Citi Mortgage is the mortgage lending arm of Citi. It offers a variety of mortgage p💟roducts to purchase or refinance your home, including conventional, jumbo, FHA, and VA loans.

Pros Explained

• Relationship pricing for Citi customers: New and existing Citi customers can qualify for lower interest rates or a closing cost credit when they meet balance requirements.
• Reduced closing costs with Lender Paid Assistance: Citi Mortgage offers closing cost assistance of up to $7,500 toward a home loan for qualified applicants.
• Full-service banking: You can keep all your banking and lending under one umbrella with a Citi mortgage. Citi offers a full array of banking, lending, investment, and other financial services.

Cons Explained

• Not all product rates listed online: It’s hard to compare Citi Mortgage rates and terms against other lenders because not all rates are available online. The Citi Mortgage website only lists 15- and 30-year mortgage rates for purchase and refinance loans.
• Contact info required to get additional rate information: To fully compare your mortgage options, you must submit your contact information and speak with a loan officer.
• Loan officer required to complete application: While you can start the application process online, you must work with a loan officer to complete the process. By comparison, some lenders let you wrap up the process entirely online.

Types of Mor♈tgage Loans Offered by Citi Mortgage

• Conventional loans: Borrowers can qualify for conventional loans with a credit score of 620. Citi usually requires a down payment of at least 20%, but you may be able to make a 5% down payment if you purchase private mortgage insurance (PMI).
• FHA loans: First-time homebuyers, borrowers with down payments as low as 3.5%, and people with low credit scores may find FHA loans are a good fit.
• Jumbo loans: Jumbo loans are for buyers who need to finance a home that costs more than the current loan limits for conventional loans. Citi may require a 澳洲幸运5开奖号码历史查询:higher credit score and larger cash reserves for a jumbo loan application.
• VA loans: VA loans are for active-duty military, veterans, and their families. These mortgages usually require no down payment and have a minimum credit score of 620.

Citi Mortgage Features and Benefits

• Discounts on rates and fees for Citi customers: Save up to five-eighths of 1% on the interest rate or receive a credit on closing costs, depending on your existing Citi account balances.
• HomeRun Mortgage: The HomeRun program requires a down payment as low as 3% and no mortgage insurance.
• Save money on closing costs: Look for promotions, like a $500 credit toward closing costs, when you apply for a Citi mortgage.

How to Apply for a Citi Mortgage Loan

1. Contact Citi Mortgage. To start your application, submit your information online, visit a branch, or call 800-248-4638.
2. Complete your application. Speak with a Citi Mortgage loan officer to provide your personal information, property details, and mortgage needs.
3. Authorize a hard credit pull. Citi Mortgage will pull your credit scores to determine which loan programs you qualify for based on your credit, personal information, and loan details.
4. Submit the required documents. Citi needs documentation to support your loan application, including signed disclosures, bank statements, pay stubs, tax returns, and proof of down payment.
5. Get a loan estimate. Your Citi Mortgage loan officer provides a loan estimate that gives you an idea of the fees and closing costs you’ll pay.
6. Consent to proceed. If you approve the loan details, provide the loan officer with your consent to proceed with the loan application.
7. Have the home appraised. An appraisal provides an independent valuation of your home based on its features and recent home sales in the local area.
8. Receive the final decision. Once Citi finishes underwriting your loan request, it will make the final decision to fund your loan.
9. Close your mortgage. You'll sign the closing documents, provide the down payment, and pay closing costs so the bank can provide the money to buy your home or pay off your existing mortgage.

Customer Service

Citi Mortgage custome🍸rs can reach customer service over the phone, in a branch, at Citi.com, or through the Citi Mobile app ( and ).

Telephone support is available at 800-248-4🐎638 from 8 a.m. to 10 p.m. Eastern Time, Monday through Friday, and from 9 a.m. to 7 p.m. ET on Saturdays.

You can also check your mortgage application status by logg꧃ing into your online Citi account.

Customer Satisfaction

Citi enjoys exceptional scores and reviews on Zillow. It has over 3,900 reviews with an average score of 4.84 out of 5 stars. Customer reviews express appreciation for Citi Mortgage loan officers, mentioning how professional and responsive they are to borrowers’ needs. Recent reviewers said th🔯eir interest rates were as expected or lower than expected.

In the J.D. Power 2023 U.S. Mortgage Origination Satisfaction Study, Citi’s mortgage business gained an above-average score of 756 out of 1,000 points. That resulted in a third-place ranking for Citi Mortgage.

Account Management

Citi mortgages are serviced by Cenlar. Once your loan has been funded, you can access your mortgage account, payment hi♈story, and more through .

Borrowers who have other Citi bank accounts can manage😼 their mortgage through Citi.com or Citi’s mobile app.

If you want to speak to customer service, call Cenlar at 855-839-6253. Customer service hours are from 8:⛦30 a.m. to 8 p.m. ET Monday through Friday and 9 a.m. to 5 p.m. ET on Saturdays.

Alternatives

Before applying for a mortgage, take the time to compare the best mortgage lenders to find the most favorable rates and terms. Not all loan types are available at every lender. And some lenders specialize in certain types of loans, makin👍g the loan process much smoother.

When comparing mortgage optioꦗns, pay attention to these factors:

• APR: The annual percentage rate (APR) incorporates the fees you pay and is the best rate for comparing lenders.
• Closing costs and fees: Determine what fees each lender charges to 澳洲幸运5开奖号码历史查询:close your loan. You can negotiate some costs, like origination fees, and seek your own vendors for others, like title insurance.
• Rate lock: The 澳洲幸运5开奖号码历史查询:rate lock details how much time the lender has to close your loan before the interest rate expires.

The Bottom Line

Citi Mortgage offers excellent customer service and a variety of mortgage options. Although Citi enables customers to view all of their banking and lending accounts online or through its mobile app, you can’t complete your mortgage application online. Instead, you must speak with a loan officer to complete your application and get detailed rate and cost information for Citi's loan products.

This process could be a turnoff for customers who prefer to shop rates and terms before speaking with someone. However, most lenders require borrowers to work with a loan officer at some point. So, based on the positive feedback that appears online, it may be worthwhile to speak with a Citi Mortgage loa🥂n officer.

Frequently Asked Questions (FAQs)

Are Citibank and Citi Mortgage the S♑ame Company?

Citi Mortgage, based in O’Fallon, Missouri, is a subsidiary of Citibank. Citi Mortgage offers conventional loans, jumbo loans, and other mortg꧂ages.

What Is the Citi HomeRun Program?

Citi’s HomeRun Mortgage program offers low down payments, affordable monthly payments, and flexible credit guid⛦elines. The program can be used for home purchases or mortgage refinancing.

Is Citi Mortgage Good?

Whether Citi Mortgage is good depends on your point of view. Citi Mortgage earned a mediocre rating in I🎃nvestopedia’s survey of mortgage customers. But it earned third in the J.D. Power 2023 U.S. Mortgage Origination Satisfaction Study.

How We Review Mortgage Lenders

In March 2024, we conducted a consumer survey of 500 current or prospective homebuyers and mortgage borrowers. We asked them 41 questions about their home-buying and mortgage-shopping experience and learned what features and services were most important to them. Our research team analyzed the results𒆙, and this information fueled our list of 38 mortgage lenders and 55 criteria for our rubric.

We then collected over 2,000 data points, surveying mortgage lenders and collecting data via websites, media contacts, and customer service between May 31 and June 28, 2024. To develop our list of the best mortgage lenders, we weighted 36 of the 55 individual criteria, giving higher weight to those criteria that meanꦗ the most to borrowers. The score for each company’s overall star rating is a weighted average of those criteria in the following categories:

• Customer Experience: 48%
• Operational Features: 16% 
• Reputation: 14%
• Loan Types: 11%
• Loan Costs and Requirements: 11%

Read more about our process in our full 澳洲幸运5开奖号码历史查询:mortgage lender methodology.