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Big Island FCU
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Home Equity Line of Credit

Tap into your home's value with a home equity line of credit

Your home is an asset that can help you reach other financial goals.  If you've got equity in your home, you could qualify for a Home Equity Line of Credit.  You could use that line of credit for things like home improvements, debt consolidation, vacation, college tuition and more.



based on the current fully indexed
variable rate as of 04/01/2020
3.00% APR*¹ 80.00% 5.25% APR*
4.00% APR*¹ 90.00% 6.25% APR*


For more information, please call 808.935.6665

*APR=Annual Percentage Rate

¹As a benefit to our members, Big Island Federal Credit Union will waive certain third party closing costs, up to $1,500, unless the Home Equity Line of Credit is terminated within 24 months. If an appraisal is required, you must pay the appraisal fee at pre-approval, estimated between $450 and $750. If the property is held in trust, you must pay the trust review fee upon pre-approval, estimated between $250 and $550.


The Big Island Federal Credit Union Home Equity Line of Credit introductory Annual Percentage Rate (APR) of 3.00% with 80% loan to value or 4.00% with 80.01% to 90.00% loan to value is fixed for 36 months and is available for creditworthy borrowers on equity lines, up to a maximum of $250,000. After the 36-month introductory period, the APR will vary and will be based upon the 3-month Treasury Bill rate plus a margin of 3.50% for 80% loan to value and 4.50% for 80.01% to 90.00% loan to value, rounded up to the next 0.25%, adjusted each April and October with a minimum rate of 4.50% and a maximum rate of 18.00%. After the initial adjustment, the rate will not increase or decrease by more than 2.00 percentage points at each adjustment. A minimum initial credit advance of $25,000 must be made to receive the discounted introductory rate and $500 for each subsequent advance.


Qualified borrowers will have a 5-year draw period and the loan repayment will be amortized over a 20-year period. The property that is used to secure your Big Island Federal Credit Union Home Equity Line of Credit must be your primary residence. The Credit Union will accept first and second mortgage trust deeds in fee simple estates on one-to-four family dwellings on the island of Hawaii. You must maintain valid homeowners insurance including hurricane coverage. Flood insurance is also required for properties located in a flood hazard zone. The property must not be located in lava zone 1 or 2.


This offer is available for a limited time only and is subject to change without notice. There are no annual fees. This offer does not apply to refinanced BIFCU loans. Additional restrictions apply. Membership in Big Island Federal Credit Union is open to anyone who resides, works, attends school, or worships on the Island of Hawaii. Credit is subject to approval, not all applicants will qualify.