HawaiiUSA Federal Credit Union has quite the selection of mortgage products, competitive rates, and even a first-time home buyers program. From Conventional mortgages, jumbo, adjustable rate loans, and interest only mortgages, all available through this Credit Union. At a quick glance, this Credit Union also has Home Equity loans, in fact, two types of Home Equity Line of Credit (HELOC) programs. With a majority of banks/credit unions we’ve reviewed, most of them do not have home equity loans, so that’s an advantage from HawaiiUSA for sure. As for the cherry on top, applicants who completes a mortgage application via online mortgage application process and gets approval, will receive a $150 dollar credit towards the closing cost of the loan.
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HawaiiUSA Federal Credit Union Summary:
- Apply Now
- Account Type: Mortgage loans
- Availability: Nationwide
- Expiration Date: None
- Additional Advise: Have the necessary documents and validation information ready to make your process as smooth as possible. You can get your loan approved in as little as three weeks.
HawaiiUSA Federal Credit Union Basic Requirements:
Here’s a quick look at the documents that you’ll need to pull together.
- Must be a United States citizen or permanent resident
- Must be a HawaiiUSA member
- Must not have owned or had any interest in a principal residence, within or outside the state of Hawaii
- Must be an owner-occupant and use subject property as your primary residence
Specific situations provide additional documentation, including:
- Income from child support or alimony.
- Self-employed borrowers.
- Borrowers owning investment properties.
- Borrowers with a previous bankruptcy.
- Divorced or separated borrowers.
HawaiiUSA Federal Credit Union Features:
- Home Equity Line of Credit Program, First-time Buyer Program, First/Second Mortgage Program
- Variety in mortgage type
- Great APR Rates
- Flexible Monthly Payments
Conclusion:
Since HawaiiUSA Federal Credit Union is primarily an online direct lender, they’re capable of offering better competitive rates than a majority of big banks out there. They also have 11 centralized branches throughout the islands, so if you’re a native, it could be an option to stop by and close a loan with them if you’re not comfortable with online mortgage processes. However, it must be said that you will not receive the $150 Credit towards closing fees if you do so. Unfortunately, it seems that they do not offer FHA or VA loans, and membership eligibility is applicable. Other then that, they are a pretty solid credit union to do mortgages with in our eyes. You can look at our other options with a compiled list of our Best Mortgage Rates for all your home-buying needs!
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