Home Equity Line Of Credit (HELOC)
Make The Most Of Your Home’s Value
Use the value (equity) built up in your home as a flexible, convenient line of credit. Make purchases up to the maximum credit amount, and pay off the balance in easy monthly payments. Here’s an example of how it works*:
- If your home value is $150,000
- And the amount you owe on your home loan and other liens is $100,000
- Then your home equity is $50,000
- You may receive a line of credit up to $35,000, which is secured by the equity in your home.
- Use that credit to make purchases at any time during the credit term.
- Make monthly payments only on the amounts you’ve spent.
Using the home equity line of credit to make a purchase is as easy as writing a check. Home equity lines of credit have a variable interest rate which is adjusted monthly. Talk to one of our loan advisors to find out how to make your home’s equity work for you. Contact us today.
Citizens Bank also offers competitive, fixed-rate home equity loans. Learn about Citizens Bank’s home equity loans.
*This is a fictitious example for the purposes of explaining how a HELOC works. Actual amounts will vary. This is not a promise or guarantee of the amounts shown.
