Line of Credit Citibank

I want to know the rates of Home Equity Line of Credit (HELOC) of Citibank so can you tell me?

[Shaleen]

Citibank is the consumer division of financial services multinational Citigroup. Citibank was established in 1812. Its headquarter is located in New York City, United States.

Home Equity Line of Credit (HELOC)

Home equity lines are not offered for collateral properties located in Alaska.

A home equity line 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 are not available for mobile homes in any state.

Lines of credit are subject to credit approval.

All rates are current as of 12/08/2015.

Variable Annual Percentage Rate (APR) can be as low as Prime plus 0.49% (currently 3.74% variable APR and as high as Prime plus 3.74% (currently 6.99% variable APR).

To qualify for the lowest rate,

Customers must meet relationship balance requirements (as of the closing date)
Use Citibank Auto Deduct (an automated monthly debit from a Citibank deposit account) for repayment
Meet certain loan-to-value and lien-position requirements
Take an initial draw of at least $25,000 at closing
And have a line amount of at least $100,000.

Rates will vary depending on the state where the collateral property is located.

Additional rate discounts may apply.

The variable APR is indexed to the Prime Rate as published in the "Money Rates" section of The Wall Street Journal.

Maximum APR is 18%.

Annual fee: $50 (not applicable if collateral property is located in TX).

Customers who elect to pay closing costs will receive an additional 0.25% rate reduction

Closing costs can range from approximately $587 to $18,217, except in NY where they can range from approximately $642 to $24,527.