Home Equity Options
Copyright 2017 Citizens Financial Group, Inc. All rights reserved.
Citizens Bank is a brand name of Citizens Bank, N.A. (NMLS ID# 433960) and Citizens Bank of Pennsylvania (NMLS ID# 522615).
Citizens Bank corporate headquarters: One Citizens Plaza, Providence, RI 02903
* Home Equity Line of Credit. Variable Annual Percentage Rate ( APR ) is based on The Wall Street Journal Prime Rate ( Prime ) published on the last business day of the month, ( #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_VARIABLE_APR# APR as of #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_last_day# ). Maximum APR 21% (18% in NJ and PA). Minimum APR 2.5%.
The best rate in CT, DE, MA, MI, NH, NJ, OH, PA, RI and VT is Prime 0.50% ( #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_HELOC_APR_OTHER# APR) and in NY the best rate is Prime 0.01% ( #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_HELOC_APR_NY# APR) as of #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_date#.
Obtaining the best rate featured requires the following criteria to be met: 1) A new home equity line of credit application, 2) A line amount of $100,000 or more, 3) Line must be in first lien position, 4) Having a Citizens Bank consumer checking account, set up with automatic monthly payment deduction at closing, 5) A loan-to-value (LTV) of 70% or less (80% or less in NY), and 6) Strong credit.
Eligible properties include owner-occupied 1- to 4-family properties, condominiums, and 2nd/vacation homes. Ineligible properties include, but are not limited to: investment property (defined as non-owner occupied property), a co-op, mobile home, or manufactured housing. Property must be located in CT, DE, IL, IN, KY, MA, ME, MI, NH, NJ, NY, OH, PA, RI or VT. Rate and terms are subject to change. Home equity lines of credit are available in first or second lien positions. Not available for homes currently for sale. Homes previously listed for sale must be off the market for at least ninety days prior to application. Property insurance required. Flood insurance may be required. No annual fee for the first year, then $50 per year thereafter. Pre-payment fee of $350 if closed within the first 36 months. No pre-payment fee in NJ and PA. Minimum line amounts apply.
Home Equity Loan. All Annual Percentage Rates (APRs) assume payment by auto-deduction from Citizens Bank consumer checking account. Rate and terms may change at any time. Offer subject to change without notice. Not available for homes currently for sale. Homes previously listed for sale must be off the market for at least ninety days prior to application. Property cannot be an investment property, co-op, mobile home or manufactured housing (mobile homes – including those on own land, on permanent foundation, and including single and double wide). Property insurance required. Flood insurance may be required. All accounts and services subject to individual approval. Consult your tax advisor regarding deductibility of interest.
First Lien Position. The following rates are our best rates for a 10-year term. As of #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_date#. #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_FIRST_LIEN_APR_OTHER# APR is available for qualifying properties in CT, DE, MA, MI, NH, NJ, OH, PA, RI and VT ( #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_FIRST_LIEN_APR_NY# APR in NY) with a loan-to-value (LTV) of 80% or less for loans of $50,000 or more with auto-deduction from Citizens Bank consumer checking account and a 10-year term. An equity loan of $50,000 with a 10-year term at #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_FIRST_LIEN_APR_NY# APR results in 120 monthly payments of #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_FIRST_LIEN_APR_REPAYMENT#. Payment examples do not include escrow for property related taxes and insurance that must be paid separately. Single family residence, condo, 2- to 4-unit multi-family homes, and primary/secondary vacation homes held in first lien position only. First lien position home equity loans are only available to customers who do not have an existing mortgage or equity loan on the property or are planning to pay off an existing mortgage or equity loan with this new loan. First lien position home equity loans are only available for a 10-year term.
Second Lien Position. The following rates are our best rates for a 10-year term. Other rates and terms available. As of #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_date#. #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_2ND_LIEN_APR_OTHER# APR is available for qualifying properties in CT, MA, NH, RI, and VT, #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_2ND_LIEN_APR_DE# APR is available for qualifying properties in DE, #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_2ND_LIEN_APR_NJ_PA# APR is available for qualifying properties in NJ and PA, #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_2ND_LIEN_APR_NY_OH# APR is available for qualifying properties in NY and OH, and #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_2ND_LIEN_APR_MI# APR is available for qualifying properties in MI, with a loan-to-value (LTV) of 70% or less for loans of #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_2ND_LIEN_LOAN_AMT_LO# to #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_2ND_LIEN_LOAN_AMT_HI#. with auto-deduction from Citizens Bank consumer checking account and a 10-year term. An equity loan of #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_2ND_LIEN_LOAN_AMT_LO# with a 10-year term at #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_2ND_LIEN_APR_MI# APR results in 120 monthly payments of #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=HLS_2ND_LIEN_REPAYMENT#. Your actual APR may be higher based on a review of your credit application. 1 to 4-family owner-occupied properties only. Rate and terms may change at any time and vary by property type, loan amount, credit history, lien position, loan-to-value (LTV) ratio, debt-to-income (DTI) ratio and FICO score. Second lien position home equity loans are currently only available to customers who have an outstanding loan (first lien position) on their property and do not intend to pay it off with this new loan. We do offer home equity loans in third lien position. Third liens are only available if the bank is in second lien position.
1 Contact your tax advisor regarding the deductibility of interest.
2 Having a Citizens Bank consumer checking account, set up with automatic monthly payment deduction, is required at time of loan origination to be eligible for the 0.25 percentage point interest rate discount.