SimpliFi by Bank of Hawaii
Your dreams. On your terms.
However you choose to use your home's equity, we are committed to help you get where you aspire to be.
Use your home's equity for life’s major milestones.
Consolidate
Pay down debts at a much lower interest rate.
Renovate
Remodel or make home repairs without straining your budget.
Educate
Help with the cost of education expenses.
Home Equity Line of Credit (HELOC) vs. Cash Out Refinance
Compare popular home equity solutions.
| HELOC | HELOC Fixed Rate Option | Fixed Rate Cash Out Refinance | |
|---|---|---|---|
| Access to funds | Revolving line of credit | Lump sum at closing | Lump sum at closing |
| Monthly payment | Interest only with variable rate for first 10 years | Fixed P&I for the length of the loan option term1 | Fixed P&I for the length of the loan term1 |
| Rates | Variable rate | Fixed rate for entire fixed rate loan option term | Fixed rate for entire loan term |
| Fees | No bank closing costs2; low annual fee | No bank closing costs2; low annual fee | Typical mortgage closing costs |
1 Principal and interest
2 Other third party closing costs may apply, such as appraisal and title insurance fees.
Home Equity Line of Credit (HELOC) vs. Cash Out Refinance
Compare popular home equity solutions.
Access to funds
Revolving line of credit
Monthly payment
Interest only with variable rate for first 10 years
Rates
Variable rate
Fees
No bank closing costs2; low annual fee
Access to funds
Lump sum at closing
Monthly payment
Fixed P&I for the length of the loan option term1
Rates
Fixed rate for entire fixed rate loan option term
Fees
No bank closing costs2; low annual fee
Access to funds
Lump sum at closing
Monthly payment
Fixed P&I for the length of the loan term1
Rates
Fixed rate for entire loan term
Fees
Typical mortgage closing costs
1 Principal and interest
2 Other third party closing costs may apply, such as appraisal and title insurance fees.
HELOC
A home equity line of credit allows you to draw the money you want when you want it. Plus, you’ll have flexible repayment options.
Cash Out Refinance
Cash out refinance allows you to leverage the equity in your home to access a lump sum of cash for life’s major milestones. Then repay your new mortgage over the term of your loan.
Why apply through SimpliFi by Bank of Hawaii?
Safe, fast and easy application process.
Work on your application on your time.
Work one-on-one with a trusted BOH loan officer.
Choose how you want to be reached: email, phone or in-person.
Trusted Lender
#1 in total dollars and numbers of loans made in the State of Hawaii.*
*#1 Residential Lender ranking is for total number of residential loans and total dollars made by a lender in the State of Hawaii in 2022. Information compiled by Title Guaranty derived from Hawaii Bureau of Conveyances tax data recorded information for 2022. Information is deemed reliable but not guaranteed.
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