For many Hawaii residents your home is your biggest asset. It can also provide a safety net and some peace of mind during uncertain times. A Home Equity Line of Credit (HELOC) allows you to tap into the equity in your home if either your income is disrupted or you encounter unexpected or larger expenses. American Savings Bank’s Equity Express HELOC offers a 10-year draw period and a 20-year repayment period. As a line of credit, you can draw and make payments as needed and the rates are typically lower than credit cards because they are secured by your home. The time to apply for a HELOC is when you have steady income and you don’t really need it, so it’s there for you when you do need it. Plus you can use your HELOC for projects around the house that you’ve been putting off like installing AC, fixing up your roof, or upgrading your kitchen. Or for parents of recent high school grads, you may use it to help with those added expenses as you send your kids off to college. Learn more here or talk to an ASB loan officer.

 

NMLS #423168