Mortgage Loan

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Up to 95% CLTV financing available with no Private Mortgage Insurance (PMI) required*

Up to 97% LTV financing available with Private Mortgage Insurance (PMI) required****

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*95% combined loan-to-value available for primary residence purchase transactions only with first mortgage of 80% of the purchase price and a second mortgage of 15% of the purchase price. The first mortgage is a conventional fixed-rate fully amortized mortgage and the second mortgage is a home equity line of credit (“HELOC”) ** with either a six-month, one-year, two-year, three-year, four-year , or five-year introductory APR followed by a monthly variable index rate.
Sample payment example: $100,000 home purchase, $5,000 down payment, $95,000 financed

Mortgage Loan Amount
Financed 
Number
of Payments 
Interest Monthly
Payments***
Total
Interest
First Mortgage $80,000 360

3.875% (2.25 points, 4.192% APR)

$376.19 $55,428.28
HELOC** 1-year introductory rate elected $15,000 12

5.25% APR 1-Year Intro Rate

$82.83 $782.46
HELOC** 1-year introductory rate elected $15,000 348 5.25% APR Current Variable Indexed Rate $82.83 $14,036.54
     
Payments first 12 months (First Mortgage and HELOC) $459.02 $3,857.07
Payments months 13 to 360 (First Mortgage and HELOC) $459.02 $66,390.21
**Borrower may elect a 95% LTV HELOC with a six-month, one-year, two-year, three-year, four-year , or five-year introductory rate, and the introductory rate will remain in effect until expiration of the introductory period elected. After the introductory period expires, your rate will vary and the applicable Current Variable Index Rate will apply. The Current Variable Index Rate is based in the Prime Rate plus a margin. Your margin will depend on creditworthiness. The Current Variable Index Rate shown is current as of 11/3/2014 and will not exceed 18% APR. Minimum APR for this 95% LTV HELOC is 5.25%. Payment examples are based on an initial draw of $15,000 upon the commencement of the HELOC. They assume that no additional credit advance is taken, only the minimum payments are made, and the Current Variable Index Rate remains constant through the years. The examples do not indicate how the APRs or minimum required payments will change in the future.
***Payments do not include amounts for taxes and insurance premiums. The actual payment obligation may be higher.
Loan approval subject to verification of down payment, acceptable appraisal and title insurance, verification of sufficient recurring income, and acceptable credit history. Quoted APR’s based on rates available on November 3, 2014 and are subject to change. Actual APR will vary depending on credit history and type of property. Property insurance and membership eligibility required.
****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.
NMLS# 405316
Federally insured by NCUA   
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