Skip to Main Content

CityWorth Loans Review 2024

Bankrate logo

The Bankrate promise

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

At a glance

CityWorth Loans
Editor's take

CityWorth Loans is a small-size mortgage lender working with borrowers mostly on the East Coast (plus Texas). It doesn’t offer as wide a loan variety as other large lenders, but it typically earns high marks from past customers for their experience. You won’t find a loan officer at a branch location, however; you’ll need to contact the lender online or by phone.

Bankrate Score
Info
3.4
Rating: 3.4 stars out of 5
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star

Bankrate Score

Mortgage Percent

Loans offered

Conventional, FHA, VA, refinancing

Credit Good

Min. credit score required

620 for conventional loans, 580 for FHA loans

Location

Nationwide availability

Florida, Georgia, Indiana, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Virginia

Dollar Coin

Min. down payment

Undisclosed

At a glance

CityWorth Loans

3.4

Rating: 3.4 stars out of 5
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star

Bankrate Score

Mortgage Percent

Loans offered

Conventional, FHA, VA, refinancing

Location

Nationwide Availability

Florida, Georgia, Indiana, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Virginia

Credit Good

Min. credit score required

620 for conventional loans, 580 for FHA loans

CityWorth Loans overview

CityWorth Loans is an online-only mortgage lender headquartered in Fairfax, Virginia. The lender offers conventional, FHA and VA loans and refinancing, including VA debt consolidation loans. It also offers a no-closing cost option in which you avoid paying upfront costs in exchange for a higher rate.

Pros and cons of CityWorth Mortgage

Pros
  • Checkmark

    Lower-credit score loan availability

  • Checkmark

    DubbleUpp program for peer-to-peer lending

  • Checkmark

    Streamlined approval and underwriting process

Cons
  • Close X

    No jumbo loans, HELOCs or home equity loans

  • Close X

    Doesn’t offer immediate online preapproval; you have to speak to a loan advisor first

Our Editor’s Take on CityWorth Loans

CityWorth Loans is a small-size mortgage lender working with borrowers mostly on the East Coast (plus Texas). It doesn’t offer as wide a loan variety as other large lenders, but it typically earns high marks from past customers for their experience. You won’t find a loan officer at a branch location, however; you’ll need to contact the lender online or by phone.

How Bankrate scored CityWorth Loans

  • Affordability: CityWorth Loans offers no-closing cost loans, but they carry a slightly higher interest rate.

  • Availability: CityWorth operates in some states (but not all), and it has a limited product lineup compared to that of other lenders.

  • Borrower experience: The lender utilizes the Loanzify app to help guide you through the process, and you can begin your mortgage application via its website.

Affordability: 6.6/10

CityWorth Loans doesn’t display mortgage interest rates on its website; you’ll need to fill out an application to see what you might qualify for. The lender’s fees range from 1.5 percent to 3.5 percent of the loan amount. One potential perk: You might be able to get a no-closing cost loan (the tradeoff being a higher rate).

Availability: 6.8/10

CityWorth Loans offers conventional, FHA and VA loans and refinancing, including VA debt consolidation loans. It doesn’t offer jumbo loans or home equity products. Its loans are available to qualified borrowers in Florida, Georgia, Indiana, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Virginia.

Borrower experience: 7.1/10

CityWorth Loans has funded $1.7 billion in loans thus far, and has an A+ rating from the Better Business Bureau and a 4.6 out of five stars on Trustpilot.

As an online lender, you can expect convenience in your experience with CityWorth, which currently averages 24 days on loan approvals (according to the lender’s website). While its site is somewhat limited when it comes to educational information, it does explain the benefits of buying a home over renting and offers tips for first-time homebuyers, among other resources.

How to apply for a mortgage with CityWorth Loans

You can apply for a mortgage with CityWorth Loans online or by phone at 877-908-6250. Here are some tips to prepare for the process:

  1. Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.

  2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.

  3. Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Refinancing with CityWorth Mortgage

CityWorth Loans offers both rate-and-term and cash-out refinancing options. The lender doesn’t display its refi rates or fees online, however, so you’ll have to start the application process if you want to learn more about costs.

Compare CityWorth Loans to other lenders

CityWorth Loans
Rating: 3.4 stars out of 5
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star

3.4

Bankrate Score
Info
Valley Bank
Rating: 4.4 stars out of 5
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star

4.4

Bankrate Score
Info
Read full review
TD Bank
Rating: 3.9 stars out of 5
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star
  • Star

3.9

Bankrate Score
Info
Read full review

Loans offered

Conventional, FHA, VA, refinancing

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Min. credit score required

620 for conventional loans, 580 for FHA loans

Min. credit score required

Undisclosed

Min. credit score required

620 for conventional loans

Down payment

Undisclosed

Down payment

3% for conventional loans; 3.5% for FHA loans; none for VA loans and USDA loans

Down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans

Nationwide availability

Florida, Georgia, Indiana, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Virginia

Nationwide availability

All U.S. states

Nationwide availability

Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia and Washington, D.C