If you have plans to renovate your home, make a major purchase, pay for college or consolidate your debt, a First Citizens EquityLoan may be your solution. It allows you to turn the equity in your home into the cash you need.
Benefits of a Home EquityLoan:
Lump sum of funds available for a specific need
Up to 89.9%1 loan-to-value financing on your primary home
Fixed monthly payments
Interest may be tax deductible2
Terms available from 5 to 15 years (2nd lien position)
2. Ask your tax advisor about the deductibility of loans secured by your home.
Normal credit approval applies. Certain restrictions may apply.
An example of a typical extension of credit is as follows: Rates are accurate as of October 1, 2016 and are subject to change without notice. An amount financed of $20,000 at a term of 60 months with an annual percentage rate of 4.653% would result in 60 monthly payments of $374.98.
1. The Annual Percentage rate (APR) will be determined based on the term and applicable loan fee. An example of a typical extension of credit is as follows: As of October 1, 2016, an amount financed of $20,000 at a term of 60 months with an APR of 4.653% would result in 60 equal monthly payments of $374.98. Rates are subject to change daily without notice. Please see your banker. Normal credit approval applies.
Account openings and credit are subject to Bank approval.