your potential is open-ended
An Execuline home equity line of credit is a loan that allows you to use the equity in your house to establish an open-end line of credit.
Capitol Federal's Home Equity Lines of Credit:
- 7-year draw term with a 10-year repayment term
- Minimum monthly payment is greater of $50 or 1.5% of principal balance during the Draw Term. Amortizing payments during the repayment term
- Interest accrues only on the amounts you borrow, and at favorable rates
- No closing costs* and NO POINTS**
- Borrow up to 90% of the current market value of your home, less any outstanding mortgage balance (subject to maximum loan amounts)
- Convenient monthly statements that show all transactions and provide complete financial information, including your payment
4 easy ways to access your line of credit:
- By checks
- By Visa® access card
- By True Blue Online® transfer from a CapFed® checking account
- By cash advances at any CapFed location
Capitol Federal® also offers an interest only line of credit option that can be used as a swing or bridge loan to assist with the down payment on the purchase of a new home. Monthly payments are interest only and the loan term is 12 months.
You may download an Execuline Percent of Balance Line of Credit application or download an Execuline Interest Only Line of Credit application, if you wish to apply by mail or in person at a Capitol Federal branch location.
Fax completed applications to 785-270-6024.
* Appraisal may be required and at owner’s expense if: 1) county appraisal not sufficient for loan amount request or 2) depending on Loan-to-Value (LTV).
** No closing costs on percent of balance Execuline Home Equity Line of Credit. You must carry insurance on the property that secures this loan. Certain restrictions apply. Annual percentage rate (APR) may vary. The APR for an 80% Loan-to-Value (LTV) Percent-of-Balance Execuline is 4.500% as of January 1, 2017, with a maximum of 18.000% and a minimum of 4.000%. All loans subject to credit approval.
Loan information is subject to change. Certain restrictions apply.
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Transaction alerts include:
- Purchase thresholds
- International transactions
- Card absent transactions, such as internet and phone transactions
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