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Home Equity

Home Equity Lines Of Credit*

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 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.

Know more about the City National Bank Of Florida Residential Mortgages***.

Pre-Calculate Your Home Equity Line of Credit! 

Use our Home Equity Line of Credit Calculator to determine the home equity line of credit amount you may qualify to receive. The line of credit is based on a percentage of the value of your home. The more your home is worth, the larger the line of credit. Of course, the final line of credit you receive will take into account any outstanding mortgages you may have. This includes first mortgages, second mortgages and any other debt you have secured with your home.

*Loan products are subject to credit approval and program requirements. Terms and conditions apply. This is not a commitment to lend. Loan programs, terms, rates, and conditions are subject to change without notice.
**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.

Please note: City National Bank of Florida does not offer tax, legal or accounting advice