- Banking, Credit Cards, Loans ...



Thank you for your interest in our Home Equity Line of Credit. To process your application as quickly as possible, please provide us with the items marked below:

Completed and signed Home Equity Line of Credit application Completed Schedule of Real Estate Owned -- If you own more than one property Copy of current paystubs covering one full month and your last two years' W2 -- If you are currently earning an hourly wage or salary Copy of Award Letter or most recent 1099 -- If you are receiving Social Security or Pension Copy of most current 401K and/or IRA complete account statement(s) -- If you are retired Annuity contract or statement with balance and term -- If you receive annuity income Copies of last two years' U.S. Individual Income Tax Returns with all schedules -- If any of the following apply:

? You are requesting a loan amount of $250,000 or more ? You receive rental income If you are self-employed please provide ? Copies of last two years' U.S. Individual Tax Returns with all schedules ? Year-to-date profit and loss statement signed by the borrower or a CPA if it is audited

Profit and loss statement should cover up to the month prior the application Documents cannot be more than 60 days old at closing ? 2 business depository bank statements ? Depository bank statements must cover the last 2 months of the profit and loss statement ? Documents cannot be more than 60 days old at closing Copies of last two years' U.S. Business Tax Returns with all schedules and K-1's -- If you have ownership in a Corporation or Partnership of 25% or more Copy of the Long Form Trust, all amendments and restatements -- If the subject property is held in Trust Copy of your current homeowners/hurricane insurance policies for the property you are using as collateral Copy of current monthly statement for any mortgage(s) for the property you are using as collateral Copy of Agreement ? If the property has a financed or leased solar or PV system Copy of the Final Closing Disclosure -- If any of the following apply: ? You sold a property in the last year ? You purchased a property or refinanced a mortgage within the last three months Please provide the following if the property you are using as collateral for this loan is part of a Condominium ? Name of condo project: ________________________ ? Amount of monthly maintenance fee: $_____________

20200611

As part of this loan a property inspector may need to photograph the exterior of your property. If your property is not visible or accessible from a public street (gated community, private road, etc.), the property inspector will need to contact you. Please provide:

? Contact Person: __________________________________ ? Contact Number: _________________________________ We may require additional documentation or information. If we do, we will promptly let you know. Should you have any questions, please feel free to call me. My business card is attached for your convenience.

20200611

Savings Bank Home Equity Line of Credit Application

INDIVIDUAL ? Only Primary Applicant is allowed to use the

credit and is responsible for repayment. ? Fill in information for Primary Applicant Only. ? Only Primary Applicant must sign application.

Credit to be issued only to Primary Applicant.

Amount applying for: (minimum $10,000) $

JOINT? we intend to apply for joint credit ? Primary Applicant and Co-Applicant may use the credit without each other's permission.

Each will be responsible for paying off the entire line, no matter who used the money from the line. ? Fill in information for both Primary Applicant and Co-Applicant. ? Both Primary Applicant and Co-Applicant must sign application. ? Credit to be issued to Primary Applicant and Co-Applicant.

Purpose: ? Home Purchase ? Home Improvement ? Refinancing ? Cash-out Refinancing ? Personal Expenses

Initial below Primary Applicant

Co-Applicant

Collateral Property Details (Hawaii properties only)

Property Address

City

State ZIP

Current Mortgage Balance Estimated Value

$

$

Tell Us About Yourself

Primary Applicant Information

Last Name

Property Type

Owner Occupancy

? 1-Unit ? 2-Unit ? 3-Unit ? 4-Unit ? Investment/Rental ? Owner Occupied ? Second Home

? Married ? Unmarried (including single, divorced and widowed)

First Name

Middle Name

Social Security No.

Date of Birth

Home Address Previous Address (if less than two years)

City

State ZIP

Years There? Rent/Mortgage (Monthly)

$

City

State ZIP

Mailing Address (if different from Home Address)

City

State ZIP

Home Phone

Cell Phone

Work Phone

Email

Employment Type

Employer

? Full Time ? Part Time ? Self Employed ? Other

Job Title / Military Rank

Years There? Time in Line of Work?

Previous Employer (if less than two years)

Job Title / Military Rank

Years There?

Gross Monthly Income

Other Income* (Monthly)

Source of Other Income*

* NOTE: Alimony, child support, or separate maintenance income need not be

$

$

revealed if you do not wish to have it considered as a basis for repaying this obligation.

*Alimony, child support or separate maintenance income received under: ? Court Order ? Written Agreement ? Oral Understanding

Demographic Information

Demographic Information of Borrower: The purpose of collecting this information is to help ensure that all applicants are treated fairly and that the housing needs of communities and neighborhoods are being fulfilled. For residential mortgage lending, federal law requires that we ask applicants for their demographic information (ethnicity, sex, and race) in order to monitor our compliance with equal credit opportunity, fair housing, and home mortgage disclosure laws. You are not required to provide this information, but are encouraged to do so. The law provides that we may not discriminate on the basis of this information, or on whether you choose to provide it. However, if you choose not to provide the information and you have made this application in person, federal regulations require us to note your ethnicity, sex, and race on the basis of visual observation or surname. The law also provides that we may not discriminate on the basis of your age or marital status information you provide in this application. Instructions: You may select one or more "Hispanic or Latino" origins and one or more designations for "Race." If you do not wish to provide some or all of this information, select the applicable check box.

Ethnicity

Race

? Hispanic or Latino

? Mexican ? Puerto Rican ? Cuban

? Other Hispanic or Latino Enter origin__________________________________________________ Examples: Argentinean, Colombian, Dominican, Nicaraguan, Salvadoran, Spaniard, etc.

? Not Hispanic or Latino ? I do not wish to provide this information

Sex

? Female

? Male

? I do not wish to provide this information

? American Indian or Alaska Native - Enter name of

enrolled or principal tribe:__________________________________________

? Asian

? Asian Indian ? Chinese ? Filipino ? Japanese ? Korean ? Vietnamese ? Other Asian - Enter race: __________________________________________

Examples: Hmong, Laotian, Thai, Pakistani, Cambodian, etc.

? Black or African American ? Native Hawaiian or Other Pacific Islander

? Native Hawaiian ? Guamanian or Chamorro ? Samoan ? Other Pacific Islander - Enter race:________________________________

Examples: Fijian, Tongan, etc.

? White ? I do not wish to provide this information

17G200 (5/19)

1 of 4

? 2019 American Savings Bank, F.S.B.

Home Equity Line of Credit Application

Co-Applicant Information

Last Name

Home Address

Previous Address (if less than two years)

Mailing Address (if different from Home Address)

Home Phone

Cell Phone

? Married ? Unmarried (including single, divorced and widowed)

First Name

Middle Name

Social Security No.

Date of Birth

City

State ZIP

Years There? Rent/Mortgage (Monthly)

$

City

State ZIP

City

State ZIP

Work Phone

Email

Employment Type

Employer

? Full Time ? Part Time ? Self Employed ? Other

Job Title / Military Rank

Years There? Time in Line of Work?

Previous Employer (if less than two years)

Job Title / Military Rank

Years There?

Gross Monthly Income

Other Income* (Monthly)

Source of Other Income*

* NOTE: Alimony, child support, or separate maintenance income need not be

$

$

revealed if you do not wish to have it considered as a basis for repaying this obligation.

*Alimony, child support or separate maintenance income received under: ? Court Order ? Written Agreement ? Oral Understanding

Demographic Information

Demographic Information of Borrower: The purpose of collecting this information is to help ensure that all applicants are treated fairly and that the housing needs of communities and neighborhoods are being fulfilled. For residential mortgage lending, federal law requires that we ask applicants for their demographic information (ethnicity, sex, and race) in order to monitor our compliance with equal credit opportunity, fair housing, and home mortgage disclosure laws. You are not required to provide this information, but are encouraged to do so. The law provides that we may not discriminate on the basis of this information, or on whether you choose to provide it. However, if you choose not to provide the information and you have made this application in person, federal regulations require us to note your ethnicity, sex, and race on the basis of visual observation or surname. The law also provides that we may not discriminate on the basis of your age or marital status information you provide in this application. Instructions: You may select one or more "Hispanic or Latino" origins and one or more designations for "Race." If you do not wish to provide some or all of this information, select the applicable check box.

Ethnicity

Race

? Hispanic or Latino

? Mexican ? Puerto Rican ? Cuban

? Other Hispanic or Latino Enter origin___________________________________________________ Examples: Argentinean, Colombian, Dominican, Nicaraguan, Salvadoran, Spaniard, etc.

? Not Hispanic or Latino ? I do not wish to provide this information

Sex

? Female

? Male

? I do not wish to provide this information

? American Indian or Alaska Native - Enter name of

enrolled or principal tribe:__________________________________________

? Asian

? Asian Indian ? Chinese ? Filipino ? Japanese ? Korean ? Vietnamese ? Other Asian - Enter race: __________________________________________

Examples: Hmong, Laotian, Thai, Pakistani, Cambodian, etc.

? Black or African American ? Native Hawaiian or Other Pacific Islander

? Native Hawaiian ? Guamanian or Chamorro ? Samoan ? Other Pacific Islander - Enter race:________________________________

Examples: Fijian, Tongan, etc.

? White ? I do not wish to provide this information

Assets (Please list all assets including checking, savings, IRA, 401K, money market, and investments.)

Bank / Financial Institution Bank / Financial Institution Bank / Financial Institution

Bank / Financial Institution

Account Balance

$

Account Balance

$

Account Balance

$

Account Balance

$

Member FDIC

17G200 (5/19)

2 of 4

Savings Bank

? 2019 American Savings Bank, F.S.B.

Home Equity Line of Credit Application

Other Real Estate Owned (If additional space is needed use the attached schedule.)

Property Address (Physical Address)

Lender

Balance Owing

$

Monthly Payment

Maintenance, Taxes & Insurance

Rental Income (if applicable)

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

Obligations (We will pull information from your credit report. Please list obligations that may not appear on the report.)

Alimony (Monthly Payment)

Child Support (Monthly Payment)

Other Obligations (Monthly Payment)

$

$

$

Auto Pay Authorization

Yes, sign me up for Auto Pay from my American Savings Bank Personal Checking account. Account # _______________________________________

Your payments will be automatically scheduled according to the scheduled payment date on your loan agreement.

Minimum Monthly Payment

Minimum Monthly Payment + Additional $______________________________________________________________________

I (we) also authorize American Savings Bank to initiate adjustments to my account to correct any errors made in relation to these transfers. I agree to have enough money in my account at least one (1) day before the transfer is scheduled. If I do not have enough money in my account to make these transfers three (3) times during any 12-month period, I understand that American Savings Bank can unilaterally cancel this service 21 calendar days after sending written notice to me. This authorization shall remain in full force and effect, and shall be binding on my heirs, personal representative, administrators, assignors and co-owners of the account above, unless an owner of the account to be withdrawn from cancels in writing no less than seven (7) business days before the next scheduled transfer. An owner of the account to be withdrawn from can revoke this authorization by writing to American Savings Bank, ATTN: ACH Services, PO Box 2300, Honolulu, HI 96804-2300.

Additional Information Required To Complete Home Equity Line of Credit Application

Is construction being performed on your home at this time?

YES NO

As part of your HELOC application we will order a property appraisal or a property condition report (requires photos from the street). Is the property visible from the street?

YES NO

Will this loan be used to purchase the fee on your property?

YES NO

Will you be requesting American Savings Bank to pay off loans with proceeds of your Home Equity Line of Credit account? (Please provide current account statements and complete account numbers.)

YES NO

Important Information About Procedures For Opening A New Account

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

Member FDIC

17G200 (5/19)

3 of 4

Savings Bank

? 2019 American Savings Bank, F.S.B.

Home Equity Line of Credit Application

You are applying for a Home Equity Line of Credit account which will be secured by a mortgage on the property listed on this application. You promise that the property will not be used for any illegal or restricted purpose and that all statements made on this application are true and are made for obtaining the loan. You fully understand that it is a federal crime punishable by fine or imprisonment, or both, to make intentional false statements concerning any of the above facts as applicable under the provisions of Title 18, United States Code, Section 1014. You have read this application and promise that everything you have stated in it is true. You are at least 18 years of age and either a U.S. citizen or permanent resident. You agree to reimburse ASB for any expenses it incurs as a result of this loan request if you should cancel before the loan closes or if this credit request is denied.

You (i) certify that all information provided in this application is correct and to the best of your knowledge, (ii) authorize American Savings Bank ("ASB") to verify at any time your credit and employment history, (iii) authorize ASB to verify information contained in this application and in other documents required in connection with this application, either before or after the loan is closed, (iv) authorize ASB to request any and all information and documentation related to your income, deposit account balances, loan payoff amounts, and/or tax returns, (v) authorize ASB to instruct your insurer to recognize ASB as a mortgagee on your insurance policies, and (vi) understand that ASB retains this application (whether or not approved).

By signing below, you also acknowledge that you have received the disclosures "Important Terms Of Our Home Equity Line Of Credit" and "What you should know about home equity lines of credit" and had the opportunity to read them before submitting this application form. You also acknowledge that if your application is approved, you must still sign a Credit Agreement, a mortgage and other documents required by us and that ASB may keep some of its records in digital or electronic format and that such records have the same legal effect as the paper version of those records.

X

Applicant's Signature

Date

X

Co-Applicant's Signature

Date

Member FDIC

MKT-605W 17G200 (5/19)

4 of 4

Savings Bank

? 2019 American Savings Bank, F.S.B.

Savings Bank Schedule of Real Estate Owned

Property Address (Physical Address)

City

State Zip

Lender

Balance Owing

Monthly Payment

Maintenance, Rental Income Taxes & (if applicable) Insurance

Applicant's Name

X

Applicant's Signature

Member FDIC

17G200 (5/19)

Date

Co-Applicant's Name

X

Co-Applicant's Signature

Date

? 2019 American Savings Bank, F.S.B.

IMPORTANT TERMS of our HOME EQUITY LINE OF CREDIT

(Equity ExpressSM Account or Equity ExpressSM Total Line of Credit Account)

Retention of Information: This disclosure contains important information about our Equity Express Account Home Equity Line of Credit. You should read it carefully and keep a copy for your records. Availability of Terms: All of the terms described below are subject to change prior to opening your account. If these terms change (other than the annual percentage rate) and you decide, as a result, not to enter into an agreement with us, you are entitled to a refund of any fees that you have paid to us or anyone else in connection with your application. Security Interest: We will take a mortgage on your home. You could lose your home if you do not meet the obligations in your agreement with us. Possible Actions: We can terminate your account, require you to pay us the entire outstanding balance in one payment before the draw or repayment periods end, and charge you certain fees if: 1) there is fraud or material misrepresentation by you in connection with your line; 2) you fail to make a payment when due or otherwise meet the repayment terms of your line for any outstanding balance; or 3) any action or inaction by you adversely affects our security interest for your line or any right we have in the collateral (your home). Examples of acts by you which may adversely affect our rights in the collateral including, but are not limited to, the following: if you transfer title to or sell the collateral in a manner not permitted by the mortgage; if you fail to maintain or acquire insurance on your home; if you commit waste or other destructive use or fail to maintain the collateral such that it adversely affects the value of the collateral; if you fail to pay property taxes or assessments resulting in the filing of a lien senior to that of the mortgage; if you die; if the collateral is taken by condemnation: or if a prior mortgage holder forecloses. We may suspend further advances or "freeze" your line or reduce your credit limit during the draw period if: 1) the value of any dwelling that is part of the collateral declines significantly below its appraised value for purposes of your line; 2) we reasonably believe that you will be unable to fulfill your repayment obligations under your line because of material change in your financial circumstances; 3) you are in default of any material obligations under the agreement; 4) we are prevented by government action from imposing the annual percentage rate provided for in the agreement; 5) the priority of the lien of the mortgage is adversely affected by government action to the extent that the value of our security is less than 120% of your balance under your line; or, 6) we are notified by our regulatory agency that continued advances constitute an unsafe or unsound practice. The initial agreement permits us to make certain changes to the terms of the agreement at specified times or upon the occurrence of specified events. Eligibility: Depending on your creditworthiness, you may qualify for one of two Equity Express Products, (i) Equity Express or (ii) Equity Express Total Line of Credit. The differences in Payment structures are described here below. Draw Period: You can obtain credit advances ten years from the date of your agreement unless your rights to obtain advances of credit are otherwise suspended or canceled. During the draw period, payments will be+due monthly. Your minimum monthly payment during the draw period is described below. After the draw period ends, you will no longer be able to obtain credit advances and must repay the outstanding balance as stated in the "Repayment Period" section of this disclosure. Repayment Period: You will no longer be able to obtain credit advances ten years from the date of your agreement. The length of the repayment period will be twenty years and begins immediately after the draw period expires. During the repayment period, payments will be due monthly. Your minimum monthly payment during the repayment period is described below.

Equity Express: Minimum Payment Requirement Draw Period: Your minimum monthly payments will be equal to the sum of the finance charges, any credit insurance and any other charges that apply, including amounts past due, and late charges. The minimum payment will not fully repay the principal that is outstanding on your line. You will then be required to pay the entire balance during the repayment period. Minimum Payment Requirement Repayment Period: Your minimum monthly payments will be equal to 1/240th of the outstanding principal balance, determined as of the first day of the repayment period, plus all accrued finance charges, any credit insurance and any other charges that apply, including amounts past due, and late charges. Minimum Payment Example: If you made only the minimum payments and took no other credit advances, it would take thirty years to pay off a credit advance of $10,000.00 at an ANNUAL PERCENTAGE RATE OF 4.50%. Because the line of credit has a draw period of ten years plus a repayment period of twenty years, if your line was not renewed or extended and you make the minimum payments, you would make 120 monthly payments of $34.52 to $38.22 during the draw period, followed by 240 monthly principal plus interest payments ranging from $41.82 to $79.17. An increase in the ANNUAL PERCENTAGE RATE may increase the amount of your monthly payment. Monthly payments are approximations and vary due to minor variations in rounding. Equity Express Total Line of Credit: Minimum Payment Requirement Draw Period: Your minimum monthly payments will be equal to the sum of 0.25% of your outstanding balance plus the finance charges, any credit insurance and any other charges that apply, including amounts past due, and late charges. The minimum payment will not fully repay the principal that is outstanding on your line. You will then be required to pay the entire balance during the repayment period. Minimum Payment Requirement Repayment Period: Your minimum monthly payments will be equal to 1/240th of the outstanding principal balance, determined as of the first day of the repayment period, plus all accrued finance charges, any credit insurance and any other charges that apply, including amounts past due, and late charges. Minimum Payment Example: If you made only the minimum payments and took no other credit advances, it would take thirty years to pay off a credit advance of $10,000.00 at an ANNUAL PERCENTAGE RATE OF 4.50%. Because the line of credit has a draw period of ten years plus a repayment period of twenty years, if your line was not renewed or extended and you make the minimum payments, you would make 120 monthly payments of $46.40 to $62.50 during the draw period, followed by 240 monthly principal and interest payments of about $30.97 to $58.63. An increase in the ANNUAL PERCENTAGE RATE may increase the amount of your monthly payment. Monthly payments are approximations and vary due to minor variations in rounding. Fees and Charges: To open and maintain a line of credit, you must pay certain fees to third parties. These fees generally total between $10.00 and $3,000.00 (American Savings Bank may waive any or all of these fees). If you ask, we will give you an itemization of the fees you will have to pay to third parties. In addition to any third party fees, you must also pay us the following: (a) hazard/fire/flood insurance premiums for the property if you do not obtain that insurance yourself and we elect at our option to obtain it for you as provided in the mortgage; (b) charges for taxes, lease rent, assessments and other advances made at our option to protect the property as provided in the mortgage; (c) a fee paid to each public official for the recordation of a release of mortgage of twenty-six to seventy-seven dollars ($26.00 - $77.00) (there may be more than one public official); (d) Equity Express Card related charges such as statement reconciliation, research, replacement of lost, stolen, or damaged cards, ATM fees and Visa International Service Assessment Fees; (e) if your line amount is more than $25,000.00, a fee of five hundred ($500.00) will be charged if you request we close it within three (3) years from the Date of Agreement. We will not assess this fee if: [i] your Credit Limit is $25,000.00 or less, [ii] you sell the Collateral to an unrelated/unaffiliated third- party, or [iii] you payoff your Agreement with proceeds from a real estate secured loan from us; (f) a fee for notary service ($100.00 - $250.00 per signer); (g) a credit report fee ($2.48 per applicant); (h) a recording of mortgage fee ($36.00 for land court/$41.00 for regular system/$77.00 for double-system); (i) a condo processing fee ($100.00); (j) a trust review and trust mortgage document preparation fee ($130.89 - $366.49); (k) a property valuation fee ($14.50) and property condition report fee ($60.00 - $185.00). If a valuation is not available, the current tax assessed value and property inspection report or an appraisal may be used. For home equity credit line requests over $250,000.00, in some situations an appraisal may be required. Appraisal cost may vary from $500.00 - $1,500.00 depending on the property; (l) flood certification fee ($9.00); (m) mortgage/document preparation fee ($104.71); (n) title insurance fees based on the amount of the line of credit requested ($125.00 - $3,600.00); (o) Escrow services fee ($125.00 - $1,500.00); (p) Subordination fee ($300.00). Late Payment fee: 5% of the unpaid portion of the minimum amount due. The maximum late charge is $30.00 per late payment. Returned Item Fee [due to insufficient funds] ($20.00). Replacement Card Fee ($20.00 per card). Expedited Card Fee ($50.00 per request). Returned Mail Fee ($5.00 per month).

Escrow Payments: It is unlikely that we will require escrow payments. We may require escrow payments if they are not already collected by another lender. We have the right to collect 1/12th of the yearly taxes, assessments, mortgage insurance, insurance and lease rent for your property at the same time we collect your monthly payment. Collection of escrow payments allows us to make sure that these items are paid and do not become liens on your property. We do not pay you interest on the amount of money in escrow. If you fail to make your escrow payment, you will be in default and we can require immediate repayment of all money you owe us.

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download