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Home Equity Line of Credit: As of 8/31/2016, our best rates are as follows:

  • CT, DE, MA, MI, NH, NJ, OH, PA, RI and VT: Prime minus 0.50% (3.00% APR) for line amounts of $100,000 or more.

  • NY: Prime minus 0.01% (3.49% APR) for line amounts of $100,000 or more.

Obtaining the best rate featured above requires the following criteria to be met:

  • A new home equity line of credit application for the amount listed above.
  • Line must be in first lien position.
  • An initial draw of at least $25,000 at closing.
  • 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 rate discount.
  • A loan-to-value (LTV) of 70% or less.

Variable Annual Percentage Rate (APR) based on The Wall Street Journal “Prime Rate” (“Prime”) published on the last business day of the month (3.50% APR as of 8/31/2016). Maximum APR 21%, (18% in NJ and PA). Minimum APR 2.50%.

1- to 4-family owner-occupied properties, condominiums, and 2nd / vacation home owner-occupied properties. Home equity line of credit (HELOC) originated only on properties located in CT, DE, IL, IN, KY, MA, ME, MI, NH, NJ, NY, OH, PA, RI or VT. 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). Rate and terms may change at any time and vary by property type, state where property is located, loan amount, credit history, lien position, and loan-to-value (LTV) ratio, debt-to-income (DTI) ratio, FICO score and draw amount at closing. Subject property ownership for a minimum of six months may be required and 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. A trust review fee ranging from $75 to $100, as well as recording fees ranging from $10 to $175, may apply for properties held in trust. No annual fee first year, then $50 per year. If you pay off the entire balance and close your HELOC before the due date, you may be charged a fee. No pre-payment fee in NJ and PA. Offer not available on CAPPED RATE HOME EQUITY LINE OF CREDIT®. Rates subject to change, and minimum line amounts apply. Please call a Home Loan Originator or see a banker for more details. Draw not required. Interest-only minimum payments required during the 10-year draw period. Principal and interest payments required during the repayment period after the draw period ends. Home equity lines of credit are available in first, second or third lien positions. Third liens are only available if the bank is in second lien position. All accounts are subject to individual approval. Consult your tax advisor regarding deductibility of interest.

Capped Rate Home Equity Line of Credit: APR will be capped for the 7-year draw period. Rates subject to change, and minimum line and draw amounts apply. See a banker or call a Home Loan Originator for more details. Citizens Bank consumer checking account required. Interest- only payment is available only during the first 7 years.

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 8/31/2016, 3.88% APR is available for qualifying properties in CT, DE, MA, MI, NH, NJ, OH, PA, RI and VT (4.13% 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 4.13% APR results in 120 monthly payments of $509.32. 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 8/31/2016, 3.88% APR is available for qualifying properties in CT, MA, NH, RI, and VT, 3.99% APR is available for qualifying properties in DE, 4.24% APR is available for qualifying properties in NJ and PA, 4.49% APR is available for qualifying properties in NY and OH, and 4.74% APR is available for qualifying properties in MI, with a loan-to-value (LTV) of 70% or less for loans of $75,000 to $399,999, with auto-deduction from Citizens Bank consumer checking account and a 10-year term. An equity loan of $75,000 with a 10-year term at 4.74% APR results in 120 monthly payments of $785.99. 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.


Choose Your Payment Home Equity Loan: The following rates are our best rates for a 10-year term. As of 8/31/2016, 3.88% APR is available for qualifying properties in CT, MA, NH, RI, and VT, 3.99% APR is available for qualifying properties in DE, 4.24% APR is available for qualifying properties in NJ and PA, 4.49% APR is available for qualifying properties in NY and OH, and 4.74% APR is available for qualifying properties in MI, with a loan-to-value (LTV) of 70% or less for loans of $75,000 to $399,999, with auto-deduction from Citizens Bank consumer checking account and a 10-year term. An equity loan of $75,000 with a 10-year term at 4.74% APR results in 120 monthly payments of $785.99. Your actual APR may be higher based on a review of your credit application. Other rates and terms available. Current rates and terms apply. Maximum twenty year repayment period for the Choose Your Payment Home Equity Loan®. 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. Offer subject to change without notice. 1 to 4-family owner-occupied properties only. 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). 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. All accounts are subject to individual approval. Consult your tax advisor regarding deductibility of interest.

Mortgages:

Citizens Bank Mortgage Discount: Citizens Bank consumer checking account set up with automatic monthly mortgage payment deduction required at time of loan origination to be eligible for the 0.125 percentage point rate discount. One offer per property. Not applicable to Bond or CRA loan programs. Other exclusions and restrictions may apply.


Rates are subject to change. Rates apply to new accounts and may not be applied to existing accounts.

All accounts, loans, and services are subject to individual approval. Offers may be withdrawn without notice.

 

Mortgages and Home Equity Loans are offered and originated by Citizens Bank, N.A. (NMLS ID# 433960).