Home Equity Lines Of Credit*
Use your City National Home Equity Line for:
- Home improvement
- Debt consolidation
- Education financing
- Medical expenses
- New car financing
- Dream wedding or vacation
- 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 costs**
- 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.
Pre-Calculate Your Home Equity Line of Credit!
**Closing costs are comprised of Recording Fee, Doc Stamps, Title/Name Search, Intangible Tax, Tax Service Fee, Flood Certification Fee and Flood Certification (Life of Loan). City National Bank of Florida will take up to $975 off this total for lines of credit totaling more than $100,000.
Take control of your finances and make your money work for you
The FDIC Money Smart Program is designed to boost your financial skills. You can explore Money Smart resources, as they are available 24/7.
These tools are free of charge and available for all, so remember to share the tools with your family and friends.