We Offer:
  • Choice of five ARM programs — one, three, five, seven or ten years
  • Loan amounts of up to $2 million for owner-occupants and investors
  • No prepayment penalties
  • Free rate lock anytime during the processing of your loan
  • Convenient AutoPay option from an existing checking account
  • Free Online Banking and Bank-by-Phone services — check your current balance, due date and more
Last Updated: Mar 17, 2018

The options you need to finance the home you want

American Savings Bank Home Loans offers a wide variety of loan programs. Most loan programs contain different features that can be confusing for even experienced homeowners. Our Residential Loan Officers would be more than happy to discuss them with you – give us a call, and we’ll help you find a loan that works for you. The most common loan programs include:

Conforming | Jumbo | VA Loans | Vacant Lot Loans | Construction Loans

Conforming Loans

Conforming Loans are those that meet Fannie Mae and or Freddie Mac underwriting requirements. In other words, income, credit, and property requirements must meet nationally standardized guidelines. Conforming loans are subject to loan amount limits that are periodically set by Fannie Mae (FNMA) and Freddie Mac (FHLMC). These limits vary based on the region in which the subject property is located as well as the number of legal units contained in the subject property.  Since the loan amount limits are subject to change, consult your Residential Loan Officer regarding the current limits for Hawaii.

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Jumbo and Non-Conforming Loans

Jumbo loans are those that exceed the loan amounts allowed by Fannie Mae (FNMA) and Freddie Mac (FHLMC), and can include both Fixed Rate and Adjustable Rate Mortgages.  Speak with a Residential Loan Officer to discuss your options.

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Veterans Administration (VA) Loans

Veterans Administration loans were created to help veterans finance the purchase of their homes with favorable loan terms. For the purpose of the VA program, "veteran" includes active duty service personnel and certain categories of spouses. The federal government insures VA loans, or guarantees VA-approved lending institutions against loss from default on qualifying loans.

         Programs and Features:

  • Fixed Rate Loans 
  • Available for detached 1-unit dwellings, eligible condos and PUD's
  • Properties must meet VA guidelines and be inspected by VA-approved appraisers
  • Certain maximum loan amounts that change periodically - check with your Residential Loan Officer
  • No prepayment penalty
  • No reserve requirements at closing (certain restrictions may apply)
  • No down payment required (certain restrictions may apply) 
  • Out-of-pocket expenses may be gifted, typically from relatives
  • Only eligible veterans and their spouses occupying the subject property may be co-borrowers or co-signers
  • Seller may contribute a maximum of 4% of the lower of the sales price or the appraised value

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Vacant Lot Loans

You’ve found the perfect place to live – except there’s not a house there. With a Vacant Lot Loan from American Savings Bank Home Loans, even if you’re not planning to build your new home now, we provide you the tools and the flexibility to buy the land and plan ahead.  When you’re ready to build, see us about a Construction Loan.

        Programs and Features:

  • Land purchase with the intent to construct an owner-occupant or second home
  • 3-year term - Interest-only fixed rate w/ balloon, or principal & interest fixed rate w/ balloon 
  • Residentially zoned properties only; lots must have infrastructure 
  • Note: Points and fees vary and are subject to change. Fees paid toward the Vacant Lot Loan may be credited toward a Construction Loan.

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Construction Loans

A single closing transaction for both construction and permanent financing. Upon completion of construction, loan will automatically convert to a permanent long-term mortgage.

        Programs and Features:

  • Rate locked in for the construction period and for the permanent financing
  • Interest-only payments during the construction phase
  • Interest-only payments are based on the funds disbursed for construction
  • Permanent financing – 30 and 15 year terms; conforming and non-conforming available
  • Owner-occupied or second home
  • 1- 4 unit single family residences; fee simple only; residentially zoned properties only
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