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Funding your dreams starts at home

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- Home Equity Lines of Credit
- Home Equity Loans

Unlock the potential of your home's built-up equity

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.

Access to funds you need

Lump-sum funds are available for specific needs.

No surprises

Fixed monthly payments make for predictable monthly budgets.

Flexible terms

Home equity loan terms are available from 5 to 15 years.

Let us help you make the most of your home's equity

Rates as low as
6.25% APRD

For a backyard pool

For home renovations

How can I use my home equity?
Get quick, easy access to the funds you need

For a large purchase

Equity Loan Benefits
Let your home fuel your goals

Transform your home's equity into funds that help you achieve your goals.

- Rates may be lower than a personal loan

- Interest may be tax deductibleD

- Borrow up to 89.99% of your home's equity

- Get flexible terms and fixed payments


Loan-to-value calculator
Determine your home's equity

Use this calculator to estimate how much you have available based on your home's loan-to-value ratio.

How to get started

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.

Step 1
Submit your application

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.

Step 2
Underwriting and appraisal

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.

Step 3
Get final approval

In this phase, an underwriter reviews all documentation to complete final approval. Your banker will communicate final approval to you.

Step 4
Prepare for closing

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.

Step 5
Closing

Finally, you'll sign documents to officially open your home equity loan.

FAQ
People often ask us

Here are a few key differences between a home equity loan and a line of credit.

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.

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.

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 based on the current balance of the loan during the draw period.


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.

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:

- Your home's value

- All outstanding mortgages on the property

- Your lender's maximum LTV limit


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.

To qualify for a home loan, you'll need to complete an application with the following information:

- Name

- Property address

- Photo ID (driver license or passport)

- Employment and income information

- Amount you wish to borrow


We'll review your credit application in accordance with our normal credit approval processes.

You should be able to access your home equity account normally within 3 business days after your closing.

Insights
A few financial insights for your life

Comparing loans for home improvement

Pros and cons of home renovations

Ensure a smooth home renovation with smart budgeting

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%.

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.

Consult your tax advisor regarding the deductibility of interest.

Credit and collateral subject to approval. Rates, terms and conditions are subject to change at any time based on market conditions or other business factors.

Links to third-party websites may have a privacy policy different from First Citizens Bank and may provide less security than this website. First Citizens Bank and its affiliates are not responsible for the products, services and content on any third-party website.

Bank deposit products are offered by First Citizens Bank. Member FDIC and an Equal Housing Lender. icon: sys-ehl.

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