CitiMortgage vs Bank of America mortgages | finder.com

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CitiMortgage vs. Bank of America mortgages

Both lenders are available nationwide, but is one better for your next home loan?

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Fact checked

How do CitiMortgage and Bank of America compare?

CitiMortgage logo
Bank of America logo
  • Choose this lender for discount programs if you don’t qualify for government-backed loans
  • Watch out for the upfront application fee
  • A good option if you are a current Citibank customer
  • Choose this lender for low interest rates
  • Watch out for bad customer reviews
  • A good option for borrowers without much credit history

Loans offered

  • Conventional
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA
  • Conventional
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA

Minimum credit score

Conventional: 620

Conventional: 620

States available

Available in all states

Available in all states

Pros

  • Specialty program available
  • Nationwide availability
  • Closing cost and rate discounts available
  • Accessibility
  • Low interest rates
  • Alternative credit data
  • Discounts for existing clients

Cons

  • Full loan details unavailable online
  • Application fee
  • High volume of consumer complaints
  • Limited coverage in the Midwest
  • History of irresponsible mortgage lending
  • Less personalized approach

Customer reviews

Citibank, the parent company of CitiMortgage, isn't accredited with the Better Business Bureau (BBB) and receives an F rating from the site. Its BBB profile has almost 4,000 complaints and over 150 customer reviews as of September 2019, with an average customer rating of just over 1 out of 5 stars. On top of its negative reviews and complaints, in 2018 Citibank was subject to a $100 million settlement over manipulating benchmark interest rates. It's not all bad reviews for Citibank, though — its average score from the over 2,300 customer ratings on Zillow as of September 2019 is 4.85 out of 5 stars.
Bank of America has been accredited with the Better Business Bureau (BBB) since 1949, boasting an A+ rating for its operations after closing almost 5,500 customer complaints over the last three years. However, it falls short in the customer service department, earning slightly over a one-star rating from 405 customer reviews. It’s a similar story on Trustpilot, where the bank has a 1.4 rating based on 438 reviews as of December 2020. While customers praised the savvy online experience and diversity of mortgage products, many were frustrated with the service they received. It’s worth noting that these consumer reviews are for Bank of America as a whole — and not for its mortgages specifically.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
Better.com
(NMLS #330511)
Better.com
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
Axos Bank
(NMLS #524995)
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
620
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: AK, HI, MO, NH, NM, NY, SD, WV
620
No hidden fees, multiple loan terms, and member discounts available.
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
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