Citizens Bank HELOC Review: Flexible Home Equity Solutions

Citizens Bank HELOC: Fast, flexible, inclusive equity access.

Citizens Bank HELOC Review: Flexible Home Equity Solutions


  • Rapid Closing and Funding: Closing within seven days and funding within two weeks for streamlined access to your equity.
  • GoalBuilder HELOC: Tailored for borrowers earning below the median income in their area, with credit scores starting at 620.
  • Standard HELOC Requirements: A minimum credit score of 680 is required for traditional HELOC applicants.
  • No Minimum Draw Requirement: Offers the flexibility to borrow only what you need without mandatory draw amounts.
  • LTV Ratio: Up to 80% loan-to-value ratio, ensuring a significant portion of your home's equity is accessible.


  • No Closing Costs: Eliminates upfront expenses, making securing a line of credit more cost-effective.
  • Speed of Service: Fast track to cash, with the ability to open and fund lines of credit swiftly.
  • GoalBuilder for Wider Access: Makes home equity lines available to a broader demographic, including those with lower income or credit scores.
  • Annual Fee Waiver: The $50 annual fee is waived for the first year during the draw period.

Product Summary

Citizens Bank distinguishes itself with a HELOC offering that combines speed, flexibility, and inclusivity. Its signature GoalBuilder HELOC caters to those traditionally underserved by the market due to income or credit constraints, requiring only a 620 credit score. Standard HELOCs are available to those with scores of 680 or above, though the bank does not specify maximum loan amounts, ensuring a broad appeal. The absence of closing costs and a no-minimum-draw policy further enhance its attractiveness, albeit with a $50 annual fee after the first year. However, the lack of a fixed-rate option and detailed loan amount information might necessitate further inquiry by potential borrowers. Overall, Citizens Bank’s HELOC stands out for its rapid closing times, inclusive lending criteria, and unique GoalBuilder product, offering a versatile and accessible way to leverage home equity.

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