Use Your Home Equity

The equity in your home can help you pay for home improvements, consolidate debt or give you peace of mind knowing that cash is available if you need it.

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Today's home equity rates

Rates effective as of Month D, YYYY. For details about rates and other information, view important disclosures.

Choosing between a home equity line and loan

  • Learn more about Home Equity Lines of Credit

    A Home Equity Line of Credit (HELOC) is a form of revolving credit in which your home serves as the collateral. It is comprised of a draw period when you can access the funds and a repayment period during which you can no longer draw funds. A HELOC is approved for a specific amount that can be drawn on multiple times as needed, up to your available credit limit.

  • Learn more about Fixed Rate Home Equity Loans

    A Fixed Rate Home Equity Loan provides you with a fixed amount of money, repayable over a fixed period of time. The payment schedule will call for equal monthly Principal and Interest payments that pay off the entire loan within the loan period.

Don't have equity in your home? Explore personal lines and loans

Budget with home equity calculators

Our calculators help you explore your home equity options and determine how much you can borrow and how much your home equity payments will be based on a line or loan amount.

See all calculators

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1-877-362-9100

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1-877-362-9100

Mon-Sun: 9:00 AM to 11:00 PM ET

Important disclosures

Terms, conditions and fees for accounts, programs, products and services are subject to change.

Home equity lines and loans are not offered for collateral properties located in Alaska. A home equity line or loan is available for single family residential properties (including co-ops in New York, Illinois, District of Columbia, New Jersey and Maryland). Home equity lines are also available for 2-4 family homes that are primary residences (excluding Texas). Home equity loans are also available for 2-family homes that are primary residences (excluding Texas). In Texas, home equity lines and loans are only available on collateral properties that are single family, primary residences. Home equity loans are not available in 1st lien position if the collateral property is located in New York. Home equity lines and loans are not available for mobile homes in any state. Certain limitations apply. Lines of credit and loans are subject to credit approval. Rates are subject to change without notice. All rates are current as of 12/04/2016.

For Home Equity Lines of Credit: Variable Annual Percentage Rate (APR) can be as low as Prime plus 0.59% (currently 4.09% variable APR) and as high as Prime plus 3.74% (currently 7.24% variable APR). To qualify for the lowest rate, customers must meet relationship balance requirements (as of the closing date); have excellent credit; use Citibank Auto Deduct (an automated monthly debit from a Citibank deposit account) for repayment; meet certain loan-to-value and lien position requirements; take an initial draw of at least $25,000 at closing; and have a line amount of at least $100,000. Rates will vary depending on the state where the collateral property is located. Additional rate discounts may apply. The variable APR is indexed to the Prime Rate as published in the "Money Rates" section of The Wall Street Journal. Maximum APR is 18%. Annual fee: $50 during the draw period (not applicable if collateral property is located in Texas). Customers who elect to pay closing costs will receive an additional 0.25% to 0.50% rate reduction (not applicable if the collateral property is located in Texas). Closing costs can range from approximately $672 to $18,217, except in New York where they can range from approximately $716 to $24,527. Closing costs may vary based upon the line amount, property location and title insurance required. An Early Closure Release Fee may be charged to recover all costs incurred for originating your loan and may apply if you close your account within 36 months (not applicable if collateral property is located in Texas). Property insurance and the fee to release an existing mortgage may be required. Applicable for loan sizes up to $1 million. No 3rd lien positions. Home Equity Lines of Credit are available to U.S. residents only.

For lines with a 5-year draw period, your monthly minimum payments during the draw period can be as low as "interest-only". If you choose to pay only the amount of interest due, then at the end of the interest-only period you will still owe the original amount you borrowed and your monthly payments will increase because you must pay back the principal as well as interest. Your payment could increase even more if your variable rate increases. Citibank offers Home Equity Lines of Credit with 5-year draw and 10-year draw periods. Home Equity Lines of Credit with a 5-year draw period are also available in combination with a Citi mortgage. Please speak to a personal banker for more details.

For Fixed Rate Home Equity Loans: Your Annual Percentage Rate (APR) may be as low as 5.99% APR (as low as 6.24% for New York properties) or as high as 7.74% APR (as high as 7.99% for New York properties). To qualify for the lowest rate, customers must meet loan amount and term requirements, use Citibank Auto Deduct (an automated monthly debit from a Citibank deposit account) for repayment and have excellent credit history. If you borrow $50,000 for 30 years at 7.24% APR, assuming no down payment, you will make 360 payments of approximately $340.75. An Early Closure Release Fee may be charged to recover all costs incurred for originating your loan if you close your account within 36 months (not applicable if the collateral property is located in Texas). Property insurance and the fee to release an existing mortgage may be required.

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