| Normal credit qualifications and other terms and conditions apply. Rates subject to change without notice.
Subject to a $99 origination fee and a $50 annual fee. Home equity lines of credit are subject to satisfactory appraisal, title search and proof of ownership. Lender closing fees, typically ranging between $100 and $1,300, are waived. Other fees, such as attorney fees and title insurance (if applicable), will not be waived. These fees typically range between $750 and $4,400, depending upon the circumstances of your line of credit. Local parish tax fees may also apply and are not waived. For Orleans Parish, the $325 Documentary Transaction Tax is not waived. Consult your banker for additional details. Proof of income required for lines of credit $50,000 or greater. Financial statement and two previous years' federal tax return with attached schedules required for lines of credit $250,000 or greater.
1The Capital One Bank Home Equity Line of Credit offers a variable rate as low as The Wall Street Journal Prime plus 2.00% on new lines $50,000 and greater, including the auto debit discount. This rate is subject to change based on movement in The Wall Street Journal Prime. As of 12/16/08, The Wall Street Journal Prime Rate was 3.25%. The maximum possible APR on the variable-rate line of credit is 18%. The Capital One Bank home equity line of credit allows you to make multiple advances for any amounts and will be available for a 10-year draw. After the draw period, you will be required to pay the entire outstanding balance in a single payment. You have the option of paying more toward principal whenever you choose with no prepayment penalties. Please see a Capital One Bank representative for more details on Loan to Value requirements.
2 Stated margin includes a 0.25% APR discount when you set up automatic payments from your Capital One Bank’s branch checking or savings account. APR may increase if automatic payments are not maintained.
3The fixed-rate option applies only to Capital One Bank home equity lines of credit. Customers must request the lock. The maximum number of locks on a home equity line of credit at any given time is three. There is a $50 fee to lock a fixed rate. The fixed-rate option is based on The Wall Street Journal's Prime rate plus or minus a margin determined at the time of your fixed-rate option. A fixed-rate option cannot be placed on the home equity line of credit during any promotional rate period. Minimum amount to lock in a fixed rate is $5,000. The maximum term for the fixed-rate option is 10 years, not to exceed the maturity date of the line of credit. Ask us for details. |
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