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Home Equity Options

Get the most out of your home.

Both a home loan and a line of credit (HELOC) use your home’s equity and can be used for anything from home renovations and unexpected expenses to consolidating debt or paying for college.

What are the major differences between a Loan and Line of Credit?

Home Equity Line of Credit (HELOC)

  • Variable interest rate that adjusts with Prime Rate Prime Related Rate
    Prime Related Rate - It’s a benchmark set and used by financial institutions to determine how much interest to charge. Want to Learn More?
  • Access funds through online banking, our mobile app or with supplied checks
  • Available for a long-term borrowing period
  • During the borrowing period:
    • You are only required to make interest payments
    • Use your funds and pay them back as many times as you want
  • Now for a limited time new HELOC customers can save on their interest rate
Learn More


Home Equity Loan

  • Fixed interest rate
  • Fixed payments of principal and interest
  • After closing, you get the entire loan amount in one lump sum
Contact a Home Loan Originator
Home Equity Line of Credit

Home Equity Line of Credit

A home equity line of credit (HELOC) functions similarly to a credit card, use what you need, when you need it.

Unlock the Possibilities! Now for a limited time, new HELOC customers can save even more on their interest rate. Discount applied automatically. Calculate Your Rate and Payments

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LIMITED-TIME OFFER

New HELOC customers can take an additional 0.25% off their rate*

Home Equity Line of Credit
Line AmountAPR**Prime Related Rate
$17,500-$49,999 View Rates > View Rates >
$50,000-$99,999 View Rates > View Rates >
$100,000+ View Rates > View Rates >

**Rates listed above include the 0.25% discount for automatic payment from a Citizens checking account and the 0.25% Rate Reduction for new HELOC customers. Rates are effective as of #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=currentDate# and subject to change at any time. #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=Region Label# Region. For important additional information including how to obtain these rates, see full disclosures below.*

Home Equity Loan

Home Equity Loan Benefits

Our standard home equity loan can be used for the same purposes as a line of credit. The main difference is funds are given in one lump sum and a loan has a fixed interest rate and fixed monthly payment. Note, the rates and terms listed in this table are for loans in the second lien position, meaning you have an existing mortgage, loan, or line on your property and do not intend to pay it off with this new loan.

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10 Year Terms

10 Year Terms
Loan AmountTermAPR*
$10,000 - $49,999 10 Years View Rates >
$50,000 - $99,999 10 Years View Rates >
$100,000 - $399,999 10 Years View Rates >
$400,000+ 10 Years View Rates >

15 Year Terms

15 Year Terms
Loan AmountTermAPR*
$10,000 - $49,999 15 Years View Rates >
$50,000 - $99,999 15 Years View Rates >
$100,000 - $399,999 15 Years View Rates >
$400,000+ 15 Years View Rates >

20 Year Terms

20 Year Terms
Loan AmountTermAPR*
$10,000 - $49,999 20 Years View Rates >
$50,000 - $99,999 20 Years View Rates >
$100,000 - $399,999 20 Years View Rates >
$400,000+ 20 Years View Rates >

*Rates listed above include all discounts and are effective as of  #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=currentDate# and subject to change at any time. For important additional information including how to obtain these rates, see full disclosures below.

10-Year First Lien Position Home Equity Loan

10-Year First Lien Position Home Equity Loan

You may qualify for an even lower home equity rate with a First Lien Position Home Equity Loan. This product is for borrowers with no other mortgages or liens on the property, or who intend to pay off an existing first mortgage with a new home equity loan. Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.
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10-Year First Lien Position Home Equity Loan
APR*DETAILS
Views Rates >
  • No closing costs
  • Close in about 30 to 45 days
  • Interest may be tax deductible; consult your tax advisor1
  • Minimum loan amount of $50,000
  • Save 0.25 percentage points off your home equity interest rate with a Citizens Bank checking account2
  • Maximum loan-to-value (LTV) of 80%

*Rates listed above include all discounts and are effective as of  #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=currentDate# and subject to change at any time. For important additional information including how to obtain these rates, see full disclosures below.

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