Fixed-Rate Home Equity Loan
For many homeowners in Hawaii, they may have tens or even hundreds of thousands of dollars in untapped equity. Your home equity is like a savings account that grows as your existing mortgage balance goes down and your home value rises. However, you can’t touch it unless you sell your home or utilize a home equity loan program. The cash from a home equity loan could open up vast opportunities—from investing in other real estate, large renovation or construction projects, to business opportunities, debt consolidation, and even elderly care.
If you’re borrowing tens of thousands of dollars, you do not want to expose yourself to an adjustable rate that many HELOCS (home equity line of credit) have where rates can adjust up to 19%. Our Fixed-Rate Home Equity Loan offers homeowners safety and consistency. We're here to help you realize your personal vision for the future without the uncertainty of your interest rate and payments increasing.
Benefits of a Home Equity Loan
- Lower, fixed interest rate and monthly payments than other loans
- Take out cash for home renovations and repairs
- Interest may be tax deductible if the loan was used for home improvements, lowering tax liability. Check with your tax advisor for details.
- Increase the value of your home
- Cash received as a lump sum
- Consolidate debt
- Pay for college tuition
- Cover financial emergencies
- Invest in other real estate, construction projects, and business opportunities