The Purchase + Improvement loan allows you to buy a house and then make the improvements with one mortgage loan. Simply submit bids for your improvements at the time of the loan application, and Capitol Federal® will appraise the house taking your bids for improvements into consideration. This allows you to borrow for your improvements now by taking advantage of the higher home value.
Purchase + Improvement Highlights:
- One loan for both the purchase and improvements
- Lower monthly payments than a Home Equity Line of Credit
A Purchase + Improvement Loan works like this:
Protect Your Home with Customized Insurance Coverage
Protecting your home, your biggest investment, requires tailored coverage. Randomly chosen coverage amounts can lead to disastrous outcomes. We help you determine rebuilding costs, replace belongings, and safeguard against liability lawsuits. Get personalized insurance for your home, apartment, condo, or rental property, ensuring comprehensive protection for your property and loved ones.
Refinance with Improvements
Ready. Set. Renovate.
The Refinance + Improvement loan allows you to refinance your current home with Capitol Federal® and then make home improvements with one mortgage loan. Simply submit bids for your home improvements at the time of the refinance application, and the appraiser will take the proposed improvements or repairs into consideration.
- One loan for both the refinance and improvements
- Loan amount is based on the home value after improvements or repairs are made;
- Lower monthly payments than a home equity line of credit
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With Capitol Federal's Automatic Payment Option, we handle all the details of paying your mortgage after you enroll, and this service is provided to you at no cost. Authorize deduction from a checking or savings account and determine the transfer date: 1st, 5th, 10th, 15th, 20th or 25th of each month.*
To start your Automatic Payment Option, simply complete the Automatic Payment Option Agreement Form** (PDF), sign and return the form, together with a check marked "void", to:
Capitol Federal
Attention: Loan Service Department
700 S Kansas Avenue
Topeka, KS 66603
If you prefer, you may fax the completed form to CapFed at 785-270-6024 or send via encrypted email to [email protected].Once registered, make a notation in your account register - or confirm the transaction through True Blue Online® banking. It's perfect! No checks to write, no postage to pay and no forgotten payments or checks lost in the mail. Under Capitol Federal's Automatic Payment Option, customers may make additional principal payments to their loan.
*Mortgage Loans and Consumer Loans are available on these dates if paid within 10 days of the due date. Ex. Due date 1st, you can set up the pre-authorized transfer 10 days prior to the due date or no later than the 10th of the month; if the Pre-Authorized Transfer payment date is later than the loan payment due date, additional finance charges may be incurred. Execuline transfer date available only on 10th of each month. All transfers are processed only on regular business days. Should the transfer date fall on a weekend or federal holiday, the transfer will be processed on the next business day. If the mortgage or loan payment amount changes, the customer will be notified in advance of the change.
**One agreement form is required for each loan.
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