Home Equity Line of Credit
Use your Line of Credit for all sorts of projects!
This is an adjustable rate Line of Credit providing quick access to your available funds. You choose what is most convenient for you: a check, cash, or a deposit to an existing Savings or Checking account. To access your money, you may come in, call , or use ConnectLine or NetTeller.
Here are the features:
- Up to 12 year Repayment
- Minimum Line of Credit is $10,000
- Maximum Line of Credit is $150,000
- Five year renewable advance period
- $100 per month minimum payment
- $5000 minimum advance must be taken at closing
- $500 minimum subsequent advances
- First three advances per quarter are free; $5.00 per additional advance
- The finance charge begins to accrue on the date each advance is posted to the credit limit
and accrues for each day the balance remains unpaid
To apply, these six items are required to process your loan:
- Real Estate Loan Application
- Agreement to Provide Homeowner's Insurance Form
- First Mortgage Questionnaire
- Copy of Statutory Warranty Deed (Ownership & Legal Description)
- Income Verification (Pay stub or 1040 Tax Forms)
- County Property Tax Valuation (Verify Property Value)
Other Important Information:
- First and 2nd Mortgages Only - 3rd mortgages not available
- Home equity only. Not available for purchases
- Owner Occupied Kansas and Oklahoma Property Only
- Equity loans not available with co-signers
- No pre-payment penalty
- Home Equity Line of Credit Disclosure
- What You Should Know About HELOC's
Rate Calculation
| Loan to Value | Term | Variable Rate Based on: | Rate Floor |
| Up to 80% | Up to 144 months | Prime (Index) | 5.00% |
| Over 80% - 90% | Up to 144 months | Prime plus 3/4% (Margin) | 5.75% |
Click here to view our current Home Equity Loan Rates.
- Rate adjustment twice annually in February and August
- Cap on rate changes: 1% per adjustment
- Cap on adjustments: 7% maximum over the term of the loan
- A.P.R. can never exceed 18% or fall below 5%
Borrow Your Equity Based on the Following:
- County Property Tax Valuation or
- Certified Appraisal – up to 90% *
Questions? Just visit or call one of our Home Loan Specialists:
- At Mid-Continent , please call Ashley , 316.517.1999 for questions, FAX - 316.517.7668
- At Pawnee, please call Cathy, 316.831.4045, if you have a question, FAX - 316.831.4958
- At Independence, please call Lisa, 620.332.0227 for information, FAX - 620.332.0232
