Citizens Bank HELOC: how to apply now!
Find out how to apply for the Citizens Bank HELOC and get incredible perks for your home equity!
by Sabrina Paes
Online or by the app: it can be easy to apply for Citizens Bank HELOC!
If you’re a homeowner looking to access the equity in your primary or secondary home, Citizens Bank HELOC can be a great option. So, read on to apply for Citizens Bank HELOC!
Also, with competitive rates starting at 5.25% APR, low origination fees, and flexible terms of up to 15 years, this loan product offers a variety of benefits. But how do you apply for Citizens Bank HELOC? Let’s find out.
One way to apply for Citizens Bank HELOC is through their online application process. To get started, visit the Citizens Bank website and click on the “Apply Now” button for HELOC.
Also, from there, you’ll be asked to provide personal and financial information, including your name, address, employment status, income, and information about your home’s value and mortgage balance.
Therefore, once you’ve completed the online application, you’ll typically receive a decision within a few business days. If approved, you can start accessing your line of credit as needed.
You will be redirected to another website
Citizens Bank doesn’t disclose specific credit score requirements for their HELOC product.
However, they do state that your creditworthiness, income, and other factors will be taken into consideration during the application process.
Moreover, having a strong credit history and stable income can improve your chances of being approved for a HELOC.
In addition, you’ll need to have equity in your primary or secondary home to qualify for a HELOC. This means that the value of your home should be greater than the amount you owe on your mortgage.
Apply on the app
Another way to apply for Citizens Bank HELOC is through their mobile app. This can be a convenient option if you prefer to manage your finances on the go.
Therefore, to apply through the app, simply download the Citizens Bank app from the App Store or Google Play, and follow the instructions to apply for a HELOC.
Citizens Bank HELOC vs. Figure Home Equity Line of Credit: which one is the best for you?
When it comes to home equity lines of credit, there are several options on the market. One product that’s worth considering is the Figure Home Equity Line of Credit.
Also, while both offer HELOCs, they have different terms, fees, and requirements.
Citizens Bank HELOC has a lower starting APR at 5.25% compared to Figure’s 6.55%, but Figure offers a longer repayment term of up to 30 years.
Therefore, Citizens Bank HELOC is primarily for home equity, while Figure allows for various purposes such as home improvements and debt consolidation.
Consider your needs and preferences to determine which lender is the best fit for you:
|Citizens Bank HELOC||Figure Home Equity Line of Credit|
|APR||Starting at 5.25%||6.55% – 15.54%;|
|Loan Purpose||Equity of primary or secondary home||Home improvements, Fund a small business, Debt consolidation, Pay for college tuition;|
|Loan Amounts||$17,500 to $2 million||$15,000 to $400,000;|
|Credit Needed||Not Disclosed||640 minimum;|
|Terms||15 years||5, 10, 15, or 30 years;|
|Late Fee||Not Disclosed||Not Disclosed|
|Early Payoff Penalty||Not Disclosed||Not Disclosed|
Therefore, if you’re interested in applying for a Figure Home Equity Line of Credit, it’s important to know the application process.
So, check out our “How to Apply for a Figure Home Equity Line of Credit” article to learn more.
Figure Home Equity Line of Credit
Applying for the Figure Home Equity Line of Credit is quick and easy, and you can complete the process entirely online. Check out!
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