Citibank Mortgage Review 2021

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At a glance


NMLS: 412915


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Bankrate Score

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Loans offered

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

Available in all U.S. states, the District of Columbia and Puerto Rico
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Min. credit score required

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

Pros and cons


  • 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


  • 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. Citibank 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). Citigold clients with at least 15 percent down could also be eligible for a conventional no-PMI loan. Additionally, the bank offers rate-and-term and cash-out refinancing. Borrowers can apply for a loan online or by phone, or in person at many of Citibank's 700 branch locations in 10 states (California, Connecticut, Florida, Illinois, Maryland, Nevada, New Jersey, New York, South Dakota and Virginia), Washington, D.C., or Puerto Rico. If buying a home, the bank’s SureStart preapproval can help you narrow down your price range and give your offer a competitive edge. According to one of the bank’s loan officers, closings typically take 30 to 40 days. Citi banking customers are also eligible for closing cost or interest rate discounts depending on bank balance.

Good for

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

Loan types

  • Conventional
  • Jumbo
  • FHA
  • VA
  • Fixed-rate
  • Adjustable-rate
  • Rate-and-term and cash-out refinancing

Lender fees

Citibank’s lender fees vary by loan type. Combined closing costs, including the lender’s fees, generally range from 1 percent to 4 percent of the home’s value, according to the bank’s website. Account holders who sign up for auto-withdrawals of mortgage 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 $250 on closing costs.


Citibank advertises mortgage rates online. (Note: At the time of Bankrate’s review, these rates were “temporarily unavailable.”)


Citibank is one of the major banking institutions and ranked fourth for customer satisfaction in J.D. Power’s 2020 mortgage origination report. It is not accredited by the Better Business Bureau and currently has an F rating from the organization for failure to respond to or resolve complaints, among other factors. The bank has a 1.9 out of five star rating from Trustpilot based on approximately 20 reviews.

Online services 

Borrowers interested in a Citibank mortgage can get prequalified or begin the preapproval process online, as well as apply for a loan or refinance through its website. The online form takes 15 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. 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. Lastly, if you need support, you can connect with the bank via chat, email or text. 

Minimum borrower requirements 

Citibank adheres to the conforming loan requirements for mortgages approved by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, as well as those backed by the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA). For conventional loans, key requirements include good credit (typically a FICO score of 620 or higher) and at least 3 percent down.

Refinancing with Citibank

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

Not sure if Citibank is right for you? Consider these alternatives

Breakdown of Citibank overall review score

  • Affordability: 14.75/15
  • Availability: 17/20
  • Borrower experience: 14/15

Review methodology

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.

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Citibank consumer reviews


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116 reviews

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Customer service rating

Level of service

55% of reviews would recommend this lender

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Written by
Dhara Singh
Mortgage reporter
Dhara Singh is a former mortgage reporter for Bankrate.
Edited by
Mortgage editor