An Execuline home equity line of credit is a loan which 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 to a CapFed® checking account
- By cash advances at any CapFed location
Application Packet - Closed-End Home Equity
Application Packet - Execuline Percent of Balance
Application Packet - Execuline Interest Only
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.
* Appraisal may be required at owner’s expense.
**Please see loan rates for current interest rates, terms and additional information.
Loan information is subject to change. Certain restrictions apply.
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