Unlock your home’s equity to fund your life’s plans

As you plan for your future, it can be comforting to know that your home can help you secure the funds you need to make those plans happen. Through a home equity loan or a home equity line of credit (HELOC), homeowners can tap into their existing equity to finance major purchases, pay off debt, and invest in their future planning goals. Whether you're looking for money to remodel your house, pay for college tuition, or start a small business venture, using the equity in your home is often easier than other financing methods.

A home equity loan is secured with your home's value and uses that value as collateral. This type of loan offers borrowers more predictable payments and fixed interest rates over a predetermined period of time. The repayment schedule is set up at the beginning so that once the loan is paid off, it won't reoccur like some credit cards and other revolving debt.

A HELOC works differently because it's like a credit card in that borrowers can access cash up to an approved limit whenever they need it. With this type of loan, borrowers will have variable interest rates and can make minimum or no payments on the loan until its maturity date.

Using your own home's equity can be a great way to fund life changes and plans without having to worry about high-interest rates or running out of money before repayment is complete. It allows homeowners to use their existing property as collateral while still maintaining ownership of their property when all payments have been completed successfully. With careful consideration and careful financial planning ahead of time, tapping into your own home’s equity could prove beneficial in funding life plans without sacrificing too much in return!

If you’re looking to take advantage of the equity in owning a property in Hawaii, consider applying for a HELOC online with Central Pacific Bank. A HELOC from CPB includes many advantages over other lenders, including no down payment, no annual fee, quick loan approvals, and up to $500 of early closing fees paid off if you move a loan to CPB!

Visit cpb.bank/HELOC and apply online today!

Learn more about CPB HELOCs

Already have a CPB HELOC? Simply login to online banking to start using your line of credit.

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