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CitiMortgage vs. CIT Bank mortgages

Compare CitiMortgage and CIT Bank to see which mortgage lender is better for you.

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Fact checked

How do CitiMortgage and CIT Bank compare?

CitiMortgage logo
CIT Bank 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 if you want to make interest-only payments
  • Choose another lender if you want a fully online application
  • A good option for borrowers who expect a significant income raise in the near future

Loans offered

  • Purchase
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA
  • Purchase
  • 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
  • Interest-only loans
  • Online accounts
  • High loan limit

Cons

  • Full loan details unavailable online
  • Application fee
  • Two-step application
  • Limited options
  • Hidden fees

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.
Online reviews detail quality interactions with CIT Bank representatives, suggesting the bank is easy to work with through responsive, efficient customer service. However, some CIT Bank customers complain of fluctuating interest rates and don’t like the design or functionality of CIT Bank’s online banking platform. CIT Bank is not accredited with the Better Business Bureau, which gives it a B- rating as of August 2019. Trustpilot gives the company a 9.2/10 rating, with just under 200 reviews.

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