Citizens Bank Home Equity
Line of Credit Calculator

Adjust the options below to find
the loan that's right for you
State where your home is located
If the property is located in a state not listed, please call 1-888-333-1206.

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Amount you want to borrow
How much will you be requesting for this line of credit?
Amount you need now
Please enter the amount you need now that you will draw at closing.

Your home value
What is the current estimated value of the property you will be borrowing the line of credit against?
Amount you owe on your home
How much is left to pay on your current mortgage(s)?

Pay off current mortgage(s) with HELOC

Discounts
Select all that Apply
Save 0.25 percentage points off your interest rate with automatic monthly payments from a Citizens Bank checking account, set up at the time of origination.
Save 0.25 percentage points for drawing at least $25,000 from your line of credit at closing.

Your Home Equity Line of Credit results

The estimates below include the criteria you selected above. Your estimated monthly payment is an interest only payment during your 10 year draw down period. These results are only estimates. Your final loan term will be available after applying.
The rate shown is an estimate of the lowest rate available based on the above selected criteria and requires strong creditworthiness. This interest rate is variable and the monthly payment is an interest-only payment that will change over the 10-year draw period. At the end of the 10-year draw period, your monthly payment will increase, possibly significantly, as you will be required to pay principal and interest every month for a 15-year repayment period. If you pay more than the minimum payment each month it will reduce your outstanding principal payments. See ASSUMPTIONS below.
BORROWED
MINIMUM MONTHLY PAYMENT
VARIABLE INTEREST RATE *
TERM

Any questions about our Home Equity Line of Credit? Ask a Citizen. We have a team of Home Loan Originators who are ready to help with all your home borrowing needs. Simply call 1-888-333-1206.

Ready to apply? Whether you're planning a home improvement or looking to consolidate debt, we can help you access your home’s equity.

*ASSUMPTIONS: The rate shown is an estimate of the lowest rate available based on the above selected criteria and requires strong creditworthiness. This interest rate is variable and the monthly payment is an interest-only payment that will change over the 10-year draw period. At the end of the 10-year draw period, your monthly payment will increase, possibly significantly, as you will be required to pay principal and interest every month for a 15-year repayment period. If you pay more than the minimum payment each month it will reduce your outstanding principal payments. Your actual rate may be different based on credit history and property value. Citizens Bank reserves the right to modify interest rates at any time without notice. Such changes will only apply to applications taken after the effective date of change.

Home Equity Line of Credit: As of 1/1/2017, our best rates are as follows:

  • CT, DE, MA, MI, NH, NJ, OH, PA, RI and VT: Prime minus 0.50% (3.25% APR) for line amounts of $100,000 or more.
  • NY: Prime minus 0.01% (3.74% 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 line amounts of $100,000 or more.
  • Line must be in first lien position.
  • An initial draw of at least $25,000 at loan origination to qualify for the 0.25 percentage points discount.
  • At origination, sign up to have your monthly payments automatically deducted from any Citizens Bank consumer checking account to qualify for the 0.25 percentage points discount.
  • A loan-to-value (LTV) of 70% or less (80% or less in NY).
  • Strong Creditworthiness

Variable Annual Percentage Rate (APR) based on The Wall Street Journal "Prime Rate" ("Prime") published on the last business day of the month (3.75% APR as of 1/1/2017). 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, loan-to-value (LTV) ratio, debt-to-income (DTI) ratio, credit 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. Trust review fees ranging from $75 to $100, as well as recording fees ranging from $10 to $175, may apply for properties held in trust. For accounts with power of attorney (POA), a POA recording fee ranging from $10 to $175 and a POA affidavit fee ranging from $10 to $175 may apply. If your property is held by a business, a review fee may apply from $75 to $100. No annual fee first year, then $50 per year. Pre-payment fee of $350 if closed within first 36 months. No pre-payment fee in NJ and PA. 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 to open an account. Home equity lines of credit are available in first, second or third lien positions. Third liens are only available if Citizens Bank is in second lien position. Consult your tax advisor regarding deductibility of interest.
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.