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Last Updated: 04/18/2025

Citizens Bank Home Equity Line of Credit

in Home Equity Lines of Credit from Citizens Bank

Last Updated: 04/18/2025

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Highlights

Credit Score Range

600 - 850

Amount Range

$10,000 - $500,000

Maximum LTV

80%

Minimum Draw

N/A

Loan Term (Years)

Citizens Bank Home Equity Line of Credit Review

Citizens Bank Home Equity Line of Credit is offered by Citizens Bank , a bank founded in 1828 and based in Providence, RI. Citizens Bank are available in 11 states.

Key Takeaways

Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for Citizens Bank Home Equity Line of Credit.
Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Maximum LTV. Citizens Bank Home Equity Line of Credit has a maximum loan to value ratio of 80%.

Citizens Bank Home Equity Line of Credit Pros & Cons

Pros

Cons

Considers applicants with fair credit.

Charges an origination fee.
Charges prepayment fees.
No co-sign option available.
Only available in 11 states.

Citizens Bank Home Equity Line of Credit FAQ

What are the terms for Citizens Bank Home Equity Line of Credit?

HELOCs include a draw period followed by a repayment period. During the draw period, borrowers can access funds as needed up to the credit limit.

Citizens Bank Home Equity Line of Credit offers home equity loans with terms ranging from 25 to 25 years.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What is the estimated funding time for a HELOC?

The HELOC through Citizens Bank can fund in as few as 45 days after approval.

What fees does Citizens Bank charge for a HELOC?

Citizens Bank Home Equity Line of Credit may charge an origination fee.

What types of property can you use as security for a HELOC with Citizens Bank?

Citizens Bank may consider HELOCs secured by the following property types:

Primary residences
Secondary or vacation homes

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Message from Citizens Bank

With our home equity line of credit, you’ll get expert guidance, low rates and no application or origination fees. Imagine that. Citizens Bank offers you great low rates, flexible payment options, and easy access to funds. We are here to help guide you every step of the way. Call to reach a loan specialist.

Contact

Headquarters

1 Citizens Plz

Providence, RI 02903

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SuperMoney Net Recommendation Score

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-1000+100

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