Sponsored by First Hawaiian Bank
“The pandemic has really caused a lot of people to think about their finances in the future,” says Nohonani Leslie, the Branch Manager at First Hawaiian Bank, Hawaii Kai. “As a result, our conversation usually ends up talking about a home equity line of credit”.
A HELOC is a revolving line of credit that can be used repeatedly. It’s secured by the equity in your property and is typically given at a much lower rate than a personal loan or line of credit. Right now, people are finding that they have much more equity than they thought due to the increase in property values. “People can use it for things like home renovation and repair,” says Leslie. “We see people use it for large purchases: so buying a car, planning family vacations. We see people using it for debt consolidation and tuition: really any personal expense”.
Sometimes the HELOC process can seem intimidating, but First Hawaiian Bank is there to walk you through every step of the way. If you’re interested in applying, please visit fhb.com/heloc or walk in and talk to any personal banker or branch manager!