HELOC — Home Equity Line of Credit

Make moves with your home equity

From home renovations to surprise life expenses, a Home Equity Line of Credit (HELOC) can help you take care of the big stuff without big worries.

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1-800-248-4638¹

Mention offer code: 10818

For TTY: We accept 711 or other Relay Service. 
Se habla español.²

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HELOC

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Offer Code: 10818

Phone Number: 800-248-4638

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By providing us your telephone number, you are providing express “written” consent for Citibank, N.A. and their authorized third parties to call on their behalf at the number you’ve provided to offer and/or advertise their products and services (including, personal and small business credit, lending, and deposit products), even if your telephone number is currently listed on its internal Do Not Call list, or any state, or national Do Not Call list. You are not required to provide this consent as a condition of purchasing any property, goods, or services.

You may directly contact Citibank, N.A. to discuss mortgage products. By submitting this information, I consent to the above and agree to be contacted by Citibank, N.A. at the telephone number or email address provided..

Turn home equity into action

Pay off high-interest debts

Handle home renovations

Finance major life expenses

Rates for

Introductory variable APR³

for

months

Variable APR³

after introductory period

Introductory variable APR: Prime minus %. Variable APR after introductory period: Prime plus %.

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Rates are valid as of and subject to change.

View legal disclosures

BENEFITS

What are the benefits of a HELOC?

Lower interest rates

Compared to other types of financing like credit cards or personal loans, a HELOC can typically offer you a lower interest rate.

Manageable monthly payments

Use the money from a HELOC to pay off your higher-interest debts and consolidate everything into a single, lower-interest monthly payment.

Freedom to use your funds

Whether it’s for repairs, renovations or even college tuition, you have the flexibility to leverage your home equity however you need.

Use our home equity calculator

Find out how much you could potentially borrow based on the amount of equity you have in your home.

All fields required.

Your Home's Estimated Value:

Enter your home's total estimated value.

Your Existing Mortgage's Remaining Balance:

Enter the total outstanding balance of all current mortgages on your home.

You could be eligible for

140,000

You can apply online for a HELOC with a minimum loan amount from $10,000 up to $500,000.

If you'd like to borrow more, speak with a mortgage representative at 1-877-501-9128 (For TTY, we accept 711 or other Relay Service).

Your results are based on the information you entered and assume a maximum loan-to-value (LTV) ratio of 80%. Minimum loan amount may vary by state. For a Home Equity Line of Credit (HELOC), your line amount could be lower based on lien position, deposit relationships and other factors.

APPLY

Get ready for your HELOC

Determine your needs and eligibility

Consider what expenses you have and how you'd want to use a HELOC to help cover them. You may be eligible for a Principle & Interest or an Interest-only HELOC.

Use our home equity mortgage calculator

Enter your home's estimated value and your existing mortgage's remaining balance to see what type of HELOC you're eligible for.

Get started with a HELOC expert

Begin the application with a Citibank Mortgage Specialist by your side. Enter your information and we'll get in touch shortly or give us a call at 1-800-248-4638.

FAQs

A Home Equity Line of Credit (HELOC) is a revolving line of credit that’s secured against your home. Common uses include repairs and upgrades to your home, paying down higher-interest rate debt and paying for tuition or other expenses. HELOC interest rates are variable and may change over time.

HELOCs have a draw period and a repayment period. At Citi, your draw period is 10 years, while your repayment period will last for 20 years.

Throughout the draw period, you’re able to withdraw funds from your HELOC (up to your credit limit) whenever you need them and make interest only payments or payments on your outstanding balance, plus interest.

After the first 10 years, your HELOC transitions to the 20 year repayment period when you will no longer be able to withdraw funds and you will begin to pay off the outstanding balance of your credit line (plus interest).

To determine how much you may be able to borrow, we look at your home’s appraised value and your current mortgage balance. Together, they help us calculate your loan-to-value (LTV) ratio. This number gives us a sense of how much equity you have in your home, and how much you might be eligible to borrow. For a HELOC, you’ll want to have an LTV below 80%.

During the draw or repayment period, if you decide that you prefer the stability of a fixed rate, you can convert your outstanding balance, or a portion of it, to a fixed rate repayment term if your account is up to date and has a principal balance greater than $10,000.* Converting all or part of your outstanding balance from a variable HELOC rate to a fixed rate helps you avoid additional interest rate changes and may make monthly budgeting easier.  

*Not available for collateral properties in Texas. Additional limitations may apply.

With a Principal & interest HELOC, are the most common. With this HELOC, your minimum monthly payments during the draw period are made up of a combination of both principal and interest. You may choose to make additional principal payments at any time without penalty, to reduce your outstanding balance.

Interest-only HELOCs allow you to make interest-only payments on your outstanding balance during the draw period. Making interest-only payments means you're not paying down the principal and you might be surprised by the larger payments required during the repayment period. For an interest-only HELOC, you’ll want to find out if you meet eligibility requirements before you apply.

You may choose to make additional principal payments at any time without penalty to reduce your outstanding balance.

To be eligible for a Home Equity Line of Credit with an interest-only draw period, you need $200,000 or more in personal assets with Citi, or $1,000,000 or more in total personal assets (these do not have to be held in a Citi account). Personal assets include deposit accounts (checking, savings, money market, and Certificates of Deposit), unrestricted stocks, non-vested stock and restricted stock, bonds, annuities, and retirement accounts such as 401-Ks held by the individual who is personally liable on the loan. We’ll also review your credit and debt to ensure you meet our underwriting criteria.

Important Terms and Conditions

Terms, conditions, rates and fees for accounts, programs, offers, products and services are subject to change without notice at any time. No third lien positions. Available to U.S. residents only. A home equity line 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). In Texas, home equity lines are only available on collateral properties that are single family, primary residences. Home equity lines are not available for mobile homes or investment properties in any state. This is not a commitment to lend. All home equity lines and offers are subject to standard underwriting guidelines and required conditions. Certain restrictions apply. This offer contains information about U.S. domestic financial services provided by Citibank, N.A. and is intended for use domestically in the U.S. Citibank, N.A. is not responsible for the obligations of its affiliates. Illinois residents: If your current mortgage lender is not Citibank, NA, your mortgage lender had no part in helping us obtain your mortgage information.

¹ Calls are randomly monitored and recorded to ensure service quality.

² Please be advised that verbal and written communication from Citi may be in English as we may not be able to provide servicing related communications in all languages. These communications may include, but are not limited to, account agreements, statements and disclosures, change in terms or fees; or any servicing of your account. If you need assistance in a language other than English, please contact us as we have language services that may be of assistance to you.

Por favor, tenga en cuenta que las comunicaciones verbales y escritas de Citi podrían estar únicamente en inglés, ya que, tal vez, no podamos proporcionar comunicaciones relacionadas con los servicios en todos los idiomas. Estas comunicaciones podrían incluir, entre otras, contratos, divulgaciones y estados de cuenta, cambios en los términos o en los cargos, así como cualquier documento de mantenimiento de su cuenta. Si necesita ayuda en un idioma distinto al inglés, por favor, comuníquese con nosotros, ya que tenemos servicios de idiomas que podrían serle útiles.

³ Rates as of .
Introductory Offer - Prime minus %, currently % variable intro APR for months. After your Introductory Offer period, your featured rate may be as low as prime plus %, currently % variable APR. The featured rate after the introductory period ends assumes the following: Excellent credit, a maximum combined-loan-to-value of 70%, a collateral property in , and a first mortgage with another lender. Additional rate discounts may apply. Rates may vary depending on your individual situation. Maximum APR: 18.00%. The variable APR is indexed to the Prime Rate as published in The Wall Street Journal. Citi strives to make the home mortgage experience simple and enjoyable for everyone. If you have any questions about this information or have a competitive offer, please let your Mortgage Representative know, so we can work to meet your home lending needs.

Annual Fee: An annual fee of $50 during the draw period (not applicable if collateral property is located in Texas) applies. No annual fee will be charged if at the time of the account opening, you are an employee of Citigroup or its subsidiaries.

Closing Costs: For lines of $500,000 or less, Citibank will pay all applicable closing costs. A consumer may choose to pay closing costs in return for elimination of the Early Closure fee and/or to obtain a lower rate (not applicable if collateral property is in Texas). For lines greater than $500,000, the borrower will be required to pay applicable closing costs (not applicable if collateral property is in Texas).

Early Closure: If you close your line within the first 3 years, you will be assessed an early closure fee equal to the amount of third-party fees that Citi paid to close your loan (not applicable if collateral property is in Texas). The early closure fee will vary based on the property location, the total equity line amount, and other factors which will range from $680 - $22,000. Your lending representative can provide the estimated Early Closure fee applicable to you.

Insurance: Property insurance will be required; flood insurance is required where necessary.