Mortgage Loan

The first step to owing your own home in Hawaii begins right here with a home mortgage loan from Hawaii State Federal Credit Union. Whether you’re a first time homebuyer looking for your first mortgage loan, or a homeowner looking to leverage your most important asset with a home equity line of credit, we’re always right by you, with a range of home loan products to suit your every need.

 


 

Conventional First Mortgage Loan

Our Conventional First Mortgage Loan is the next step after you’ve found your perfect home. Our knowledgeable loan officers will help you get the best possible mortgage rate while working to make your entire mortgage loan experience a convenient, painless affair.

  • Maximum loan amount is $625,500 or up to 95% loan-to-value ratio, whichever is less
  • Security of a fixed rate, with fixed payments each month
  • Only improved residential property in Hawaii accepted as collateral.

For the interest rates on our Conventional First Mortgage Loan, click here.


Apply Now

 

If you are not a member of Hawaii State FCU, click here to view membership eligibility requirements. If your loan application is approved, then we will contact you to join and become a member of Hawaii State FCU before processing the loan. Although no additional collateral is required all loans are secured by other collateral pledged to the Credit Union and by your shares.

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. NLMS# 405316


 

First-Time Homebuyer Program

Buying a home for the first time? Don’t worry – we’ve got your back! Thanks to the Hawaii State FCU First-Time Homebuyer Program*, purchasing your own home may be a lot easier than you imagined.

Qualified individuals and families with a limited income can purchase a home with as little as 3% down!

Additional of the First-Time Homebuyer Program include:
  • No household income cap
  • 3% minimum down payment
  • Gift funds from eligible sources may be used for all down and closing costs
  • Single-family or condominium up to $625,500

For the interest rates on our Conventional First Mortgage Loan, click here.


Apply Now

 

If you are not a member of Hawaii State FCU, click here to view membership eligibility requirements. If your loan application is approved, then we will contact you to join and become a member of Hawaii State FCU before processing the loan. Although no additional collateral is required all loans are secured by other collateral pledged to the Credit Union and by your shares.

*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 November 3, 2014 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. Membership in the credit union required. NLMS# 405316

 

Jumbo First Mortgage Loan

Interested in a home that doesn’t fit the conventional home mortgage process? Our Hawaii State FCU Jumbo First Mortgage Loan might be the answer to your needs. With competitive mortgage rates and dedicated loan officers, we help make your home purchase possible.

  • Maximum loan amount is $1,500,000 or up to 80% loan-to-value ratio, whichever is less
  • Security of a fixed rate, with fixed payments each month
  • Only improved residential property in Hawaii accepted as collateral.

For the interest rates on our Conventional First Mortgage Loan, click here.


Apply Now

 

If you are not a member of Hawaii State FCU, click here to view membership eligibility requirements. If your loan application is approved, then we will contact you to join and become a member of Hawaii State FCU before processing the loan. Although no additional collateral is required all loans are secured by other collateral pledged to the Credit Union and by your shares.
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. NLMS# 405316

 

Home Equity Line of Credit (HELOC)1

Put the equity in your home to work with our home equity line of credit - consolidate debt, take a vacation, even pay for a wedding. Hawaii State FCU offers affordable rates and flexible financing options. Better yet, the interest you pay may be tax deductible. Consult your tax advisor on deductibility in your situation. With our Home Equity Line of Credit, you enjoy:

  • 15-year draw period, 15-year repayment period

80% Loan-to-Value Home Equity Line of Credit
  • Minimum credit line of $10,000
  • Maximum credit line of the lesser of $250,000 or 80% loan-to-value minus the balance of your existing mortgage

95% Loan-to-Value Home Equity Line of Credit
  • Minimum credit line of $10,000
  • Maximum credit line of the lesser of $100,000 or 95% loan-to-value minus the balance of your existing mortgage

Jumbo Home Equity Line of Credit
  • Maximum credit line of the lesser of $500,000 or 80% loan-to-value minus the balance of your existing Hawaii State FCU mortgage, or the lesser of $400,000 or 75% loan-to-value minus the balance of another lender’s mortgage

Investor Home Equity Line of Credit
  • Minimum credit line of $10,000
  • Maximum credit line of the lesser of $200,000 or 75% loan-to-value minus the balance of your existing mortgage

Leasehold Home Equity Line of Credit
  • Minimum credit line of $10,000
  • Maximum credit line of the lesser of $200,000 or 60% loan-to-value minus the balance of your existing mortgage


For the interest rates on our Conventional First Mortgage Loan, click here.



Apply Now

 

If you are not a member of Hawaii State FCU, click here to view membership eligibility requirements. If your loan application is approved, then we will contact you to join and become a member of Hawaii State FCU before processing the loan. Although no additional collateral is required all loans are secured by other collateral pledged to the Credit Union and by your shares.
1. Only improved residential property in Hawaii is accepted as collateral. Property insurance is required. Membership in the credit union is required. The credit union waives closing costs for certain third party fees (e.g. real estate evaluation, recordation, documentation, title insurance, escrow, flood determination), estimated between $900 to $2,500 for line amounts up to $250,000.  You will be required to pay other closing costs involving trust review, other legal documentation, or appraisal cost, estimated at $250 to $1,950.  For line amounts greater than $250,000, the credit union waives closing costs for certain third party fees (e.g. recordation, documentation, escrow, flood determination) estimated between $75 and $600.  You will be required to pay other closing costs for appraisal, title insurance, trust review, or other legal documentation estimated between $1,300 and $3,000. The borrower is required to reimburse the credit union for all waived fees if the credit line account is paid off and closed within three (3) years of its opening.
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