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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 02/15/2022
0.99% APR* Fixed for 1 Year 90.00% 5.00% APR*
2.50% APR* Fixed for 3 Years 90.00% 5.00% APR*
3.50% APR* Fixed for 5 Years 90.00% 5.00% APR*


For more information, please call 808.935.6665

*APR=Annual Percentage Rate.

The minimum credit line is $10,000 and the maximum credit line is $300,000. Maximum Loan to value (LTV) is 90% (Appraised value or County of Hawaii Real Property Tax Assessment) or the lesser of $300,000 minus the balance of your existing mortgage.

The 1-year, 3-year, and 5-year (the “Introductory Rate Period”) HELOC Introductory Rates of .99%, 2.50% and 3.50%, respectively (the “Introductory Rate”), are valid for applications that are received from August 1, 2022 (that are subsequently approved) and may change at any time without notice. After the Introductory Rate Period expires, your rate will vary and the applicable Current Variable Index Rate will apply. This offer applies to new Home Equity Lines of Credit. If you elect the 1-year, 3-year, or 5-year Introductory Rate Period, it will remain in effect until expiration of the Introductory Rate Period.

The Current Variable Index Rate is based on the 3-month Treasury Bill Rate plus a margin not to exceed 4.50%, rounded up to the next 0.25%, adjusted each April and October with a minimum (floor) 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 $10,000 must be made to receive the discounted introductory rate and $500 for each subsequent advance. Payments will never be less than the smaller of $200.00, or the full amount you owe.

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 homeowner’s 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.

As 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 of its opening. 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.

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 HELOC loans. Additional restrictions apply. Member must be a Hawaii resident, must qualify under Big Island FCU’s membership and lending guidelines, and must be a member in good standing with Big Island FCU. All applications are subject to credit approval. A non-refundable $1.00 fee is required to establish membership. A minimum $50.00 is required to open a Savings Account.