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Home Equity Line of Credit: As of 10/31/2014, our best rates are as follows:

  • OH: Prime minus 0.50% (2.75% APR) for line amounts of $200,000 to $399,999 and
    Prime minus 0.25% (3.00% APR) for line amounts of $100,000 to $199,999.
  • MI: Prime minus 0.13% (3.12% APR) for line amounts of $200,000 to $399,999 and
    Prime minus 0.01% (3.24% APR) for line amounts of $100,000 to $199,999.

Obtaining the best rate featured above requires the following criteria to be met:

  • A new home equity line of credit application for the amount listed above.
  • Line must be in first lien position in MI.
  • Line may be in first or second lien position in OH.
  • An initial draw of at least $25,000 at closing.
  • Having or opening a Circle Gold Checking® account with an automatic deduction of your home equity line of credit monthly payment.
  • A loan-to-value (LTV) of 70% or less.

Variable APR based on The Wall Street Journal “Prime Rate” (“Prime”) published on the last business day of the month (3.25% APR as of 10/31/2014). Maximum APR 21%, (18% in NJ and PA). Minimum APR 2.50%.

1- to 4-family owner-occupied properties, condominiums, and 2nd / vacation home owner-occupied properties. Property cannot be an investment property, co-op, mobile home or manufactured housing (mobile homes - including those on own land, on permanent foundation, and including single and double wide). Rate and terms may change at any time before or after account opening and vary by property type, loan amount, credit history, lien position, and loan-to-value (LTV) ratio, debt-to-income (DTI) ratio, FICO score and draw amount at closing. Not available for homes currently for sale. Homes previously listed for sale must be off the market for at least ninety days prior to application. Property insurance required. Flood insurance may be required. Trust review fees ranging from $85 to $350 apply for properties held in trust. No annual fee first year, then $50 per year. Pre-payment penalty of $350 if closed within first 36 months. No pre-payment penalty in NJ and PA. Offer not available on CAPPED RATE HOME EQUITY LINE OF CREDIT®. Rates subject to change, and minimum line amounts apply. See a banker or call a Home Loan Advisor for more details. Draw not required. Interest-only minimum payments required during the 10-year draw period. Principal and interest payments required during the repayment period after the draw period ends. Home equity lines of credit are available in first, second or third lien positions. Third liens are only available if the bank is in second lien position. All accounts are subject to individual approval. Consult your tax advisor regarding deductibility of interest.

Capped Rate Home Equity Line of Credit: APR will be capped for the 7-year draw period. Rates subject to change, and minimum line and draw amounts apply. See a banker or call a Home Loan Advisor for more details. Circle Gold Checking account required. Interest- only payment is available only during the first 7 years.

Home Equity Loan: All Annual Percentage Rates (APRs) assume payment by auto-deduction from Circle Gold Checking account. Rate and terms may change at any time. Offer subject to change without notice. Not available for homes currently for sale. Homes previously listed for sale must be off the market for at least ninety days prior to application. Property cannot be an investment property, co-op, mobile home or manufactured housing (mobile homes - including those on own land, on permanent foundation, and including single and double wide). Property insurance required. Flood insurance may be required. All accounts and services subject to individual approval. Consult your tax advisor regarding deductibility of interest.

First Lien Position: The following rates are our best rates for a 10-year term. As of 10/31/2014, 3.88% APR is available for qualifying properties in MI and OH with a loan-to-value (LTV) of 80% or less for loans of $50,000 or more with auto-deduction from Circle Gold Checking and a 10-year term. An equity loan of $50,000 with a 10-year term at 3.88% APR results in 120 monthly payments of $503.38. Single family residence, condo, 2- to 4-unit multi-family homes, and primary/secondary vacation homes held in first lien position only. First lien position home equity loans are only available to customers who do not have an existing mortgage or equity loan on the property or are planning to pay off an existing mortgage or equity loan with this new loan. First lien position home equity loans are only available for a 10-year term.
Second Lien Position: The following rates are our best rates for a 10-year term. Other rates and terms available. As of 10/31/2014, 4.49% APR is available for qualifying properties in OH and 4.74% APR is available for qualifying properties in MI, with a loan-to-value (LTV) of 70% or less for loans of $75,000 to $399,999, with auto-deduction from Circle Gold Checking and a 10-year term. An equity loan of $75,000 with a 10-year term at 4.74% APR results in 120 monthly payments of $785.99. Your actual APR may be higher based on a review of your credit application. 1 to 4-family owner-occupied properties only. Rate and terms may change at any time and vary by property type, loan amount, credit history, lien position, loan-to-value (LTV) ratio, debt-to-income (DTI) ratio and FICO score. Second lien position home equity loans are currently only available to customers who have an outstanding loan (first lien position) on their property and do not intend to pay it off with this new loan. We do offer home equity loans in third lien position. Third liens are only available if the bank is in second lien position.


Choose Your Payment Home Equity Loan: Payment chosen must amortize over maximum 20 year term. The following rates are our best rates for a 10-year term. As of 10/31/2014, 4.49% APR is available for qualifying properties in OH and 4.74% APR is available for qualifying properties in MI, with a loan-to-value (LTV) of 70% or less for loans of $75,000 to $399,999, with auto-deduction from Circle Gold Checking. An equity loan of $75,000 with a 10-year term at 4.74% APR results in 120 monthly payments of $785.99. Your actual APR may be higher based on a review of your credit application. Other rates and terms available. Current rates and terms apply. Rate and terms may change at any time and vary by property type, loan amount, credit history, lien position, loan-to-value (LTV) ratio, debt-to-income (DTI) ratio and FICO score. Offer subject to change without notice. 1 to 4-family owner-occupied properties only. Property cannot be an investment property, co-op, mobile home or manufactured housing (mobile homes - including those on own land, on permanent foundation, and including single and double wide). Not available for homes currently for sale. Homes previously listed for sale must be off the market for at least ninety days prior to application. Property insurance required. Flood insurance may be required. All accounts are subject to individual approval. Consult your tax advisor regarding deductibility of interest.

Mortgages:

Circle Gold Mortgage Advantage: Circle Gold Checking® with automatic payment deduction required to receive 1/8% off your mortgage rate. One offer per property. Not applicable to Bond and CRA programs. Other exclusions and restrictions may apply. All accounts are subject to individual approval.

On-time Purchase Closing Guarantee: We’ll close your purchase loan when you need to – in at least 30 calendar days after loan application or we’ll give you a $500 check*

*Terms and Conditions:
Apply and qualify for a first lien mortgage loan from RBS Citizens, N.A. Completed application must be submitted on or after May 1, 2014. Offer not valid for refinance loans, condos requiring a full project review, co-ops, construction-to-permanent loans, second homes or investment properties, short sales or foreclosures, properties held in trusts, home equity loans or lines of credit, Housing Finance Bonds, grants and/or down payment assistance programs, or loans that require subordination of a second lien. Not available in the following New York counties - Suffolk, Nassau, New York, Queens, Richmond, Bronx, Kings, Westchester. 1/8% Circle Gold Mortgage Advantage® interest rate discount is available with the On-time Purchase Closing Guarantee. All other promotions and discount offers are excluded from this offer.

The $500 will be paid via check within 30 calendar days after loan closing and may be taxable income. Applicants should consult a tax advisor. RBS Citizens, N.A. may issue an IRS form 1099-MISC.

The closing offer is available if the applicant:

  • Provides RBS Citizens, N.A. with a copy of the original, fully-executed purchase and sales agreement that shows evidence of a contract at time of application.
  • Submits an application with a minimum of 30 days to the purchase contract closing date.
  • Provides all required documentation (checklist, commitment letter and items as required by the additional needs letter) and any applicable upfront fees within required time frames.
  • Completes all requirements and conditions of loan underwriting approval at least five (5) business days prior to the contract closing date.

The $500 is unavailable if:

  • The applicant changes the loan product(s) and/or terms from those which were originally applied for, thereby causing a re-disclosure to meet regulatory requirements.
  • The applicant’s portfolio loan requires an exception to standard underwriting guidelines.
  • Applicable law imposes a mandatory waiting period prior to closing and that waiting period prohibits RBS Citizens, N.A. from closing by the contract closing date.
  • The closing does not occur on the contract closing date due to delays attributable to third parties such as a lack of certificate of occupancy, unresolved title issues, etc., or if the seller or purchaser extend the closing date.
  • The closing does not occur on the contract closing date due to events outside the control of RBS Citizens, N.A., including inclement weather, natural disaster, catastrophic event, acts of terrorism or other public emergency beyond the control of RBS Citizens, N.A.
  • RBS Citizens, N.A. reserves the right to terminate the program.

Rates are subject to change. Rates apply to new accounts and may not be applied to existing accounts.

All accounts, loans, and services are subject to individual approval. Offers may be withdrawn without notice.

 

Mortgages are offered and originated by RBS Citizens, N.A. (NMLS ID# 433960).