Citibank Mortgage Review 2021: Upfront fees |
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CitiMortgage review

Last updated:’s rating: 2.9 / 5.0


Discount programs and government-backed loans can reduce your down payment and interest rates.

CitiMortgage’s HomeRun mortgages and relationship pricing gives home buyers an opportunity for a lower down payment and interest rates if you don’t qualify for its government-backed loans. But beware of many poor reviews and complaints against his lender.


Loan products offeredConventional, Refinance, Jumbo, Home Equity, HELOC, FHA, VA
Minimum credit score620
State availabilityAvailable in all states

What types of loans does CitiMortgage offer?

You’ll find a fair selection of home loans with CitiMortgage, including refinancing and home equity options.

Conventional mortgages

CitiMortgage offers both fixed- and adjustable-rate options. Terms will vary based on your location and loan amount, but typically range between 10 and 30 years for fixed-rate mortgages.

Jumbo loans

If you’re looking for a mortgage that goes above the standard maximum for a single-family home, CitiMortgage offers jumbo loan. Interest rates will likely be higher than you’d get with a conventional mortgage, but the funds can be used for primary or secondary homes.

FHA loans

One of its two government-backed loan options, FHA loans are typically good for first-time homebuyers and those without a perfect credit score. The government guarantee means credit standards are more flexible than those of conventional mortgages.

VA loans

Retired and current military service members and their spouses can benefit from low interest rates and down payments and avoid paying private mortgage insurance. VA loans also offer lower closing costs to those that qualify.

Other loans offered by CitiMortgage

  • Home equity loan
  • Home equity line of credit (HELOC)
  • Refinancing

CitiMortgage fees

A number of fees may apply to your home loan, both from CitiMortgage and third parties.

  • Points. Mortgage points lower your interest rate between 0.25% and 0.375% and each costs 1% of the loan amount.
  • Origination and underwriting. During closing you’ll pay these fees, which include the cost of originating your loan, processing your application and approving it. CitiMortgage also charges an upfront application fee.
  • Third party. Your home will be appraised and inspected by third-party providers which is paid separately from CitiMortgage. Title service fees are also third party.
  • Ongoing. Costs that you’ll continue seeing after the closing process include property taxes and insurance.

HomeRun mortgage

CitiMortgage HomeRun Mortgage program offers a low 3% down payment option without paying private mortgage insurance (PMI). Loans are available for single-family homes, condos or two-unit homes and include jumbo loan options.

CitiMortgage Relationship Pricing

This program gets you a discount on your closing costs or a break on interest rates if you hold a deposit account and use it to pay your monthly mortgage payment with autopay.


To qualify for a loan with Citi, a debt-to-income ratio (DTI) of around 36% and credit scores above 620 are preferred. While you could potentially qualify with lower credit, you’ll have a better chance of approval than you would otherwise if you meet both guidelines.

When you apply for preapproval with CitiMortgage, it sends you a letter showing a commitment to lend and guaranteeing the rates and terms you qualify for.


Before you apply for a home loan with CitiMortgage, have the following on hand:

  • Pay stubs or proof of direct deposit
  • Bank and asset statements for the past two months
  • W-2 forms for the past two years
  • Tax returns for the past two years
  • Employment history for the past two years
  • Divorce decree or separation agreement
  • Verification of rent or mortgage payments
  • A letter explaining any recent credit inquiries or late payments
  • Any addresses of additional real estate you own
  • Alimony, child support or separate maintenance verification

How to get a home loan with CitiMortgage

You can start the application process in person, over the phone or online.

  1. Go to the CitiMortgage website and select Learn about preapproval.
  2. Fill out your name, phone number and email and select Submit.
  3. A mortgage specialist will contact you and guide you through the preapproval process, which includes submitting your documentation.
  4. Once you have a property picked out, you can fill out a full application online by going to the site and selecting Start mortgage application.
  5. Fill out the property information along with your personal and financial information, CitiMortgage gives an estimate of 30 minutes to complete the form.
  6. A loan officer will contact you within three days to provide you with a loan estimate.
  7. Once CitiMortgage receives the home appraisal, the amount and terms are set and you’ll receive a final decision.
  8. Upon approval, a closing date and location is scheduled.

CitiMortgage pre approval

CitiMortgage reviews and complaints

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 4,865 complaints and over 241 customer reviews as of November 2020, with an average customer rating of just over 1.05 out of 5 stars.

On top of its negative reviews and complaints, Citibank was subject to a $100 million settlement in 2018 over manipulating benchmark interest rates. It’s not all bad reviews for Citibank, though — its average score from the over 2,790 customer ratings on Zillow as of November 2020 is 4.84 out of 5 stars.

Pros and cons of CitiMortgage


  • Specialty program. Its HomeRun program could cut you a break on your down payment PMI, even with weak credit.
  • Nationwide availability. You can apply for a mortgage in any of the 50 states.
  • Closing cost and rate discounts. Citibank customers using an existing deposit account to make automatic monthly mortgage payments can receive a discount on closing costs or interest rates.


  • Full loan details unavailable online. You can’t find the whole of CitiMortgage’s loan terms on its website, and calling in may result in more sales pressure than you’re looking for.
  • Application fee. Many lenders don’t require an upfront fee to apply, but CitiMortgage does. This fee may also cover the cost of your appraisal, but it’s not guaranteed.

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
(NMLS #1121636)
Conventional, Home equity, Refinance
Not available in: AK, HI, MO, NH, NM, NY, SD, WV
No hidden fees, multiple loan terms, and member discounts available.
(NMLS #330511)
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
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
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Streamline your mortgage from quote to final payment — all from your computer or phone.
(NMLS #1136)
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
Connect with vetted home loan lenders quickly through this online marketplace.

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View mortgage, refinance and home equity rates from multiple lenders and apply online.

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What is CitiMortgage?

CitiMortgage is a subsidiary of Citibank, which is an international financial institution with business in 19 countries. Citi has been moving away from mortgage servicing since 2017, transferring the servicing rights for many of its mortgages to other financial institutions. But it has increased originations — meaning you can still apply for home loans with CitiMortgage, but another company may be taking care of collecting payments and sending them to Citi.

Frequently asked questions

Home loans ratings

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Expert review


Review by

Rhys Subitch is a writer and editor at Finder who tackles topics across the site. With half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info on all things finance.

Expert review

You could find a home loan option with CitiMortgage, even if your credit isn’t perfect or traditionally verifiable. Its suite of products is well rounded and has several options for those looking to buy or refinance.

To get a look at even more providers, check out our mortgage guide and compare your options.

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