Yes, Citizens offers a HELOC, and the headline is hard to ignore: $0 to open. Citizens lists no application, origination or closing fees, a line from $17,500 to $2,000,000 and no minimum draw. The catch is the credit score. Citizens wants a 680 or higher.
There are two more things to read before you apply. The lowest rate has a long list of conditions, and there’s a $50 annual fee after the first year. Below is what Citizens’ HELOC page lists, the catches, and two online lenders to price at the same time.
Short version: Citizens if your score is 680 or better and you live in one of its 29 states or DC. Figure or Upstart Home Lending if your score is lower or you want a second quote.
| Citizens HELOC at a glance | What Citizens lists |
|---|---|
| Line amount | $17,500 to $2,000,000, with no minimum draw |
| Fees to open | $0. No application, origination or closing fees |
| Annual fee | None the first year, then $50 a year during the draw period. Waived with Citizens Private Client, Private Bank or Quest Checking |
| Rate | Variable, based on the Prime Rate. As low as 7.00% variable APR with the conditions below, a 2.50% minimum APR and a 21% maximum APR |
| Max loan to value | 85% |
| Minimum credit score | 680 |
| Draw period | 10 years |
| Speed | Close in as few as 7 days, and start spending in as little as 2 weeks |
| Lien position | First or second |
| Homes that qualify | Owner-occupied 1 to 4 family homes, condos and second or vacation homes. Not investment properties, co-ops or mobile and manufactured homes |
| Where | AL, AR, CT, DC, DE, FL, GA, IA, IL, IN, KY, MA, MD, ME, MI, MN, NC, NE, NH, NJ, NY, OH, OK, PA, RI, SC, SD, TN, VA and VT |
Citizens HELOC catches to know before you apply
1. Is your score 680 or higher? That’s the minimum Citizens lists. Under 680, this one is closed to you, and the online lenders below start at 600.
2. Do you qualify for the 7.00%? The rate is “as low as,” and the best rate has conditions. It’s for a new application, a line of $200,000 or more, a first lien, a loan-to-value of 80% or less, strong credit and a Citizens checking account with autopay at opening. Miss one and you’ll see a higher number.
3. Where could the rate end up? It’s variable, so it moves with Prime. Citizens’ maximum APR is 21%. Run your budget at a rate a point or two above what you’re quoted.
4. The $50 annual fee. It starts after the first year and runs during the draw period, so over a 10-year draw that’s real money. It’s waived with Citizens Private Client, Private Bank or Quest Checking.
5. Is the home eligible? Investment properties, co-ops and mobile or manufactured homes are out. So is a home that’s currently for sale, and if you listed it before, it has to be off the market at least 90 days.
6. What insurance will you need? Property insurance is required, and flood insurance may be required.
7. Is your state on the list? Citizens lends in 29 states and DC. If yours isn’t one, skip ahead to the online options.
Go through all seven before you fill out a form.
How much could you borrow with Citizens?
Citizens lists a maximum loan-to-value of 85%. That’s your mortgage plus the new line, divided by what your home is worth. Here’s what it means on an example home worth $400,000 with a $260,000 mortgage.
| Loan-to-value | Home value times the cap | Minus your mortgage | Largest line |
|---|---|---|---|
| 80% (the best-rate limit) | $320,000 | $260,000 | $60,000 |
| 85% (the maximum) | $340,000 | $260,000 | $80,000 |
Notice the problem. The best rate needs a line of $200,000 or more, and this home can’t get close to that. Most borrowers will land in the higher-rate range, so treat 7.00% as the best case, not the quote you’ll get.
Your numbers will differ, so run them in our home equity calculator before you apply.
What the first year and the next nine cost
There’s nothing to pay at opening, and the first year has no annual fee. After that it’s $50 a year. Over a 10-year draw period that adds up to about $450, unless you have Citizens Private Client, Private Bank or Quest Checking, which waive it.
That’s small. The number that matters more is your APR, because it’s variable. On a $60,000 balance, one extra point of APR is $600 a year in interest. Watch that before you worry about the $50.
Two online HELOCs to price next to Citizens
Citizens’ quote is only useful next to another one. Checking your rate with these two costs nothing, and it shows you what a 680 minimum and a $50 annual fee are worth.
| Lender | Credit line | Speed | Min. credit | Check your rate |
|---|---|---|---|---|
 Figure | $15K to $750K | As few as 5 days | 600 in most states | Fastest funding |
 Upstart Home Lending | $26,000 to $250,000 | As fast as 7 days3 | Starting at 600 | Online application |
 Citizens | $17,500 to $2,000,000 | As few as 7 days | 680 | 29 states and DC |
Figure: a 600 credit score and funding in days
Funds in as few as 5 daysFigure is the one to price first if your score is under Citizens’ 680. Its application is online and funding can happen in as few as 5 days. Lines under $400,000 skip the appraisal.
You can borrow from $15,000 to $750,000, and the full line is yours up front. In most states a 600 credit score is enough to apply.
- No appraisal under $400,000
- 600 credit in most states
- Lines up to $750,000
The catch: Figure’s origination fee can run up to 4.99%. On a $100,000 line that’s up to $4,990, where Citizens lists $0 to open. Compare the total cost, not just the APR.
Upstart Home Lending: an online HELOC for credit starting at 600
Credit scores starting at 600Upstart Home Lending HELOCs are available for credit scores starting at 600, which makes it worth a look if you’re under Citizens’ 680. The application is 100% online, with no office visits.
APRs run from 6.52% to 18.00%1, lines from $26,000 to $250,000, and terms are 10 and 15 years. You get a fixed rate2 on each draw, and you could have cash sent in as fast as 7 days3.
- Credit scores starting at 600
- 100% online application
- Fixed rate2 on each draw
The catch: the origination fee is between 0% and 4.99% of the approved credit limit1, you have to draw at least 80% of the line when you open it, and the lowest APR needs credit union membership, a 780 FICO, CLTV under 70% and DTI under 45%1.
Is $0 to open really the cheapest?
For a line you keep, it’s hard to beat. Citizens charges nothing to open, and the $50 annual fee starts in year two. Over a 10-year draw period that’s about $450 in annual fees, which is small next to a 4.99% origination fee. On a $100,000 line, 4.99% is $4,990.
But the fee comparison only matters if you qualify. With a 680 minimum and a best-rate list of conditions, many borrowers won’t see 7.00%. Get a Citizens number and an online number, then compare the APR and the fees in dollars.
Questions to ask before you say yes
A quote is just a number until you know what’s behind it. Before you accept, get these answered in writing.
What’s my actual APR, and which of the best-rate conditions did I miss? If the quote is above 7.00%, you want to know why. Sometimes the fix is a Citizens checking account with autopay, and sometimes it’s a smaller line.
Is the annual fee waived for me? It’s $50 a year after the first year unless you have one of the Citizens accounts that waive it.
What happens when the 10-year draw period ends? Ask for the repayment terms and a sample payment on your own balance, so there’s no surprise later.
How long will it really take? Citizens says as few as 7 days to close, and 2 weeks until you can start spending. Ask what could slow it down in your case.
Is the Citizens HELOC right for you?
Keep reading
Questions about the Citizens HELOC
Does Citizens offer a HELOC?
Yes. Lines run from $17,500 to $2,000,000 at a variable rate, with a 10-year draw period and no minimum draw.
What credit score do you need for a Citizens HELOC?
680. If your score is lower, Upstart Home Lending and Figure accept credit scores starting at 600 (Figure in most states).
Does Citizens charge fees on a HELOC?
Citizens lists $0 to open, with no application, origination or closing fees. There’s no annual fee the first year, then $50 a year during the draw period, which is waived with Citizens Private Client, Private Bank or Quest Checking.
How fast can you get a Citizens HELOC?
Citizens says you can close in as few as 7 days and start spending in as little as 2 weeks. Figure says funding can happen in as few as 5 days.
What is the lowest rate on a Citizens HELOC?
Citizens lists “as low as” 7.00% variable APR. The best rate needs a new application, a line of $200,000 or more, a first lien, a loan-to-value of 80% or less, strong credit and a Citizens checking account with autopay at opening. The maximum APR is 21%.
Which states can you get a Citizens HELOC in?
AL, AR, CT, DC, DE, FL, GA, IA, IL, IN, KY, MA, MD, ME, MI, MN, NC, NE, NH, NJ, NY, OH, OK, PA, RI, SC, SD, TN, VA and VT.
What homes qualify for a Citizens HELOC?
Owner-occupied 1 to 4 family homes, condos and second or vacation homes. Investment properties, co-ops and mobile or manufactured homes don’t qualify, and neither does a home that’s currently for sale.
Can you get a Citizens HELOC if you might not qualify?
Citizens also offers a GoalBuilder HELOC for people who may not qualify for the standard one. Its terms aren’t on the standard HELOC page, so check Citizens for details.
Upstart Mortgage, LLC dba Upstart Home Lending. NMLS #2443873. Equal Housing Opportunity.
1Terms shown here are subject to change without notice. APRs for initial advances range from 6.52% to 18.00% based on rates offered as of June 2026. The lowest rate is only available to consumers willing to become a member of a credit union and to those who meet a minimum FICO score of 780, CLTV under 70%, and DTI under 45%. Your actual rate will depend on many factors such as your credit history, combined loan-to-value ratio (CLTV), line amount, loan term, lien position, and property state. Origination fee to open an account is between 0% and 4.99% of the approved credit limit. The Annual Percentage Rate (“APR”) is variable and based on the Prime Rate as published in the Wall Street Journal “Money Rates” table plus or minus a margin. Your APR will never be less than 3.99% or greater than 18.00%. Property insurance is required.
2A Home Equity Line of Credit has a variable rate. The APR may change, but the APR that will apply to each draw will be fixed on the date the draw is made. Your APR will be the Prime Rate at the time of draw plus a margin fixed for the life of the HELOC.
3In Q2 2026, 15% of funded HELOCs achieved a closing timeline of 2 days or less and a funding timeline of 7 days or less. This timeline assumes consumers close with our remote online notary, provide supporting documentation promptly, and ensure the information provided is accurate and consistent with our verification process. Delays, discrepancies, and other unforeseen factors may impact the closing timeline.
