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  Citizens Bank Home Mortgage

Citizens Bank Home Mortgage

in Home Purchase Mortgages from Citizens Bank

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Citizens Bank Home Mortgage

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in Home Purchase Mortgages from Citizens Bank

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Highlights
Loan Amount Starting at $50,000
Loan Term (Years) 15 - 30 years
Credit Score Range 600 - 850

Citizens Bank Home Mortgage Review

Citizens Bank Home Mortgage is offered by Citizens Bank, a bank founded in 1828 and based in Providence, RI. Citizens Bank Home Mortgage is available in 11 states across the USA.

Key Takeaways
  • Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
  • Standard interest rates types. Citizens Bank Home Mortgage offers adjustable-rate mortgages and fixed-rate mortgages.
  • Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • Maximum LTV. Citizens Bank Home Mortgage has a maximum loan to value ratio of 80%.
  • Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for Citizens Bank Home Mortgage.
Citizens Bank Home Mortgage Pros & Cons
Pros Cons
  • Considers applicants with fair credit.
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 11 states.
Citizens Bank Home Mortgage FAQ

What is the maximum loan term you can get with Citizens Bank Home Mortgage?

Citizens Bank Home Mortgage offers mortgages with terms ranging from 15 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does Citizens Bank offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Citizens Bank Home Mortgage offers home loans with APRs starting at 2.722% .

What is the estimated funding time?

Citizens Bank Home Mortgage will typically fund mortgages within 45 and days of approval.

Does Citizens Bank Home Mortgage charge an application fee?

Do they charge mortgage origination fees?

Yes, Citizens Bank Home Mortgage may charge a loan origination fee.

What property usage types does Citizens Bank Home Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Citizens Bank Home Mortgage allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
  • Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for this business card is (877) 360-2472.

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Availability

  Available in 11 states
  • Connecticut
  • Delaware
  • Massachusetts
  • Michigan
  • New Hampshire
  • New Jersey
  • New Mexico
  • Ohio
  • Pennsylvania
  • Rhode Island
  • Vermont

Feature Breakdown

Credit Score Range 600 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Joint Loan Applications Accepted
  • Co-borrower
Maximum LTV 80%
Minimum Age 18
APR Starting at 2.722%
Loan Amount Starting at $50,000
Loan Term 15 - 30 years
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)

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