Terms & Conditions

Information regarding the Capitol Advantage Home Equity Line of Credit Offer

This introductory rate requires:

  • A new home equity line of credit of at least $10,000
  • Secured by a first or second lien on the home
  • This credit plus the amount of other credit  secured by the home do not exceed 80% of the property value
  • That you already own the home
  • That you maintain a qualified Capitol Bank checking account during the term of the line of credit

How your rate is determined
The index that is used to determine APR is the Prime Rate published in the Midwest Edition of the Wall Street Journal. As of 11/01/2013, the Prime Rate was 3.25%. APR for qualified applicants is variable and will consist of the Prime Rate plus a margin ranging from 0% to 2.5% depending upon the occupancy status of the property, the combined loan to value ratio, maintaining a Capitol Bank checking account and your credit worthiness.

 Any APR rate changes on your billing statement will be determined as disclosed above. See your billing statement for actual APR rate changes and effective dates. The APR will not exceed 18.00% or be less than 4.0%.

Other charges
An annual fee of $35.00 applies to all accounts and will be assessed on the anniversary date of the loan. Closing costs are limited to the cost of appraisal or title insurance, if required. Appraisal and title costs range from $200 to $1,000. Insurance on the property securing this loan is required and payable by the borrower.

Other requirements
This is a limited time offer and is subject to change. This offer is only valid in the State of Wisconsin and is subject to credit approval and property evaluation. Proceeds for this account may not be used to pay off an existing Capitol Bank line of credit unless an increase of $10,000 in line availability is established. Consult one of our mortgage lenders at 608-836-1616 for current rate and conditions.