Understand the Loan Process - Learn what to expect in a loan pre-qualification and see what happens once you have started the loan application process.

Participating Lender in New Development Projects - Communities throughout Hawaii are developing and growing with exciting high-rise condominiums in the urban landscape as well as startup townhouses and family homes in new and existing subdivisions. American Savings Bank is pleased to be a participating lender for many of these real estate development.

Mortgage Glossary - Need a reminder on mortgage lingo? Use the handy glossary to learn more.



  1. The Combined First Mortgage and Piggyback HELOC Program is a residential loan program through American Savings Bank (ASB) with an owner-occupant residential first mortgage loan amount up to $1,750,000 (the maximum loan-to-value (LTV) is 80% for loan amounts up to $1,250,000 and 75% above $1,250,000 and up to $1,750,000). A simultaneous ASB Equity Express (EEX) Home Equity Line of Credit (HELOC) 2nd mortgage up to $500,000 is combined with the first mortgage with a maximum combined LTV (CLTV) of 90% and maximum combined loan amount of $2,000,000.
  2. There are two monthly payments for this financing program. For example, based on a purchase price of $2,200,000, the first mortgage amount would be $1,650,000 (75% LTV) and the HELOC is $330,000 (CLTV 90%); down payment is $220,000. The monthly principal and interest payment for the first mortgage is $10,839.33 as of 3/18/2024, the interest rate is 6.875% and 1.125 points/7.030% Annual Percentage Rate (APR). The actual monthly mortgage payment is higher when you factor in the monthly impound amount for property tax, hazard insurance and other applicable impounds. Assuming the HELOC is fixed with a 20-year FRELO, the APR as of 3/18/2024 is 9.00 % and the monthly payment is $2,969.10 for an owner-occupant. Other FRELO terms and rates are available. FRELO may be added upon your request. See the FRELO Conversion Addendum for minimum and maximum amounts for conversion to a FRELO.
  3. If the borrower does not choose the FRELO option, the HELOC is interest-only based on the monthly variable rate and the outstanding principal (no principal amount is reduced unless there are additional payments made by the borrower each month; no prepayment penalty during the draw period for 120 months). After 120 months, the line of credit draw period ends (i.e., no further draws is allowed on the line), and the repayment period begins for 240 months. The monthly payment in the repayment period is principal plus interest based on 1/240th of the outstanding principal on the first day of the repayment period plus accrued interest. 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. HELOC 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. Payments do not include taxes or insurance premiums; your actual payment will be greater. Subject to borrower qualification and credit and underwriting policy. Program subject to change or cancellation without notice.