| Normal credit qualifications and other terms and conditions apply. Rates subject to change without notice.
1Home equity lines of credit are subject to satisfactory appraisal, title search and proof of ownership. The $0-closing-cost feature is not available on lines of credit with a principal balance of $250,000 or more or on lines of credit requiring the use of outside counsel to close, pursuant to current Capital One, N.A. lending policy. On home equity lines of credit, 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 county tax fees may also apply and are not waived. Consult your banker for additional details. Proof of income required for lines of credit $75,000 or greater. Financial statement and two previous years' federal tax return with attached schedules required for lines of credit $250,000 or greater.
2 The Capital One Bank Home Equity Line of Credit offers a variable rate as low as The Wall Street Journal Prime plus 1.20% 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%.
3Stated 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. The amount of the home equity line of credit for which you may qualify depends upon your annual gross income and available equity in your home—up to 80% of the current fair market value of your home less any debt secured by your home. Please see a Capital One Bank representative for more details on Loan to Value requirements. Valid for owner-occupied, single-family residences, townhouses and condominiums (co-ops and mobile homes are excluded). Total encumbrances on a Texas Homestead cannot exceed 80% loan-to-value, and total line of credit commitment cannot exceed 50% of the fair market value of the home. Overdraft protection, credit card and/or debit card access are not available.
4 Texas home equity lines of credit have a draw period of 10 years. The minimum advance amount during the draw period is $4,000. After the draw period has expired, any outstanding balance will be amortized over a 10- or 20-year period and will be payable in 120 or 240 equal monthly installments, depending upon the repayment terms and conditions of your line of credit agreement. You have the option of paying more toward principal whenever you choose with no prepayment penalties.
5The fixed-rate option applies only to 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. 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 draw period of the line. Ask us for details.
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