With the growing popularity of home renovations, it is important to start planning now! But before you can decide which room to remodel first, you need to consider what the best option for funding your renovation project is going to be.

As a homeowner planning to remodel, don’t forget that the equity in your home could be your best source of financing. With a Home Equity Line of Credit, you are able to put that equity to work for you. Instead of limiting your renovation project to cash funds, a Home Equity Line of Credit allows you to access funds as needed through a revolving line of credit. Other benefits include flexible repayment and tax benefits as the interest paid on a Home Equity Line of Credit may be tax-deductible (please consult your tax adviser).


Once your financing is in place and contractors have been hired, you can expect a good return on investment for renovations. In order to get the best rate of return, and to avoid over-renovating, it’s important to choose the right home improvement projects. Kitchen and bathroom renovations can sometimes be the most costly, but also are the most likely to pay for themselves should you decide to sell later.

No two renovation projects are exactly the same, and each homeowner’s financial resources are unique, so it’s important to find the loan program that fits your needs best. At Hawaii Central Federal Credit Union (HCFCU), you’ll find many options to help you achieve your goals. Highly experienced home loan specialists are available for a free consultation to assess your financial situation, and to get you pre-qualified to determine how big a renovation project you can undertake.

If you choose to open a Home Equity Line of Credit, HCFCU can get you approved and funded in as little as two weeks so that your renovation project can be started promptly. As a not-for-profit company, HCFCU has less fees and is able to offer more flexible conditions. To apply for a Home Equity Line of Credit, or for information about any other home loan product, call 529-4599.


Home loans are provided by CU Network Services (NMLS# 375459), a wholly owned subsidiary of Hawaii Central Federal Credit Union (NMLS# 412820).