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Bank of Hawaii loans on sale, Oh My!

Boy, when it rains, it pours!  So much news to share, 3 posts in one day!

Just in from my absolute favorite banker, Israel Avilla over at the Kahala Bank of Hawaii:

Home Equity Lines at 1.00% for 12 months or 1.75% for 24 months.  Some of the criteria include that you must have a Bankohana Level II or Level III with us in order to qualify for this promo.  Anything below $250,000 does not require an appraisal and if the individual is not self employed, we do not need to collect financials if the request is under $75,000.

This is a GREAT deal, and it sounds easy – finally!

Prior to, Bank of Hawaii made borrowing very difficult – so many hoops to go through and a long dragged out process that had us wringing our hands and wanting to give up.

If your home has a lot of equity in it, use it, or at least have a Equity Line of Credit set up in advance just in case you do decide to invest or spend wisely on a necessity.  These loans usually have very low (if any) fees, especially with no appraisal!

Also, if your home is totally paid off and unencumbered with a mortgage, you could be a luscious target for lawsuit hungry dirt bags that will sue you if they trip and fall on your property.  Having a HELOC (Home Equity Line of Credit) is reflected on your record of ownership EVEN if you are not drawing on it at all.  It just looks like you have a loan, and thus, less equity for the dirt bags to win.

Anywho, my favorite “nephew” banker’s contact info is:  Israel Avilla at the Waialae Kahala branch of Bank of Hawaii, phone (808) 694-7471, or email Israel.Avilla@boh.com.  Tell him “Aunty” sent you, so Aunty gets brownie points, and lunch!

 

Aunty's favorite local banker!

Aunty’s favorite local banker!

About The Author

Aunty is a new senior citizen and loving this phase of her life. Less responsibilities, less fear of being weird, able to do more of the things that I want to do! Older, yes, slower, yes, but life is even more wonderful in my golden years and I look forward to even goldener ones.

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