Buy a Home

* Appraisal waiver and credit details: An appraisal for a 1-unit primary residence may be waived if the valuation is accepted under the FNMA or FHLMC automated underwriting system (Desktop Underwriter or Loan Product Advisor). If the valuation is not accepted, an appraisal will be required and the appraisal fee will be waived if the loan is funded. For multi-unit, investment properties and second homes, a $500 credit will be applied towards the cost of the appraisal if the loan is funded. Non-standard fees for expedited appraisals not included and must be paid separately.

Closing cost & prepaid fee credit details: The $1,500 credit may be applied to loan closing costs (including points), settlement agent costs, recording fees, notary fees, loan-related legal fees, title insurance fees, and for certain pre-paid insurance and property taxes collected to establish an escrow impound account. The credit may not be applied to pre-pay insurance and property taxes when an escrow impound account will not be established with HSFCU, nor to pre-pay leasehold lease payments, homeowners association maintenance fees, or planned-unit development fees. For purchase transactions, seller credits, if any, must be applied toward closing costs and prepaids before the $1,500 credit may be applied toward the loan transaction costs. Any amount in excess of actual closing costs and prepaids will not be refunded or credited. The $1,500 credit will only be applied toward closing costs and prepaids on funded loans.

Required upfront application deposit: A $1,000 application deposit is required for 1-unit primary residence and second home transactions. A $1,500 deposit is required for multi-unit (2-4 units) and investment property transactions. The deposit is required before HSFCU will process the loan application. In the event of withdrawn, cancelled or denied applications, the appraisal cost will not be waived and the $1,500 credit will not be applied. Applicants will be responsible for all expenditures incurred by HSFCU. After the application deposit has been applied toward expenses, any excess will be refunded to the applicant.

Eligible transactions: Purchase or Refinance applications that are received between July 1, 2021 and on or before October 31, 2021 are eligible. Loans must fund and record no later than December 31, 2021. Offer may be cancelled prior to October 31, 2021 by HSFCU at any time without advance warning. HSFCU Membership is required; contact HSFCU to see how you may qualify for free membership. All borrowers must be Hawaii residents. This offer is good for in-house Conventional loans only. VA loans are ineligible for this offer. This offer may not be combined with discounts offered under the HSFCU employee loan program.

1. The APRs shown above include a reduction in points of 0.25 percentage point for purchase transaction first mortgages for all occupancy types for 1-4 family residential properties in the state of Hawaii for loans funded in-house by Hawaii State FCU. For refinance transactions, increase points by 0.25 percentage point and increase the APR by 0.021 percentage point for a 30-year loan and increase the APR by 0.038 percentage point for a 15-year loan.

2. Payment examples:
For a 15 year loan for $100,000 with 5% downpayment at 3.50% interest rate, no points, and an APR of 3.896%, the monthly principal and interest payment is $715. The total of all interest payments for 15 years is $28,679 and the total of all payments for 15 years $128,679. Payments do not include amounts for taxes and insurance premiums, including property and mortgage insurance premiums. The actual payment obligation will be greater.

For a 30 year loan for $100,000 with 5% downpayment at 4.25% interest rate, no points, and an APR 4.701%, the monthly principal and interest payment is $492. The total of all interest payments for 30 years is $77,098 and the total of all payments for 30 years is $177,098. Payments do not include amounts for taxes and insurance premiums, including property and mortgage insurance premiums. The actual payment obligation will be greater.

3. Click for Mortgage Combo 100 disclosure

4. All borrowers must be first-time homebuyers and not have had interest in real estate in the three previous years to be eligible. Estimated APR with a purchase price of $100,000 and a loan amount of $97,000 for 30 year term is 4.644% with monthly principal and interest payment of $456.13. Total payments for the term of the loan are estimated to be $164,206.79 with total interest for the term of the loan of $67,206.79. Actual APR will vary based on creditworthiness. APR available as of 10/1/2018 and is subject to change. Loan also requires mortgage insurance, collateral hazard insurance, hurricane insurance, flood insurance for properties in designated flood hazard zones, and HO6 walls-in condominium insurance in amounts to be determined by Hawaii State FCU. Payments do not include amounts for taxes and insurance premiums, including property and mortgage insurance premiums. The actual payment obligation will be greater. All premiums for the aforementioned insurances and property tax must be impounded and escrowed by Hawaii State FCU unless otherwise collected and paid by a homeowners’ association. Program is available for 1-unit fee-simple owner-occupied primary residences located in the state of Hawaii only. Must be a Hawaii resident. Membership in the credit union required.

5. Payment example:
For a 30 year loan for $800,000 with 20% downpayment at 4.25% interest rate, no points, and an APR 4.264%, the monthly principal and interest payment is $3,936. The total of all interest payments for 30 years is $616,787 and the total of all payments for 30 years is $1,416,787. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater.

6. Payment example:

For a 15 year loan for $100,000 with a fully financed VA funding fee** and total loan amount of $102,300 at 3.125% interest rate, 1.000% points, and an APR of 3.782%, the monthly principal and interest payment is $713. The total of all interest payments for 15 years is $25,974 and the total of all payments for 15 years $128,274. Payments do not include amounts for taxes and insurance premiums, and the actual payment obligation will be greater.

For a 30 year loan for $100,000 with a fully financed VA funding fee** and total loan amount of $102,300 at 3.375% interest rate, 0.125% points, and an APR of 3.666%, the monthly principal and interest payment is $452. The total of all interest payments for 30 years is $60,516 and the total of all payments for 30 years is $162,816. Payments do not include amounts for taxes and insurance premiums, and the actual payment obligation will be greater. NMLS# 405316

** VA funding fee may vary based on your eligibility.