Citi Mortgage Review for 2022

Citi Mortgage has a record for strong customer service, low interest rates, and a good range of loan options. Learn more here.

Lending flexibility 4.5
Customer service 4.5
Ease of application 4.0
Online experience 4.5
Minimum down payment 3%
Minimum credit score Not Listed
Loan Products Offered

Fixed-rate mortgage
Adjustable-rate mortgage
FHA mortgage
VA mortgage
Jumbo mortgage
"Home Run" mortgage

Best Features

  • Low mortgage interest rates on average
  • Offers credits to help pay closing costs
  • Existing customers can get rate and fee reductions


  • Can't apply fully online
  • No USDA loans


Citi Mortgage — the home lending branch of CitiBank — has a good reputation as a mortgage lender.

Customers give Citi's mortgage business good review scores, and there are few complaints lodged against the company.

One great perk is that some borrowers are eligible for closing cost assistance from this bank.

In addition, compared to other major lenders, Citi offers very low interest rates on average. But remember that rates vary a lot by customer. You'll need a custom quote from Citi to see what kind of deal you can get.

Citi mortgage rates

Mortgage rates from Citi tend to be below average. At least, compared to other big-name lenders and banks.

But rates and closing costs vary by person, so you’ll need to request a personalized rate to see how Citi mortgage compares for you.

Average mortgage rates at major lenders

  Citi Mortgage Rocket Mortgage Wells Fargo  Freedom Mortgage
Average 30-Year Interest Rate, 20201 3.05% 3.20% 3.62% 2.92%
Median Total Loan Costs, 2020 $4,150 $4,610 $3,370 $3,340
Median Origination Fee, 2020 $1,190 $2,950 $1,280 $0

Average rate and fee data were sourced from public rate and fee records required by the Home Mortgage Disclosure Act (HMDA).

Verify your new rate (Jan 16th, 2022)

Citi mortgage review for 2022

Citi says it’s “dedicated to making the dream of homeownership come true for a wide range of customers and partners across the country every day.”

The company’s customer satisfaction scores show that it’s achieving that goal, at least for some. It has strong customer reviews and few complaints compared to other lenders.

But as always, you should compare loan options from a few different lenders to make sure Citi mortgage rates and costs are competitive

Working with Citi home lending

Most of Citi’s website seems geared toward helping you “find a loan officer” or “request a call,” which suggests Citi puts an emphasis on person-to-person communication for setting up mortgage loans.

That said, there are also some online tools available.

While you can’t complete an application wholly online, the CitiMortgage website lets you upload documents and access your loan estimate at any time.

As for flexibility, CitiMortgage credit requirements are not especially lenient. But the bank is prepared to consider mitigating factors for credit that many other lenders ignore.

People with little credit history — who haven’t borrowed much or used credit cards in the past — might be able to rely more heavily on things like rent and utility payments to qualify for a mortgage.

The bank also states that “new and existing Citi customers may qualify for lower interest rates or discounted closing costs on a mortgage.” So current customers have a better shot at getting a great deal from Citi.

Citi mortgage customer service reviews

What sort of experience are you likely to receive as a Citi mortgage customer?

The Consumer Financial Protection Bureau (CFPB) maintains a database of complaints against all lenders. And when it comes to mortgages, Citi does pretty well compared to most.

The bank also earned a JD Power customer satisfaction score of 849 in 2020, which was just a hair below the industry average of 856.

Customer service reviews at major lenders

  CFPB Complaints, 20204  Complaints Per 100 Mortgages, 20205 JD Power Satisfaction Score, 20206
Citi Mortgage 84 0.08 849/1,000
Quicken Loans 391 0.03 883/1,000
Wells Fargo 554 0.05 840/1,000
Freedom Mortgage  288  0.04  817/1,000

Mortgage loan products at CitiMortgage

CitiMortgage has a pretty complete loan portfolio. So there’s a high chance it will offer the type of mortgage you want.

Loan options from Citi mortgage include:

  • Fixed-rate mortgages— Conventional, fixed-rate mortgages have terms of 10, 15, 20, or 30 years. Your interest rate is fixed for that whole loan term
  • Adjustable-rate mortgages — Adjustable-rate mortgages have an initial fixed-rate period of 3, 5, 7, or 10 years. After that, your rate floats with the market
  • FHA loans —Federal Housing Administration mortgages (FHA loans) have down payments as low as 3.5% and flexible credit requirements
  • VA loans — VA mortgages are backed by the United States Department of Veterans Affairs. They have zero down payment and no continuing mortgage insurance payments
  • Jumbo loans — For those requiring a bigger mortgage than the $647,200 cap on conforming loans for single-family homes in most areas

The main thing missing from Citi’s portfolio is USDA loans. Those are backed by the United States Department of Agriculture, and offer home loans for low- and moderate-income buyers in many rural and suburban areas. You’ll have to go elsewhere if you want a USDA loan.

Citi’s first-time home buyer loan program

In addition to these five options, Citi offers a proprietary mortgage product called “HomeRun.”

With the HomeRun loan, you can make a down payment of as little as 3% of the purchase price. And you won’t have to pay for private mortgage insurance (PMI).

The CitiMortgage “Home Run” loan is a little more flexible than other mortgage programs.

This might be particularly attractive to those with alternative credit histories (meaning you don’t have a long credit report or a well-built credit score).

To be clear: If you have missed or late payments on your credit report, or have maxed out your plastic recently, you’ll still struggle to get approved for a mortgage with Citi.

But if you have a low score because you haven’t borrowed much in recent years, that may be less of a barrier than with other lenders.

Providing you can show that you’ve paid your rent, child support and other regular commitments promptly, the bank may be willing to take that into account. And that’s unusual in the mortgage industry.

Verify your home buying eligibility (Jan 16th, 2022)

Where can you get a mortgage with CitiMortgage?

CitiMortgage Inc. NMLS ID: 413108

If you’re lucky enough to live near one of Citi’s branches, you can apply for your mortgage across a desk in a brick-and-mortar location.

However, those locations are mostly in the biggest urban areas. For example, Chicago, Los Angeles, and New York City are well served. But many — perhaps most — Americans live too far from a branch to make face-to-face applications practical.

Those who don’t live near a Citibank branch can start their mortgage application online. However, the process is not fully digital.

At some point, you’re inevitably going to be making and receiving calls with loan officers. However, you can upload documents securely using the Citi website, which is quicker than mail service.

Really, the choice comes down to personal preference about how you’d like to connect with your mortgage lender.

Is Citi the best mortgage lender for you?

Citi has a reputation as an affordable mortgage lender with competitive interest rates and fees.

That’s especially true for existing Citi customers. CitiBank offers mortgage rate deals and savings on closing costs for current account holders.

The most important thing is to compare rates and fees from a few different lenders. If you’re interested in working with Citi, see how it stacks up against other mortgage companies before you make a final decision.

Verify your new rate (Jan 16th, 2022)

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  1. Average mortgage rates and fees sourced from self-reported data mortgage lenders are required to file under the Home Mortgage Disclosure Act. Rates and fees shown reflect the previous year’s data and may not align with today’s mortgage rates
  2. Monthly principal and interest payments calculated using mortgage calculator. Payments shown are based on a $200,000 loan amount and assume a “very good” credit score. Property taxes and homeowners insurance are not included. Your own monthly payment will vary
  3. Number of mortgage originations for the previous year sourced from self-reported data mortgage lenders are required to file under the Home Mortgage Disclosure Act
  4. CFPB Complaints reflect the number of mortgage origination or closing-related complaints filed with the Consumer Financial Protection Bureau for the previous year
  5. Complaints per 1000 mortgages reflect the number of official complaints filed against a lender with the CFPB for the previous year, compared to the lender’s total number of mortgage originations for the previous year
  6. JD Power Rating reflects the company’s customer satisfaction score according to JD Power’s most recent Primary Mortgage Origination Satisfaction Study. Survey respondents score their lenders in four areas: application/approval process, communication, loan closing, and loan offerings