HELOC – Home Equity Line of Credit

Home Equity Line of Credit

A home equity line of credit, also known as a HELOC, is a line of credit secured by your home that provides you with a revolving line of credit. This credit may be used for large expenses or paying off higher-interest rate debt such as credit cards and other loans. HELOC’s provide increased financial flexibility for our customers by providing access to the funds they need, when they need them.

How Does A HELOC Work?

With a HELOC, you’re borrowing against the available equity that you have built up in your home which is used as collateral for the line of credit. As you repay your outstanding borrowed balance, the amount of available credit is replenished similar to a credit card. This means you can borrow or draw against your line of credit throughout your advance period up to the credit limit you establish at closing.

HELOC Details

  • 5.99% Annual Discounted Introductory Rate for the first 12 Months 1
  • 1.25% over the Prime Rate beginning the 13th Month 1
  • 15-Year Maturity Comprised of 12 years of advances and a 3-year Repayment Period
  • Maximum Loan to Value of 80%
  • No Closing Costs 2
  • No Out of Pocket Expenses 2
  • Monthly Payments Required Only When Line of Credit is Advanced 2

Applying for a HELOC is a Breeze!

Step 1 – Reach out to one of our lending professionals below and let them know you would like to learn more:

Teana Hundley

Karen DePriest

Step 2 -Our lending professionals will guide you through your options and start your application process.

Step 3 – Enjoy the benefits or our In-House HELOC management, ensuring faster processing times and highly individualized personal service.

Take the first step towards accomplishing your dreams by leveraging your homes equity with a Citizens Federal Savings Bank Home Equity Line of Credit!


  1. Limited time offer. Subject to credit approval and available on new lines of credit only. Discounted introductory adjustable rate of 5.99% Annual Percentage Rate (APR). Maximum Loan-to-Value of 80.00%. The initial rate is fixed for 12 months following account opening date. After the first 12-month introductory period, the rate will adjust monthly at 1.25% over the prevailing Prime Rate as published in the Wall Street Journal (the “Index”), currently 8.25% + 1.25% = 9.50%. The APR may change monthly but will not be lower than 5.00% nor exceed 18.oo%. HELOC Maturity date is 15 years consisting of 12 years of advancement and a 3-year repayment period. Insurance must be carried on the property securing this loan.
  2. Minimum Payment: Borrower’s Regular Payment for the first payment stream (144 Months) will be based on 1.250% of the outstanding balance, including principal and unpaid interest, or $25.00 whichever is greater and include any amount past due and all other charges. Borrower’s payments are due monthly. After completion of the first payment stream, Borrower’s Minimum Regular Payment (36 – Second payment stream) will be based on All Balances plus any past due amount and all other charges or $25.00 whichever is greater. Borrower’s payments will be due monthly. Second payment stream adds a margin to the value of the “index” then divides by 12 (monthly). To obtain the Annual Percentage Rate, lender multiplies the Periodic Rate by 12 (monthly) resulting in the Annual Percentage Rate for the Borrower’s second payment stream. Annual Percentage Rate includes only interest and no other costs. Additional fees may apply.