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 <br>Funding your dreams starts at home<br>
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 <br>- Home Equity Lines of Credit
 - Home Equity Loans<br>
 <br>Unlock the potential of your home's built-up equity<br>
 <br>You've invested a lot of equity in your home over the years. A home equity loan can help you tap into this value and use it to achieve your goals.<br>
 <br>Access to funds you need<br>
 <br>Lump-sum funds are available for specific needs.<br>
 <br>No surprises<br>
 <br>Fixed monthly payments make for predictable monthly budgets.<br>
 <br>Flexible terms<br>
 <br>Home equity loan terms are available from 5 to 15 years.<br>
 <br>Let us help you make the most of your home's equity<br>
 <br>Rates as low as
 6.25% APRD<br>
 <br>For a backyard pool<br>
 <br>For home renovations<br>
 <br>How can I use my home equity?
 Get quick, easy access to the funds you need<br>
 <br>For a large purchase<br>
 <br>Equity Loan Benefits
 Let your home fuel your goals<br>
 <br>Transform your home's equity into funds that help you [achieve](https://preconcentral.com) your goals.<br>
 <br>- Rates may be lower than a personal loan
 <br>- Interest may be tax deductibleD
 <br>- Borrow up to 89.99% of your home's equity
 <br>- Get flexible terms and fixed payments
 <br>
 Loan-to-value calculator
 Determine your home's equity<br>
 <br>Use this calculator to estimate how much you have available based on your home's loan-to-value ratio.<br>
 <br>How to get started<br>
 <br>If you're unsure how to open a home equity loan, don't worry. First Citizens is here to guide you and make each step as simple as possible.<br>
 <br>Step 1
 Submit your application<br>
 <br>The first step toward opening a home equity loan is starting a conversation with one of our expert bankers and submitting an application for pre-approval.<br>
 <br>Step 2
 Underwriting and appraisal<br>
 <br>Once you've submitted your application, we'll work with you to gather and review important documents. This can include a credit report, personal financial information and a home appraisal.<br>
 <br>Step 3
 Get final approval<br>
 <br>In this phase, an underwriter reviews all documentation to complete final approval. Your banker will communicate final approval to you.<br>
 <br>Step 4
 Prepare for closing<br>
 <br>Before closing, we'll contact you to discuss and review your loan approval. You'll review disclosures, discuss expected fees, provide any additional documentation needed and verify the closing date.<br>
 <br>Step 5
 Closing<br>
 <br>Finally, you'll sign documents to officially open your home equity loan.<br>
 <br>FAQ
 People often ask us<br>
 <br>Here are a few key differences between a home equity loan and a line of credit.<br>
 <br>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, although you can choose to fix a portion or all of the variable balance.
 <br>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.
 <br>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](https://winnerestate-souththailand.com) based on the current balance of the loan during the draw period.
 <br>
 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.<br>
 <br>Lenders typically set a maximum loan-to-value, or LTV, ratio limit for how much they'll 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:<br>
 <br>- Your home's value
 <br>- All outstanding mortgages on the property
 <br>- Your lender's maximum LTV limit
 <br>
 Simply multiply the home's value by the lender's maximum LTV limit and then subtract the outstanding mortgage amount. For reference, First Citizens sets a maximum LTV limit of 89.99% for home equity loans and home equity lines of credit.<br>
 <br>To qualify for a home loan, you'll need to complete an [application](https://vintara.co.uk) with the following information:<br>
 <br>- Name
 <br>- Property address
 <br>- Photo ID (driver license or passport)
 <br>- Employment and income information
 <br>- Amount you wish to borrow
 <br>
 We'll review your credit application in accordance with our normal credit approval processes.<br>
 <br>You should be able to access your home equity account normally within 3 business days after your closing.<br>
 <br>Insights
 A few financial insights for your life<br>
 <br>Comparing loans for home improvement<br>
 <br>Pros and cons of home renovations<br>
 <br>Ensure a smooth home renovation with smart budgeting<br>
 <br>Annual Percentage Rate (APR) is 6.25% as of May 7, 2025, to qualifying applicants for a fixed-rate home equity loan amortized over 60 months. APR is based upon a rate of 5.94%, an origination fee of 0.75%, closing costs of $150 and a loan-to-value up to 85%.<br>
 <br>For example: A home equity loan with an amount financed of $100,000 at a 5.94% fixed rate and including a 0.75% origination fee and $150 in closing costs would have an APR of 6.25%, and you would make 60 payments of $1,930 and pay total interest of $15,829.<br>
 <br>Consult your tax advisor regarding the deductibility of interest.<br>
 <br>Credit and [collateral subject](https://nigeria.globalpropertycenter.com) to [approval](https://rivieramayaresidences.com). Rates, terms and conditions are subject to change at any time based on market conditions or other business factors.<br>
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 <br>Bank deposit products are offered by First Citizens Bank. Member FDIC and an Equal Housing Lender. icon: [sys-ehl](https://pennyrealtors.witorbit.com).<br>
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