- Fixed rate and fixed monthly payments
- Typically for large expenses
- Great option to refinance your low balance mortgage without closing costs
- Flexible source of funds you can access as you need it
- As you repay your principal, your funds become available again
- Convenient access through Online Banking and checks
The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) requires all mortgage loan originators to be registered in the Nationwide Mortgage Licensing System and Registry (NMLS). Mortgage loan originators and their NMLS IDs can be looked up at http://www.nmlsconsumeraccess.org/.
Each agency-regulated financial institution is assigned its own entity ID in the registry. Capital One, N.A., NMLS ID is 453156.
Average savings of $100/month are based on a $24,000 loan and 8-year term, comparing total interest paid at the average APR for US revolving debt against the average funded Capital One Bank® Home Equity Loan APR as of September 2013. Your actual savings may vary depending on the APR and term of your Capital One Bank Home Equity Loan and the actual terms of your revolving debt.
Texas residents: 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. Texas home equity lines of credit have a draw period of 10 years. The minimum advance amount during the draw period is $4,000. You have the option of paying more toward principal whenever you choose with no prepayment penalties. There are no prepayment penalties or termination fees in TX.
Borrower is responsible for prepaid interest, escrow contributions, and any other property related fees. Home equity loans with a pre-payment penalty require no payment at closing, but if you pay off the loan within 24 months of opening, you must pay a fee of up to $450 and any applicable mortgage/documentary taxes we paid on your behalf at closing. HELOCs with an early termination fee require no payment at closing, but if you pay off the line within 36 months of opening, you must pay a fee of up to $450 and any applicable mortgage/documentary taxes we paid on your behalf at closing.