Home Equity Loans Put your home's equity to work.
Choose the loan that's best for you — a secure line of credit or a fixed rate for a defined period.
Home equity loans allow you to use your home's equity as a resource for your financial needs. Use it for planned expenses such as home projects, educational expenses, debt consolidation, or for those unplanned events that happen in life.
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Home Equity Line of Credit
Home Equity Lines of Credit are available up to 144 months based on the equity in your property. Loan proceeds can be used for home improvements, debt consolidation, vacations, tuition, etc.
Features include:
- Up to 12-year Repayment
- Minimum Line of Credit is $10,000
- Five-year renewable advance period
- $100 per month minimum payment
- $5000 minimum advance must be taken at funding
- $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
Other Important Information:
- First or second mortgages only
- 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
- 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%. May be up to 90% of Property Value as evidenced by an alternative valuation method or Certified Professional Appraisal.
To access your funds, you can call 316.440.9690 or use Online Banking for transfers.
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Second Mortgage
Single-advance Fixed Rate Home Equity Loans are available up to 120 months based on the equity in your property. Loan proceeds can be used for home improvements, debt consolidation, vacations, tuition, etc.
Features include:
- Up to 10-year Repayment
- Minimum Loan Amount is $10,000
- Fixed rate options for 7-year or a 10-year term
- $100 per month minimum payment
- Loan amount advanced at funding
- The finance charge begins to accrue on the date of funding and accrues for each day the balance remains unpaid
Other Important Information:
- Second mortgages only
- Home equity only; not available for purchases
- Kansas and Oklahoma property only
- Equity loans not available with co-signers
- No pre-payment penalty
Borrow Your Equity Based on the Following:
- Drive by Appraisal or Certified Appraisal if required
To apply, these items are required to process your loan:
- Proof of Current Homeowners Insurance Declaration page
- Current Mortgage Statement
- Verification of Income (two current paystubs, or additional verification may be required)