Your HELOC timeline
From setting up your account to making your first payment, here's what to expect after your HELOC closing. If you have questions, we’re here to help 1-833-961-1100, Option 1.
Funds will be accessible by 2pm the business day after the rescission period ends. For example:
| Closing Day | Disbursement Day |
|---|---|
| Monday | Friday |
| Tuesday | Monday |
| Wednesday | Monday |
| Thursday | Tuesday |
| Friday | Wednesday |
| Saturday | Thursday |
Bank/Federal holidays may increase the distribution timeline. Funding will occur on the next available business day following a holiday or weekend. When a second home is used as collateral, funding will occur the next business day after closing.
Calendar Day 10
The earliest your statement will be mailed
Calendar Day 21
Receive your HELOC starter checks within 3 weeks of your closing
Calendar Day 30
The earliest your first payment is due
Your account & closing payoffs
Four business days after your closing, the Rescission Period will end and your account will be active. At this time, Citizens will deposit your funds (if requested), as well as process any required payoffs.
Lien payoffs
Citizens will send a wire transfer or check directly to the lien holder(s) on your behalf.
Citizens account payoffs
Citizens will pay off any designated Credit Card or Installment Loan accounts you have with the bank.
Non-Citizens (external) account payoffs
Citizens will send payoff checks made payable to your external creditors directly to you. Just add your Credit Card or Loan account number to the checks before mailing. Learn more.
Your statements & payments
- You will receive a statement each month (or can access through e-statements).
- Your statement will include your account activity, current balance, and payment due date.
- Your payment due will be based on your outstanding balance and activity during the statement period.
Note: To give you sufficient lead time before your first payment is due, your first HELOC statement may be mailed as early as 9 calendar days after your closing and will reflect a partial billing cycle. After that, your statements will be based on a full billing cycle and your payments may be higher.
5 simple ways to make your HELOC payment
1. Auto Pay
Enroll in Auto Pay to ensure that your monthly payments are always on time. Set up via Online Banking or call 1-866-999-0216.
2. Online & Mobile Banking*
Pay online, anytime, from your Citizens Checking or Savings account, or from another financial institution with Online Banking or our Mobile app*.
3. By Phone
Call 1-888-805-0200 to Pay by Phone or 1-866-999-0216 to speak with a Loan Servicing Specialist.
4. By Mail
Mail payments to:
Citizens
P.O. Box 42008
Providence, RI 02940-2008
Home Equity Resource Center
Helpful tools and resources
Getting Started
Prepare for closing and account access
Frequently Asked Questions
Still have questions? Explore our FAQs
© Citizens Financial Group, Inc. All rights reserved. Citizens is a brand name of Citizens Bank, N.A. Member FDIC
Home Equity Lines of Credit are offered and originated by Citizens Bank, N.A. (NMLS ID# 433960) All loans are subject to approval.
*Wireless carrier, text and/or data charges may apply.
