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Citibank Mortgage Review


Rating: 6.6 / 10 (Very good)
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CitiMortgage is the mortgage and home lending division of Citibank, the consumer division of financial services multinational Citigroup. It is a nationwide provider of mortgage services including Fixed Rate and Adjustable Mortgage plans. Part of its services includes home refinancing and government backed mortgage and home refinancing programs.  

Home Types

  • Single family
  • Townhouse
  • Manufactured Home
  • Multi-family Homes

 

Types of Mortgages

  • Fixed Rate Mortgages
  • Adjustable Rate Mortgage
  • FHA Mortgages
  • VA Mortgages

 

Qualifying

Prequalifying

  • Recent pay stub or W2 form
  • Current value of checking, savings, life insurance, retirement funds, stocks and bonds.

 

Credit Score

620

Down payment (ideal)

20%

Minimum employment

24 months

Standard down payment for home mortgages is 20% of purchase price. But down payment ranges between 3% and 20%. Higher down payments translates to lower mortgage payments. VA and FHA loans are available for those who don’t qualify for standard Fixed and Adjustable Mortgage loans.

 

Mortgage Rates

 

Rate

APR

30 Year Fixed

3.625%

3.951%

20 Year Fixed

3.500%

3.938%

10 Year Fixed

2.750%

3.604%

10/1 ARM

3.250%

3.510%

7/1 ARM

2.875%

3.323%

5/1 ARM

2.625%

3.262%

Rates are for a $300,000 home purchase in Seattle, WA with a 20% down payment of $60,000 and an excellent credit score.

 

Financial Rating

Moody’s

Stable

Standard and Poor’s

A-

Fitch

A

 

Mortgage Rates at CitiMortgage

CitiMortgage offers some of the most competitive mortgage rates in the market today. Its FHA and VA programs makes owning a home within the reach of those who are not able to qualify for its standard mortgage plans. Prequalifying is easy and could be done online. Nationwide branches allows you to prsonally speak with its mortgage specialists. A solid mortgage company with proven experience in providing home mortgage products.  


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Customer Comments & Reviews

Loading Reviews ...
Jing S
Williamsburg, Virginia
8/31/2017
i am a 3 years citi checkings client and was very satisfied with the banking service. I though the mortgage team will be the same but i was totally wrong. First, they have no quarantee on their words. I need to apply with my husband who is on Student visa. The officer from Citi told us no problem we can do it absolutely with the all the confidence. That's why we wanted to work with them. then we found the house, handed in the application. after 1 month waiting and just 1 week before the closing date, they told me they cannot do it. If i still want the mortgage i need apply on my own to put 50% downpayment to get the mortgage. 1 week from closing and that's what they came up with. I... Read More


S
SG
Brooklyn, New York
11/21/2016
This has been the most terrible experience. The rate is really excellent especially since we got a "special" rate because we have so much business with Citibank.... so perhaps had I know their service was so piss poor, I may have been prepared and still done our mortgage with Citibank. But nearly 90 days and I still do not have my mortgage for my townhouse cleared. There's no board, there's nothing else that has hindered this process other than the EXCRUCIATING process Citibank puts you through. Mind you, for a townhouse, we were repeatedly told by everyone that we should close within 45 days - 60 max. It's nearly DOUBLE that! We've had a working relationship with Citibank for 40... Read More



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