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Purchase and Improvement Loan

Buy it good. make it great.

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
  • Available for more improvements or permanent additions
  • Lower monthly payments than regular home improvement loans

As Purchase + Improvement Loan works like this:

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Complete a CapFed® mortgage application online.

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Convenient Automatic Payment Option

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 email it to loanservicing@capfed.com

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.

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No Surprises with Fixed Rates

Learn more about how a fixed-rate mortgage could offer you lower monthly payments, plus the security of knowing your interest rate will stay the same.

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How much home can you afford?

Determine your ability to buy the home you want with our home affordability mortgage calculator. It’s free and easy to use. Try it today!

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*Mortgage Loans and Consumer Loans are available on these dates; although for Consumer Loans, if the Automatic Payment Option 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.