CityWorth Mortgage Review 2021

By Ellen Chang Jan. 1, 2021

Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.

At a glance

NMLS: 925476

4.3

Bankrate Score

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Loans offered

Conventional, FHA, VA, fixed, adjustable; refinancing options include rate-and-term refinancing, FHA and VA cash-out (IRRRL) and streamline refinancing

Nationwide availability

Available in Alabama, Arkansas, Florida, Georgia, Indiana, Maryland, Michigan, Minnesota, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and Wisconsin

Min. credit score required

620 for conventional loans; 580 for FHA loans

Pros and cons

Pros

Lower-credit score loan availability
DubbleUpp program encourages buying a home with a friend
Streamlined approval and underwriting process

Cons

No jumbo loans, HELOCs or home equity loans
Doesn’t offer immediate online preapproval; you have to speak to a loan advisor first

CityWorth overview

CityWorth Mortgage, also known as CityWorth Loans, is an online-only mortgage lender headquartered in Fairfax, Virginia. The mortgage lender offers conventional loans, refinancing, FHA streamline refinancing, VA cash-out and streamline (IRRRL) refinancing and VA debt consolidation loans.

Loan types

Conventional
FHA
VA
Fixed
Adjustable
Rate-and-term refinancing
FHA cash-out refinancing
FHA streamline refinancing
VA cash-out refinancing
VA streamline (IRRRL) refinancing

Lender fees

CityWorth Mortgage’s lender fees range from 1.5 percent to 3.5 percent of the loan.

Minimum borrower requirements

CityWorth Mortgage borrowers need a minimum credit score of 620 and can put as little as 5 percent down for a conventional loan.

Borrowers also can have a maximum debt-to-income ratio, or DTI, of 50 percent with a Fannie Mae HomeReady Mortgage. That means the sum of your monthly debts (including the new mortgage payment) cannot exceed 50 percent of your gross monthly income.

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