Home Equity Lines of Credit

Put your home equity to work for you

Competitive Rates

Qualify for a low rate when you take equity out of your home.

Flexible Payments

We'll work together to find a payment option that works for you.

Overdraft Protection

Use your equity line as overdraft protection on First Citizens accounts.D

Benefits

Get a home equity line of credit

You've worked hard for your home. Now put that equity to work to achieve your goals.

  • Complementary PremierD or PrestigeD checking account
  • Interest may be tax deductibleD
  • Conveniently access your funds with checks or your EquityLine Visa® or transferring to your checking account in Digital Banking
  • Lock in your rate with the fixed-rate option
Digital Banking

Bank from anywhere with your mobile devices

Track your spending habits

Seamlessly move your money

Set alerts for transactions

Learn more about digital banking
Digital Banking

Bank from anywhere with your mobile devices

Track your spending habits

Digital Banking

Bank from anywhere with your mobile devices

Seamlessly move your money

Digital Banking

Bank from anywhere with your mobile devices

Set alerts for transactions

Learn more about digital banking
Cash Rewards

Get cash back on every purchase

Keep it simple. Earn unlimited cash back and pay no annual fee with our Cash Rewards credit card.
Learn more about our cash rewards credit card
Free Checking

Keep banking simple with free checking

Enjoy the freedom of no monthly maintenance fee when you enroll in paperless statements.
Learn more about our free checking account
FAQ

People often ask us

There are a few key differences between a home equity loan and a line of credit, including:

  • Interest rate: Home equity loans offer a fixed rate for the life of the loan or with a balloon payment dependent upon the loan term. Home equity lines of credit, or HELOCs, typically offer a variable interest rate option.
  • Access to funds: A home equity loan provides you the money in an upfront lump sum and you repay over a defined period of time. On the other hand, a HELOC gives you ongoing access to your available credit. As you repay the balance during the draw period, those funds are made available for you to use again.
  • Payment options: Most often, a home equity loan will have fixed payments for the entire term of the loan while a HELOC offers flexible payment options based on the current balance of the loan during the draw period.

Your home’s equity can be calculated by subtracting any outstanding mortgage balance(s) from the market value of the property. For example, if the appraised value of your home is $250,000 and the principal balance remaining on your mortgage is $150,000, then your home equity is $100,000. This is the portion of your home that you own.

Lenders typically set a maximum loan-to-value, or LTV, ratio limit for how much they will allow customers to borrow in a home equity loan or home equity line of credit. To calculate how much, you must know these three things:

  • Your home's value
  • All outstanding mortgages on the property
  • Your lender's maximum LTV limit

Simply multiply the home's value by the LTV and then subtract the outstanding mortgage amount.

You should be able to access your home equity account normally within 3 business days after your closing.

There are several options available to you as you near the end of draw period on your equity line. For more information, please see our Home Equity Line of Credit End of Draw Options.

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.

Some restrictions apply.

With qualifying EquityLine. The minimum line amount required is $25,000 or more.

With qualifying EquityLine. The line amount required is $100,000 or more.

Consult your tax advisor regarding the deductibility of interest.

We may charge your checking account a flat fee for each day an overdraft protection transfer occurs.

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Bank deposit products are offered by First Citizens Bank. Member FDIC and an Equal Housing Lender. icon: sys-ehl.