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A home equity line of credit (HELOC) is a line of credit secured by the available equity of your home (the value of your home less the amount you owe on it). Unlike a second mortgage that provides you with a one-time lump sum payment, a HELOC works more like a credit card, giving you the flexibility to use the available credit in the account any time within its draw period.

A HELOC can have a variable interest rate that fluctuates over the life of the line. Payments will vary depending on the interest rate and how much credit you have used. If you require additional cash over time, a HELOC may be a good option to consider.

TO LEARN MORE ABOUT A HOME EQUITY LINE FROM AMERICAN SAVINGS BANK,
REQUEST A FOLLOW-UP FROM ONE OF OUR LOAN OFFICERS.

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  1. Line of credit amount depends on home equity borrower's creditworthiness and occupancy.
  2. Promotion effective for requests submitted 6/1/17 through 8/31/17. The promotional rates apply to up to five Fixed Rate Equity Loan Options (FRELO) during the draw period of your HELOC; it is available to existing and to new owner-occupant EEX accounts with an advance on the line of at least the minimum loan amount and automatic payment from an American Savings Bank checking account. Based on a 7-year fixed rate loan of $30,000 at 3.50% APR, there will be 84 monthly principal and interest payments of $403.20. For 7-year terms, the minimum loan amount is $30,000 and the maximum loan amount is $250,000. Based on a 10-year fixed rate loan of $30,000 at 3.50% APR, there will be 120 monthly principal and interest payments of $296.66. For 10-year terms, the minimum loan amount is $30,000 and the maximum loan amount is $250,000. Investor rates are available. Current non-promotional rates as of 6/1/17 are 6.00% for a 7-year fixed rate loan and 6.75% for a 10-year fixed rate loan. Other FRELO terms and rates are available. FRELO may be added upon your request.
  *Offer is a one year or three year promotion (Promotion Period): annual percentage rate (APR) is 0.75% fixed for one year or 2.40% fixed for three years, from the date your new Equity ExpressSM (EEX) Home Equity Line of Credit (HELOC) account is opened. Offer is for a qualifying first or second lien request on an owner-occupant or first lien request on investor applications received 6/1/17 through 8/31/17 that fund by 9/30/17. Promotional rates require automatic payment from an American Savings Bank (ASB) Kalo Plus or Kalo Deluxe Checking account and are subject to change or discontinuance without notice. The promotional rates for non Kalo Plus or Kalo Deluxe customers are 1.00% for one year or 2.50% for three years. Automatic payment from an American Savings Bank checking account is required for this promotional rate. Cancellation of automatic payment anytime during the life of the loan may increase your rate to the non-discounted rate. Offer is not available for a second lien request on an investor line, on properties listed for sale within the prior six months, to any existing ASB HELOC account opened prior to 6/1/17 and secured by the subject property, or when paying down/off any existing ASB residential mortgage loan balance. If you have not closed your loan and a new promotion begins with a different rate, you may opt for the new promotion. After the Promotion Period ends, the interest rate is variable. Current variable rate effective 6/1/17 is 4.00% APR, and is subject to change monthly based on the highest Prime Rate published in the Wall Street Journal, plus a margin (subject to the floor rate of 4.00%; maximum APR is 18.00%). If your line amount is more than $25,000, a fee of $500 will be charged if you request we close it within three years from the agreement date. This fee will not be charged if: (i) your line is $25,000 or less, (ii) you sell the Collateral to an unrelated/unaffiliated third-party, or (iii) you payoff your loan with proceeds from a real estate secured loan from us. EEX must be secured by fee simple property located in Hawaii. Fire, hurricane, flood (if in flood hazard zone) and localized peril (if in a lava hazard zone) insurance policies are required at homeowner’s expense. For owner-occupant EEXs up to $250,000 (excluding properties listed for sale within the prior six months), ASB will pay or waive fees and costs for flood certification, bank’s title insurance (up to $125), escrow, credit report, trust review, condo review, mortgage recording, notary, recording fee for the release of third-party mortgage, and valuation through an automated valuation model and property condition report (up to $60) of ASB’s choice; however, at their own cost, customers may request an appraisal at an estimated cost between $500 and $1,200. For owner-occupant EEXs up to $250,000 (excluding properties listed for sale within the prior six months), receive a credit of up to $500 at loan closing to offset a third-party lender’s early closing fee when you make an initial advance on your new EEX to pay off your existing home equity line balance of at least $10,000 with that third-party lender. This early closing fee must be assessed and identified by the third-party lender through its payoff procedure in order to receive the credit at loan closing.  
  **The minimum to open a Kalo Plus or Kalo Deluxe Checking account is $20. For Kalo Plus, the $15 Monthly Service Fee is waived with $7,000 in combined personal monthly average deposit and/or outstanding loan balances or $2,500 in direct deposits per statement period and for Kalo Deluxe, the $25 Monthly Service Fee is waived with $30,000 in combined personal monthly average deposit and/or outstanding loan balances or $5,000 in direct deposits per statement period. Please see the Personal Deposit Account Terms and Conditions for other terms, conditions and fees.