Summer is here and it’s the perfect time to start working on your home renovation projects. From small improvements such as updating fixtures to more complex projects such as remodeling your kitchen or a new roof, Hawaii Central Federal Credit Union offers a variety of loan programs to fit your specific needs. Here are some options to consider when looking to finance your renovation project:

Home Equity Line of Credit

A Home Equity Line of Credit is the most flexible financing option and allows you to access your approved loan amount when needed through a revolving line of credit. This popular choice is ideal for long-term projects, as you only pay interest on the amount you use. The interest rate for a Home Equity Line of Credit is variable and monthly payments are based on your balance.

Personal Home Improvement Loan


The maximum amount is $20,000 with a fixed annual percentage rate and repayment terms up to 84 months. This is a favorable option for a single project with a short-term unsecured repayment plan.


Cash-Out Refinance

With a Cash-Out Refinance, you can refinance your current mortgage and get the cash you need for your renovation project, all in one convenient loan. This is a great opportunity to take advantage of today’s low rates, lower monthly payments and built up equity.

Owner/Builder Construction Loan

This specialized loan is one of the best for homeowners with complex remodeling projects, like demolishing their current home and building a new one. With a Construction Loan, the loan amount is based on the estimated value of the completed home. Once approved, portions of the loan are disbursed as each phase of the construction is completed. An interest-only payment option is allowed during the construction period.


To select the most cost-effective financing program to fit your needs, call the Home Loan Specialists for a free consultation at Hawaii Central Federal Credit Union. Get started and call today at 536-3677, stop by 681 S. King St. or visit

contact // 536-3677
address // 681 S. King St.
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