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Purchase + Improvements Loans

A Purchase + Improvements loan allows you to buy the house you want and make the improvements with one mortgage loan. You may use your Purchase + Improvements for any improvements or permanent additions. You don't have to wait to make improvements, and you'll enjoy lower monthly payments compared to a separate home improvement loan.

You 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.

Additional program requirements apply. Please contact a loan professional today to discuss the quick and easy way to include the improvements you desire.

How Purchase + Improvements Works


Sales Price	$150,000		Total Cost	$200,000
Improvements	$50,000	*	Loan Amount	-$190,000

Total Cost	$200,000	**	Down Payment	$10,000
The appraisal showing improvements completed equals $200,000 therefore:			Additional 10% of bids	+$5,000
(lower of price+costs, or appraisal)	$200,000
	x 95%		Needed at closing	$15,000
			plus closing costs
New loan amount	$190,000
*Held in escrow for completion.
**Assumes an appraisal of at least $200,000.