Are you looking for a flexible credit line to use when you need funds for home improvement projects or to keep as an emergency fund? Learn more about Home Equity Lines of Credit.

Key Features

  • Competitive Rates
  • Local Processing
  • Quick Decisions

What is A Home Equity Line of Credit?

A Home Equity Line of Credit is a flexible type of credit account. Take care of a variety of ongoing needs, including home improvements, debt consolidation, education expenses, and more!

  • Competitive rates for several ongoing or seasonal needs:
    • Education expenses
    • Major life events
    • Major home improvements
    • Debt consolidation
    • Emergency reserve
    • And much more!

How Do HELOCs Work?

You can draw funds from the credit line as needed, up to your borrowing limit. Make interest-only payments if you want to. HELOCs stay open for a certain draw period, after which any remaining balance will be converted to a term loan.

  • Funds available anytime without reapplying; apply once, then use repeatedly thereafter
  • Revolving credit – as principal is repaid, more becomes available to use
  • Funds easily available via in-person or phone transfers to a specified Citizens Savings Bank checking account
  • The interest paid might be tax deductible*
  • Payments recalculated monthly based on outstanding balance
  • Local decision-making and processing
  • Helpful, customized service throughout the entire process

HELOC vs. Home Equity Loan

Both a Home Equity Loan and HELOC are secured by the equity in your home. You can estimate your equity by subtracting your current mortgage balance from the market value of your house. The difference is that a Home Equity Loan is a term loan and a HELOC is a line of credit. A HELOC offers more flexibility to access the funds when you need to, for a variety of expenses. A Home Equity Loan is usually the best option when you have a specific project or expense in mind and know how much it will cost

Apply For a HELOC!

You can apply for a HELOC online, contact us to learn more, or visit your nearest branch location in Clarks Summit, Scranton, Taylor, Honesdale, or Mount Pocono, PA.

*Consult a tax advisor regarding the deductibility of interest. Subject to credit approval.

*APR= Annual Percentage Rate (APR). Quoted rate is accurate as of 5/4/23. Subject to credit approval. Introductory rate APR is for the first 6 months. After the first 6 months, the APR is variable based on the Wall Street Journal Prime, with a 3.75% APR floor and it will not exceed 18% APR. Available on owner occupied 1-4 family properties. Maximum loan to value ratio 80%. Rates and fees are subject to change and can be modified or discontinued at any time without notice to you. Consult your tax advisor for further information regarding the deductibility of interest and charges. **FEE WAIVER promotion on owner-occupied home equity lines of credit (HELOC) except the cost of recording the mortgage. If HELOC is paid off within 24 months of the origination date, the borrower will be responsible to reimburse Citizens Savings Bank for all third-party origination fees paid.

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