HELOCs and Home Equity Loans
Unlock your home’s potential with flexible financing solutions!
Limited-time offer: 4.90% APR* for the first 6 months!
Offer available between March 24, 2025, and May 23, 2025.
When it comes to home improvement, you have four loan options:
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Home Equity Line of Credit (HELOC)
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Home Equity Loan
At Citizens National Bank, we can help you choose which loan option meets your unique needs. Whether you’re renovating your home, consolidating debt, or using the equity in your home for other financial reasons, apply today and we can help you find the right loan for you.
Citizens National Bank offers competitive rates, local decision-making and processing in Northern Michigan, and friendly service from people you know.
Comparing options? Use this guide from the Consumer Financial Protection Bureau.
A HELOC is a revolving line of credit that allows you to borrow money against the equity in your home. Funds can be accessed as needed within a set credit limit, and you only pay interest on what you use.
A HELOC can be used for several ongoing or seasonal needs:
- Home renovation or remodeling
- Education expenses
- Major life events
- Debt consolidation
- Emergency reserve
- And more!
Here’s what you get with a CNB HELOC:
- The existing equity in your home is used as collateral backing
- As the principal is repaid, more funds become available for use whenever you need them, up to a certain limit
- Funds easily released via check
- The interest paid might be tax deductible; please consult a tax advisor for more information
- Set up automatic payments to be deducted from your account monthly
Loans subject to approval.* Member FDIC. Equal Housing Lender.
A home equity loan is a closed-end mortgage that is connected to your home. You pull equity out of your home in one lump sum to meet your current financial goals. You will pay the loan back over a fixed period with interest.
A home equity loan can be used for short-term or one-time needs:
- Home renovation or remodeling
- Education expenses
- Major life event
- Debt consolidation
Here’s what you get with a CNB home equity loan:
- The existing equity in your home is used as collateral backing
- The interest paid might be tax deductible; please consult a tax advisor for more information
- Set up automatic payments to be deducted from your account monthly
Loans subject to approval.* Member FDIC. Equal Housing Lender.
*Limited time offer. Rates, terms & conditions effective as of 3/24/2025 and will expire on 5/23/2025. Rates, terms & conditions subject to credit approval. Property insurance required. Other restrictions may apply, see bank for more details. Offer eligible for new Home Equity Lines of Credit (HELOCs) and HELOCs renewing during the promotional period. Maximum line of credit $500,000. 4.90% fixed Introductory Interest Rate (Introductory Rate) and 4.90% fixed Introductory Annual Percentage Rate in effect for the first 6 billing cycles. After the Introductory Rate ends, any outstanding balance will convert to the Variable Annual Percentage Rate (Variable APR) per the terms of the HELOC Account Agreement, which also applies to all subsequent advances. The Variable APR may be higher than the Introductory APR and is based on the prime rate published in The Wall Street Journal plus or minus a margin, but it will never be greater than 12%. $50 annual fee. Closing costs may apply if an appraisal and/or title insurance required. NOTE: Minimum monthly payments could increase after the introductory rate ends. This change could have a substantial impact on the minimum payment depending on the balance of the HELOC.
Contact Citizens National Bank at 231-627-7111 or toll-free at 888-627-7800 for more information.