Unlock Your Home’s Equity. On Your Terms.
Whether you’re renovating your kitchen, consolidating debt, covering tuition, or preparing for the unexpected, a Home Equity Line of Credit (HELOC) from Valley Isle Community FCU gives you flexible access to funds—without the hassle of a traditional loan. Borrow what you need, when you need it, and only pay interest on what you use.
Find the Right HELOC for Your Property
Home Equity Line of Credit
For Primary, Owner-Occupied Homes
Up to $400,000 (1st lien) | Up to $250,000 (2nd lien)
Access up to 90% of your home’s combined loan-to-value with a credit line built for owner-occupied Hawaii properties.
- 10-Year Draw Period
- 20-Year Repayment Term
- Up to 90% CLTV (Tax Assessed Value/AVM)
- Certain Closing Costs Waived by VICFCU*
- No Limit on Number of Draws
- Fixed Introductory Rate Options Available
Investment Property HELOC
Non-Owner-Occupied & Second Homes — 75% CLTV or Less
Up to $250,000
Our highest investment property credit line, available when your combined loan-to-value is 75% or less.
- 7-Year Draw Period
- 15-Year Repayment Term
- Up to 75% CLTV (Tax Assessed Value/AVM)
- No Limit on Number of Draws
- Fixed Introductory Rate Options Available
Investment Property HELOC
Non-Owner-Occupied & Second Homes — Over 75% CLTV
Up to $50,000
Still access your equity when your combined loan-to-value runs higher, up to 90% of appraised value.
- 7-Year Draw Period
- 15-Year Repayment Term
- Up to 90% LTV of Appraised Value
- No Limit on Number of Draws
- Fixed Introductory Rate Options Available
Minimum loan amount is $20,000 across all HELOC programs, with a $3,000 minimum initial advance and $500 minimum subsequent advance. Investment property maximum loan amount depends on your combined loan-to-value (CLTV) at the time of application. Rates, terms, and eligibility vary by property type, occupancy, and CLTV. See disclosures below for full details.
Why Choose a VICFCU HELOC?
- We pay the majority of closing costs on owner-occupied HELOCs, including recording, title insurance, document preparation, and more*
- Pay interest only on what you draw—not your full credit limit
- Fixed introductory rate options available—choose a 1, 2, or 3-year fixed rate before your rate converts to variable
- Interest may be tax deductible when funds are used to improve your home—always confirm with your tax advisor
- Fast approval and easy access to funds, in person or online
How a Home Equity Line of Credit Works
A HELOC functions like a revolving credit line secured by your home. During your draw period, you withdraw funds as needed—there’s no limit on the number of draws—and pay interest only on the amount you’ve borrowed. Once your draw period ends, your outstanding balance converts to a repayment term, giving you a clear path to paying down what you’ve used.
What You’ll Need to Qualify
- All owners on title must be VICFCU members
- Improved property must be located in the State of Hawaii
Not Sure Which HELOC Is Right for You?
If your property is a rental, second home, or otherwise non-owner-occupied, our Investment Property HELOC is built for that. If you need a fixed lump sum instead of a revolving line, our loan Officers can also walk you through mortgage refinancing or personal loan options.
Frequently Asked Questions
How much can I borrow with a HELOC?
For owner-occupied properties, you can borrow up to $400,000 if VICFCU holds the 1st lien position, or up to $250,000 in 2nd lien position, with combined loan-to-value up to 90%. For investment properties, your maximum loan amount depends on your combined loan-to-value (CLTV): up to $250,000 if your CLTV is 75% or less, or up to $50,000 if your CLTV is over 75%. Minimum loan amount is $20,000 across all HELOC programs.
What’s the difference between the Standard HELOC and the Investment Property HELOC?
The Standard HELOC is for primary, owner-occupied homes and offers a 10-year draw period with a 20-year repayment term. The Investment Property HELOC is for rental or non-owner-occupied second homes and offers a 7-year draw period with a 15-year repayment term. Owner-occupied HELOCs also come with the majority of closing costs waived by VICFCU, while investment property HELOC borrowers cover closing costs.
Is HELOC interest tax deductible?
In many cases, interest on a HELOC may be tax deductible if the funds are used to buy, build, or substantially improve the home securing the loan. Tax situations vary, so we recommend speaking with a qualified tax advisor to confirm how this applies to you.
What’s the difference between a HELOC and a home equity loan?
A home equity loan provides a lump sum upfront with fixed payments, while a HELOC works like a revolving credit line—you draw funds as needed, with no limit on the number of draws, and only pay interest on what you use.
Are closing costs covered?
For owner-occupied HELOCs, VICFCU waives the majority of closing costs, including recording fees, title insurance, document preparation, and more, with the exception of the appraisal fee if one is required. For investment property HELOCs, closing costs are the borrower’s responsibility.
How does the interest rate work?
HELOC rates are variable and adjust semi-annually in January and July, based on a published index plus a margin that depends on your combined loan-to-value. Rate changes are capped annually.. Ask a loan officer for current rate details.
Do you offer an introductory rate?
Yes. Both HELOC programs offer fixed introductory rate options for 1, 2, or 3 years before converting to our standard variable rate. This gives you predictable payments early on while you get the most out of your credit line. Ask a loan officer for current introductory rate offers.
Talk to a Loan Officer
Have questions about which HELOC option fits your needs? Visit any of our branch locations or call us to schedule an appointment with one of our loan officer—we’re here to help you make the most of your home’s equity.
* Membership with VICFCU is required. Only improved residential property in Hawaii is accepted as collateral. Owner-occupied properties only for the Standard HELOC; non-owner-occupied and second homes only for the Investment Property HELOC. You are required to reimburse VICFCU for all waived fees if the HELOC is paid off and closed within 3 years of its opening. Property insurance is required. Lien must be in 2nd position at minimum; limits in excess of $250,000 require VICFCU to be in 1st lien position. APR is variable and adjusts semi-annually in January and July; APR cannot increase or decrease more than 2.0 percentage points in any one-year period. Maximum APR is 18% or the maximum permitted by law, whichever is lower. Rates, terms, and conditions are subject to change without notice. Other terms and conditions apply.