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First Citizens Bank Mortgage Review 2023

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At a glance

First Citizens Bank

NMLS: 503941


Rating: 4.5 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term refinancing; construction and renovation loans; interest-only


Nationwide Availability

Available in all U.S. states

Credit Good

Min. credit score required

620 for conventional loans; 701 for jumbo loans; 620 for FHA loans; 640 for USDA loans

Pros and cons

Checkmark Pros

  • Offers relationship discounts for banking customers
  • Provides construction and renovation financing

Close X Cons

  • Offers online prequalifications, not preapprovals

First Citizens Bank overview

The biggest family-run bank in the U.S., First Citizens Bank assists borrowers with mortgages, in addition to offering banking, business and wealth services. The bank is based in Raleigh, North Carolina, and was founded in 1898. In 2022, it acquired CIT Group, which included CIT and OneWest banking customers.

First Citizens Bank is good for

Borrowers interested in variety of types of mortgages, including construction and renovation loans, and a quick closing

Breakdown of First Citizens Bank overall score

  • Affordability: First Citizens Bank offers competitive mortgage rates with typical closing costs and fees.
  • Availability: First Citizens operates in all states and provides conventional loans, government-backed mortgages and other types of loans.
  • Borrower experience: You can initiate a request for an approval and a rate quote, as well as apply for a mortgage, via the First Citizens Bank website. 


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

First Citizens Bank’s mortgage rates are below Bankrate’s averages, meaning you might stand to obtain a favorable rate with this lender, provided you qualify. The bank’s charges for a mortgage might include an origination fee, rate-lock fee and other closing costs.

Availability: 4.3/5

First Citizens Bank provides mortgages to borrowers in all 50 states, from conventional and government-insured loans through the FHA, VA and USDA programs to options to refinance your existing mortgage. The lender also offers jumbo loans, construction loans and home renovation loans.

Borrower experience: 4.5/5

First Citizens Bank has been in business for more than a century. The bank has an A rating from the Better Business Bureau.

As a borrower, you can set up a free online account to ask for preapproval, a process that typically requires three to five days. Then a mortgage banker will reach out to discuss your options. The bank’s average time to close a purchase loan, as of this review, was 25 days.

If you have questions about a loan, First Citizens Bank is available Monday through Friday from 9 a.m. to 6 p.m. ET. Your loan officer might also be available after hours or on weekends as needed.

Refinancing with First Citizens Bank

You can refinance your current mortgage with First Citizens Bank. You’ll need to complete a form for a rate quote and an estimate of costs.

Alternatives to First Citizens Bank

First Citizens Bank consumer reviews


NMLS: 503941


Rating: 4.7 stars out of 5

97 reviews

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About consumer ratings

Customer service rating

Rating: 4.7 stars out of 5
Level of service
Rating: 4.7 stars out of 5
Rating: 4.7 stars out of 5
Rating: 4.7 stars out of 5

93% of reviews would recommend this lender

6 of 6 rates honored

Review this lender

Write a review of your experience with First Citizens Bank.

of 6 reviews

The consumer reviews posted on ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

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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