*Discounted Introductory Fixed Rates of 0.99%, 1.99%, and 2.99% Annual Percentage Rate (APR) available as you may select for one, two, or three years, respectively, for approved applications received between 3/1/15 and 4/30/15 and funds by 6/12/15. After the fixed rate period, rates are variable and the APR is subject to change monthly based on the Prime Rate published in the Wall Street Journal, plus a margin; margin is based on your credit history and bank relationship. Undiscounted APR is currently 4.50% as of 2/20/15. Investor discounted rate and margin is 0.50% higher. Discounted rate and margin is 0.50% higher for home equity lines of credit with maximum total loan-to-value of 90% that simultaneously closes with a qualified Central Pacific HomeLoans first mortgage loan. Minimum APR after the fixed rate period will be 4.50%. Maximum APR is 18.00%. Discounted Fixed Rates require minimum monthly payment automatically debited from a Central Pacific Bank Personal Checking Account. After the introductory rate period, or if the automatic debit is cancelled or the Personal Checking Account is closed, the rate will change to a variable rate as described in the Important Terms of our Home Equity Line of Credit, ask us for a copy. A Central Pacific Bank home equity line of credit account holder with an account opening date after January 17, 2011 (including both existing accounts and accounts closed within 6 months after the Bank received a new Home Equity Line of Credit application) that has already received a promotional rate is not eligible for this offer. Receive a credit at loan closing (up to $500) to offset a third-party lender's early closing fees when you make an initial advance on your new home equity line of credit account to pay off your existing home equity line balance of at least $10,000 with that third-party lender (payoffs less than $10,000 are not eligible for closing credit). Early closing fee must be assessed and identified by third-party lender through its payoff procedure to receive the credit at loan closing. Bank will cover cost of applicant(s) credit report(s) and closing costs (fees) for owner-occupied properties only when directly related to property securing the home equity line of credit; the covered fees are as follows: flood certification, title insurance, mortgage recording, release of third-party mortgage and Collateral Valuation Report.
**If a Collateral Valuation Report is not available, customer may request an appraisal at a cost of $287. Properties held in trust will be charged trust review fees of $110 per single trust and/or $165 for a joint trust. Requests over $250,000 will be charged for a full appraisal at a cost estimated between $600 and $1,000, and title insurance cost estimated between $982 and $3,165. Investor properties subject to all closing costs (fees) estimated between $526 and $4,940. Account has a 10-year draw period (with interest only monthly payments) followed by a 20-year repayment period (with principal plus interest payments). A termination fee of $500 or 2.0% of the Original Credit Limit, whichever is lower, will be assessed if account is closed within the first 3 years. Loan must be secured by fee simple property located in Hawaii. Homeowner's and hurricane insurance required; flood insurance required if property is located in flood zone. Subject to credit approval. Other restrictions may apply. Subject to change without notice.
***The interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes. Please consult your tax advisor about tax deductibility.