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Hawaii Home Equity Line of Credit – HELOC | Central Pacific Bank

Hawaii Home Equity Line of Credit – HELOC | Central Pacific Bank


Use the available equity in your home to consolidate high-interest debt, complete a home repair or remodel, and more. With a HELOC, you can draw against available credit, while continuing to make monthly payments. Since interest doesn’t accrue until the loan is initiated, have peace of mind knowing that cash is available when you need it.

View our HELOC flyer.

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Benefits

  • Competitive introductory rates and fixed rate loan options available1
  • No down payment
  • No annual fee
  • Quick loan approval process
  • Easy automatic payments from your Central Pacific Bank Exceptional Checking Account

Fixed Rate Loan Option

If you prefer predictable monthly payments, request a Fixed Rate Loan Option. This allows you to lock in a fixed interest rate for a set amount of time to a portion of your HELOC balance, taken during the draw period. As you pay back your Fixed Rate Loan Option, your HELOC line is replenished.

  • 10 year and 25 year options available
  • No fee to enjoy the Fixed Rate Loan Option
  • Minimum draw for fixed rate is $10,000, up to your available credit limit

Introductory Fixed Rates
2-Year 1.49% APR1 For owner occupant with automatic payments from CPB personal Exceptional Checking Account2
3-Year 1.99% APR1 For owner occupant with automatic payments from CPB personal Exceptional Checking Account2
4-Year 2.49% APR1 For owner occupant with automatic payments from CPB personal Exceptional Checking Account2
5-Year 3.25% APR1 For owner occupant with automatic payments from CPB personal Exceptional Checking Account2
Introductory Fixed Rates
2-Year
3-Year
4-Year
5-Year
Current Variable Rate
4.50% APR1 Based on a current index and margin as of 1/4/2021
Current Variable Rate

1. Discounted Introductory Fixed Rates of 1.49%, 1.99%, 2.49% and 3.25% Annual Percentage Rate (APR) available as you may select for two, three, four or five years, respectively for approved applications received between 1/16/2021 –5/14/2021 and must fund by 7/2/2021. After the initial fixed rate period, rates are variable and the APR is subject to change monthly based on the Prime Rate published in the Wall Street Journal, plus a margin; margin is based on your credit history and bank relationship. Undiscounted APR for Owner Occupant property is currently 4.50% as of 1/4/2021. Investor and Second Home margin is 0.50% higher. Discounted rate and margin is 0.50% higher for home equity lines of credit with maximum total loan-to-value of 90% that simultaneously closes with a qualified Home Loans Division first mortgage loan. Minimum APR after the fixed rate period will be 4.50%. Maximum APR is 18.00%. Discounted Fixed Rates require minimum monthly payment automatically debited from a Central Pacific Bank personal Exceptional Checking Account. After the introductory rate period, or if the automatic debit is cancelled or the personal Exceptional Checking Account is closed, the rate will change to a variable rate as described in the Important Terms of Our Home Equity Line of Credit; ask us for a copy. A Central Pacific Bank Home Equity Line of Credit account holder with an account opening date after January 17, 2011 (including both existing accounts and accounts closed within six months after the Bank received a new Home Equity Line of Credit application) that has already received a promotional rate is not eligible for this offer.

2. Click here for more information regarding Exceptional Checking account requirements. For other terms, conditions and fees, please refer to the Deposit Account Agreement and Disclosure, and Rate and Fee Schedule for Exceptional Checking.

 

CPB