Equity Loan Options Addendum to the Equity Express Credit Agreement.