Home Equity Loans

Funding your dreams starts at home

The Funds You Need

Lump sum funds are available for specific needs.

No Surprises

Fixed monthly payments make for predictable monthly budgets.

Flexible Terms

Home equity loan terms are available from 5 to 15 years.D


Let your home fuel your goals

Transform your home's equity into funds that help you achieve your goals.

  • Rates may be lower than a personal loan
  • Interest may be tax deductibleD
  • Get flexible terms and fixed payments
Digital Banking

Bank from anywhere with your mobile devices

Track your spending habits

Seamlessly move your money

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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

Rewards Credit Card

Earn more rewards every day

Get more points on everyday spending categories like groceries, gas and streaming services.
Free Checking

Keep banking simple with free checking

Enjoy the freedom of no monthly maintenance fee when you enroll in paperless statements.

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.

To qualify for a home loan, you'll need to complete an application with the following information:

  • Name
  • Property address
  • Photo ID (drivers license or passport)
  • Employment and income information
  • Amount you wish to borrow

We'll review your credit application in accordance with our normal credit approval processes.

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

Normal credit approval applies.

An example of a typical extension of credit with a home equity loan is as follows: An amount financed of $100,000 with a term of 180 months and an APR of 5.10%. The borrower will make 180 monthly payments of $790.27.

Consult your tax advisor regarding the deductibility of interest.

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

Some restrictions apply.