Purchase + Improvement Loan

Purchase + Improvement Loan - The loan with unlimited potential. Loan CalculatorCapitol Federal Purchase + Improvement Loan - buy the house you want and make improvements with one mortgage loanCapitol Federal Purchase + Improvement Loan - buy the house you want and make improvements with one mortgage loan

Simply submit your bids for the 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 improved value.


How Purchase + Improvement loans work.

Additional program requirements apply.  Owner-occupied only.

Sales Price $150,000 Total Cost $200,000
Improvements $50,000 * Loan Amount -$160,000
  ___________   ___________
Total Cost $200,000** Down Payment $40,000
The appraisal showing improvements
completed equals $200,000, therefore:
  Additional 10%
of bids
+ $5,000 *
(Lower of price + costs, or appraisal) $200,000   ___________
  x 80% Needed at closing $45,000
  ___________   plus closing costs
New Loan Amount $160,000    

*Held in escrow for completion.

**Assumes an appraisal of at least $200,000.

Loan information is subject to change.  Certain restrictions may apply.