Fixed Rate Home Equity Loans

A Fixed Rate Home Equity Loan gives you a consistent monthly payment over a set period of time. It's made up of principal and interest, and remains the same throughout your loan term.

For details about home equity rates and other information, view important disclosures.


Principal is the amount of money you've borrowed or your outstanding loan balance. You pay a portion of the principal with each home equity loan payment.


Interest is the amount you're charged for borrowing money and is paid directly to your lender.

Calculate your monthly home equity loan payment

Amortization explained

Amortization is the decrease of your loan principal as you make monthly payments toward the principal and interest. The amortization period is the amount of time it will take for you to pay off your loan. The longer it takes to pay off a home loan, the more interest charged. Your monthly payment's interest portion is based on the scheduled amount that you owe each month.

For a Fixed Rate Home Equity Loan, your monthly payment stays the same, but the portion that goes toward principal increases over time. The payment's interest portion is based on the scheduled amount that you owe each month.

An amortization schedule shows a breakdown of your monthly payment into principal and interest components.

Sample amortization schedule

Loan Amount: $100,000 | Term of the Loan: 30 years | Interest Rate: 6.00%

1 month

Monthly interest
Monthly principal

233 months
(18.5 years)

Monthly interest
Monthly principal

360 months
(30 years)

Monthly interest
Monthly principal

Calculation results:


Monthly loan payments


Total amount paid over the life of the loan (including interest)

This table shows how the principal payment amount and the interest payment amount changes over time.

For this example, starting with payment number 223 (18½ years into the loan), the principal amount is larger than the interest. By the time the last payment is due, the interest is only $2.98 compared to the final principal payment of $596.57.

Citi offers Fixed Rate Home Equity Loans with terms in 5-year increments from 5 to 30 years.

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Important Disclosures

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

For Home Equity Lines of Credit with an interest-only 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. Home Equity Lines of Credit with an interest-only draw period are also available in combination with a Citi mortgage. Please speak to a personal banker for more details.

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