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Consider the reasons to use your home equity

Whether you're looking to make home improvements, cover a large expense or consolidate higher-interest-rate debt, a Home Equity Line of Credit (HELOC) or Fixed Rate Home Equity Loan can provide you with the funds you need. There are no application fees or closing costs, and you may even be eligible for certain tax benefits (consult your tax advisor). Since your home is used as collateral, home equity lines and loans often carry a lower interest rate than unsecured debt like credit cards or personal loans.

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Important disclosures

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

Home equity lines and loans are not offered for collateral properties located in Alaska. A home equity line or loan is available only for 1-2 family residential properties, including co-ops in New York, Illinois, District of Columbia,

New Jersey and Maryland. Home equity lines are also available for 3-4 family homes that are primary residences (excluding Texas). Home equity lines and loans are not available for mobile homes in any state. Certain limitations apply. Lines of credit and loans are subject to credit approval. Rates are subject to change without notice. All rates are current as of 08/31/2015.

For Fixed Rate Home Equity Loans: Your Annual Percentage Rate (APR) may be as low as 5.99% APR (as low as 6.24% for NY properties) or as high as 7.74% APR (as high as 7.99% for NY properties). To qualify for the lowest rate, customers must meet loan amount and term requirements, use Citibank Auto Deduct (an automated monthly debit from a Citibank deposit account) for repayment and have excellent credit history. If you borrow $50,000 for 30 years at 7.24% APR, assuming no down payment, you will make 360 payments of approximately $340.75. An Early Closure Release Fee (prepayment penalty) may be charged to recover all costs incurred for originating your loan if you close your account within 36 months (not applicable if the collateral property is located in TX). Property insurance and the fee to release an existing mortgage may be required.

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