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Citibank Mortgage Review 2023

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At a glance


NMLS: 412915


Rating: 4.9 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing


Nationwide Availability

Available in all U.S. states and Puerto Rico

Credit Good

Min. credit score required

620 for conventional loans; 680 for jumbo loans; 620 for FHA loans; 620 for VA loans

Pros and cons

Checkmark Pros

  • Variety of loans available in all states
  • Low-down payment loan options with no mortgage insurance required
  • New and existing Citibank account holders eligible for a discount on interest rate or closing costs
  • Offers promotions for $500 off closing costs

Close X Cons

  • Doesn’t offer USDA loans
  • Brick-and-mortar locations limited

Citibank overview

Citibank (Citi Mortgage) is an online and brick-and-mortar lender established in 1979 and part of banking giant Citigroup, Inc. The bank provides a variety of mortgage options, including the standard suite of conventional, jumbo and government-insured loans (with the exception of USDA loans) and the HomeRun Mortgage, which can help you finance a single-family home or condo with only 3 percent down (or a duplex with 5 percent down) and no requirement to pay for private mortgage insurance (PMI). Banking customers could receive closing cost or interest rate discounts depending on balance.

Citibank is good for

Borrowers looking for a fast preapproval and responsive customer service, or banking customers looking for relationship pricing

Breakdown of Citibank overall score

  • Affordability: Citibank’s mortgage rates are competitive, but be prepared to pay points at closing to get the lowest advertised rate. One point costs 1 percent of the amount you’re borrowing.

  • Availability: Citibank offers conventional and some government-insured mortgages to borrowers nationwide.

  • Borrower experience: While Citi boasts many online conveniences, many customers on third-party sites express having a hard time getting a response from the bank when there are issues.


To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.

Affordability: 5/5

Citibank displays the latest mortgage rates on its website. The bank’s lender fees vary by loan type, and closing costs in total generally range from 1 percent to 4 percent of the home’s value, according to its website. Account holders who set up auto-payments can qualify for an interest rate discount or closing cost credit based on balance level. Borrowers with up to $49,999 with the bank, for example, can save $500 on closing costs.

Availability: 5/5

Citibank operates across the U.S., but only maintains branches in a handful of states. Its mortgage products include conventional, FHA and VA loans, along with options to refinance your existing loan.

Borrower experience: 4.1/5

Citibank is one of the major banking institutions and ranked third for customer satisfaction in J.D. Power’s 2022 mortgage origination report. It isn’t accredited by the Better Business Bureau, however, and currently has an F rating from the organization for failure to respond to or resolve complaints, among other factors. At the time of this review, the bank had a 1.6 out of five stars rating from Trustpilot based on more than 60 reviews.

If you’re interested in a Citi mortgage, you can get prequalified or begin the preapproval process online, as well as apply for a loan or refinance through the bank’s website. The online form takes 15 minutes to 20 minutes to complete, and if qualified, you can get preapproved in as little as an hour, according to one of the bank’s loan officers. If buying a home, the bank’s SureStart preapproval can help you narrow down your price range and give your offer a competitive edge. Purchase closings typically take 45 days.

In addition, Citi’s website features a comprehensive checklist for homebuyers that outlines the documents and information you’ll need to apply for a loan, including for borrowers who are self-employed. You can also use the bank’s app to help manage the loan process and make payments later on, and can conveniently e-sign if needed.

If you need support, you can connect with the bank via chat, email, phone or text, or at one of its branches, currently located in 10 states (California, Connecticut, Florida, Illinois, Maryland, Nevada, New Jersey, New York, South Dakota and Virginia), Washington, D.C. and Puerto Rico.

Refinancing with Citibank

Citibank offers rate-and-term and cash-out refinancing. As with a purchase, you can apply online, by phone or in person.

Alternatives to Citibank

Citibank consumer reviews


NMLS: 412915


Rating: 3.3 stars out of 5

116 reviews

5 stars
4 stars
3 stars
2 stars
1 stars

About consumer ratings

Customer service rating

Rating: 3.5 stars out of 5
Level of service
Rating: 3.4 stars out of 5
Rating: 3.4 stars out of 5
Rating: 3.4 stars out of 5

55% of reviews would recommend this lender

0 of 0 rates honored

Review this lender

Write a review of your experience with Citibank.

Written by

Jeff Ostrowski

Senior mortgage reporter

Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2020, he wrote about real estate and the economy for the Palm Beach Post and the South Florida Business Journal.

Edited by

Suzanne De Vita

Arrow Right

Mortgage editor