Home Equity Line of Credit1
Put the equity in your house to good use with a home equity line of credit from City National Bank Of Florida. You decide when and why to access your funds, giving you the freedom to pay only on what you use. You can use your home equity line to make home improvements, pay for education expenses and much more. The choice is yours.
Use your City National Home Equity Line for:
- Home improvement
- Debt consolidation
- Education financing
- Medical expenses
- New car financing
- Dream wedding or vacation
Key Features:
- Lower interest rate than many other types of credit
- Access to funds now or in the future
- Access to funds as you pay down the line of credit without needing to re-apply
- Interest only payment option
- Make additional payments to pay down your balance without penalty
- Access to available funds for 10 years
- Enjoy a .25% discount on your rate with an automatic payment from your City National Bank of Florida checking account
- No closing costs for lines up to $100,000 and for lines over that amount City National Bank will pay the first $975 towards closing costs2
- Available for first mortgage up to $5 million and second mortgage up to $1.5 million
Home Equity Disclosure:
Applicable for credit lines starting from $10,000. Maximum credit line for condominiums is 75% loan-to-value (LTV) and 80% LTV for single family residences. The Annual Percentage rate (APR) is indexed to the Prime Rate. Prime rate is based on Wall Street Journal prime as published in the Wall Street Journal. APR 4.00%-18.00% (APR depends on creditworthiness). The interest rate is variable and subject to change, but will not exceed 18% APR at any time. Property and/or flood hazard insurance may be required. Interest is tax deductible in most cases, but please consult your tax advisor.
Learn more about City National Bank Of Florida Residential Mortgages.
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