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Find a home loan that can help you achieve your next goal.
Intended use |
Home improvements |
Your choice |
Your choice |
---|---|---|---|
Interest rate |
Fixed |
Variable |
Fixed |
Time to receive funds |
Typically by next dayD |
Average of 35 daysD |
Average of 35 daysD |
Collateral required |
icon: sys-close |
Secured by 1st or 2nd deed of trust |
Secured by 2nd deed of trust |
Terms |
Up to 84 monthsD |
25-year term: 10-year draw period and 15-year repayment period |
Up to 15-year fixed rate termD |
Repayment options |
Principal + interest |
Interest only or principal + interest |
Principal + interest |
Closing costs and origination fees required |
$100 origination fee |
Closing costs and no origination fee |
Closing costs and 0.75% origination fee |
Continuous access to funds |
icon: sys-close |
icon: sys-checkmark |
icon: sys-close |
Tax deductible interestD |
icon: sys-close |
icon: sys-checkmark |
icon: sys-checkmark |
Normal credit approval applies.
One home improvement loan per customer.
Some restrictions apply.
Terms and conditions subject to change.
Account openings and credit are subject to bank approval.
First Citizens checking account is recommended. Property insurance is required. Title insurance and flood insurance may be required.
Consult your tax advisor regarding the deductibility of interest.
Annual Percentage Rate (APR) is 6.25% as of May 7, 2025, to qualifying applicants for a fixed-rate home equity loan amortized over 60 months. APR is based upon a rate of 5.94%, an origination fee of 0.75%, closing costs of $150 and a loan-to-value up to 85%.
For example: A home equity loan with an amount financed of $100,000 at a 5.94% fixed rate and including a 0.75% origination fee and $150 in closing costs would have an APR of 6.25%, and you would make 60 payments of $1,930 and pay total interest of $15,829.
For example: A home improvement loan with an amount financed of $50,000 at a 6.02% fixed rate and including a $100 origination fee would have an APR of 6.15%, and you would make 36 payments of $1,522 and pay total interest of $4,776. Current APRs range from 6.11% to 7.56% APR. Loans are available in the amounts of $10,000 to $75,000. Term lengths of up to 84 months are available.
Disbursement of loan funds requires an approved application, signed loan agreement and customer's funding preference. Funding should generally be completed on the same day or next business day once the application is taken. Approval process may take longer if additional documents are needed. Availability of funds may take longer if funds are deposited into an account at another financial institution.
Disbursement of funds based on open date for the loan and follows all approvals and required documentation.
Links to third-party websites may have a privacy policy different from First Citizens Bank and may provide less security than this website. First Citizens Bank and its affiliates are not responsible for the products, services and content on any third-party website.
Bank deposit products are offered by First Citizens Bank. Member FDIC and an Equal Housing Lender. icon: sys-ehl.
NMLSR ID 503941
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