First Citizens Loan Rates: Compare & Save Today!

Wondering how First Citizens loan rates stack up against other lenders? You're not alone. Understanding loan rates is crucial when comparing financial institutions and choosing the right one for your needs. Let's delve into First Citizens Bank's loan rates, breaking down their offerings, and helping you make an informed decision.

First Citizens Bank, established in 1897, has a strong presence in the Southeastern United States, providing a range of loan products, including mortgages, home equity loans, personal loans, and auto loans. But how competitive are their interest rates?

Mortgage Loans

First Citizens offers several mortgage options, including conventional, FHA, VA, and USDA loans. Their mortgage rates are competitive, often aligning with or slightly below national averages.

Here's a quick snapshot of their current mortgage rates (updated regularly on their website):

30-Year Fixed-Rate Mortgage

First Citizens' 30-year fixed-rate mortgage offers security with a stable monthly payment throughout the loan term. Their rates for this loan type often range between 3.5% to 4.5%, depending on your credit score and the loan amount.

For instance, a borrower with an excellent credit score (760+) might secure a 3.5% interest rate, while someone with a good credit score (670-719) might receive a rate of around 4.375%.

15-Year Fixed-Rate Mortgage

A 15-year fixed-rate mortgage from First Citizens offers a higher monthly payment but potentially saves you thousands in interest over the life of the loan. Their rates for this loan type typically range from 3% to 3.75%.

Again, using the above credit score examples, a borrower with an excellent credit score might secure a 3% interest rate, while someone with a good credit score might receive around 3.5%.

Home Equity Loans & Lines of Credit

First Citizens also offers home equity loans and lines of credit, allowing you to tap into your home's equity for various purposes, such as home improvement, debt consolidation, or education expenses.

The bank offers competitive home equity rates, which are typically prime-based. At the time of writing, First Citizens' home equity rates start as low as the prime rate (currently 3.25%) with an APR ranging up to prime + 4.49%.

Home Equity Loan

A fixed-rate home equity loan from First Citizens provides a lump sum of money with a fixed interest rate and monthly payment. Rates and terms vary based on the loan amount and your credit profile.

For example, a borrower with excellent credit might secure a 5.5% to 6% interest rate on a $50,000 home equity loan, with a 10- to 15-year repayment term.

Home Equity Line of Credit

A home equity line of credit (HELOC) from First Citizens offers a revolving credit line with variable interest rates. Draw funds as needed and only pay interest on the amount you borrow.

Current HELOC rates start as low as the prime rate, with an APR ranging up to prime + 6.49%. For instance, a borrower with excellent credit might secure a 4% to 4.5% interest rate.

Personal Loans & Auto Loans

First Citizens also offers unsecured personal loans and auto loans with competitive interest rates.

Personal Loans

First Citizens' personal loans provide funds for various purposes, such as debt consolidation, medical expenses, or unexpected costs. Their personal loan rates range from 5.79% to 16.99%, depending on your credit score and loan amount.

For example, a borrower with excellent credit might secure a 5.79% interest rate on a $10,000 personal loan, while a borrower with a good credit score might receive around 7.99%.

Auto Loans

First Citizens' auto loans offer competitive rates for both new and used vehicle purchases. Their auto loan rates range from 3.49% to 15.49%, depending on your credit score and the vehicle's age and mileage.

A borrower with excellent credit might secure a 3.49% interest rate on a new vehicle loan, while someone with a good credit score might receive around 4.99% for a used vehicle loan.

When comparing First Citizens loan rates with other lenders, consider factors such as loan terms, closing costs, and your unique financial situation. Carefully weigh your options and choose the best loan tailored to your needs. Ready to apply? Visit First Citizens Bank's website or contact a local branch to explore your loan options today.