Pros and cons of Citi Mortgage
Citi Mortgage Pros:
- Offers low down payment options, including 3% for conventional loans and no down payment for VA loans.
- Provides closing cost assistance of up to $7,500 for qualifying borrowers.
- Existing Citi customers can get interest rate discounts and a $500 closing cost credit.
- HomeRun Mortgage allows 3% down with no private mortgage insurance.
- Loans are available in all 50 states.
Citi Mortgage Cons:
- Doesn’t offer USDA loans, which may be a dealbreaker for rural buyers.
- Requires a 620 credit score for VA loans, higher than some competitors.
- Trustpilot rating is just 1.2 out of 5 stars.
- You’ll need to contact a loan officer for personalized rate quotes online.
Cit Mortgage Interest Rates
Citi Mortgage interest rates in 2025 are generally competitive with the national average and may be especially appealing for borrowers with strong credit or an existing relationship with Citi. While mortgage rates can vary based on loan type and borrower profile, Citi often positions itself as a cost-conscious option for buyers looking to keep monthly mortgage payments manageable.
| Loan Type | Average Interest Rate |
| Conventional 30-Year | 6.88% |
| Conventional 15-Year | 5.89% |
| FHA 30-Year | 6.22% |
| VA 30-Year | 6.42% |
Average rate and fee data sourced from public rate and fee records required by the Home Mortgage Disclosure Act (HMDA).
Remember that interest rates vary a lot by customer. Your rate depends on your credit score, down payment, loan type, and home price. That means you shouldn’t take average rates (or advertised rates) at face value. Instead, pick three to five lenders you’re interested in and get rate quotes from each. Then, compare the interest rates, closing costs, and other fees to see which lender can give you the best deal.
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Citi Mortgage Review for 2025
In 2025, Citi Mortgage remains a solid choice for borrowers seeking flexible loan options and affordable terms. The lender’s mortgage programs cater to various financial situations, from first-time home buyers to those needing jumbo loans. Its strengths lie in competitive rates and financial assistance programs, especially for those who already bank with Citi. Still, borrowers should consider the company’s customer service reputation and contact a loan officer for personalized rate details.
This Citi Mortgage lender review reveals a broad footprint backed by Citibank’s nationwide presence and full suite of financial services. Customers who already use Citi for checking, savings, or investment accounts may find added convenience—and even financial perks—by keeping their mortgage under the same roof.
Affordability
Citi Mortgage scores about average on The Mortgage Reports affordability index, but its fees are notably low. Its average origination fee is around $1,750, far below the national average of $2,792. Citi Morgage interest rates are competitive, with APRs that can be nearly a whole point lower than the market average. Citi’s home loan lineup includes:
- VA loans: 0% down
- FHA loans: 3.5% down
- Conventional loans: 3% down
If you’re already a Citi banking customer, you could receive a $500 credit at closing and interest rate reductions between 1/8% and 5/8%, depending on your account balance. Citi’s HomeRun Mortgage is another standout. It requires just 3% down on single-family homes (including condos and co-ops) and 5% down for duplexes, with no private mortgage insurance (PMI).
Lending flexibility
Citi Mortgage offers a comprehensive range of loan types: conventional, jumbo, FHA, VA, and its proprietary HomeRun Mortgage. These are available for both home purchases and refinances in all 50 states. That said, if you’re looking for a USDA loan for a property in a rural area, you’ll need to consider a different lender—Citi doesn’t offer them.
Trustworthiness
Clients filed a larger-than-average number of complaints against Citi Mortgage with the Consumer Financial Protection Bureau (CFPB). However, it placed fourth in J.D. Power’s 2024 U.S. Mortgage Origination Satisfaction Study, which is a good sign for those concerned about its mortgage application process.
However, due to unresolved customer complaints, the lender lacks Better Business Bureau accreditation and currently holds an “F” rating. Trustpilot reviews also paint a negative picture, with an average rating of just 1.2 out of 5 stars from over 100 reviewers. It’s important to note that not everyone has a bad experience. Some users have reported positive interactions that contrast with the majority of reviews.
Customer experience
You can start your Citi Mortgage application online, over the phone, or at a local branch. The lender offers a SureStart preapproval, which gives you a firm lending commitment. It’s helpful if you’re trying to stand out in a competitive housing market.
Citi publishes general interest rates on its site, but you’ll need to speak directly with a loan officer for a personalized rate quote. That extra step may be a drawback if you’re hoping to compare quotes online. Customer support is available Monday through Friday from 8 a.m. to 10 p.m. ET and Saturday from 9 a.m. to 7 p.m. ET. You can also schedule calls to avoid wait times.
FAQs about Citi Mortgage
Citi Mortgage typically requires a minimum credit score 620 for conventional and VA loans and a 580 FICO score for FHA loans. Other loan programs may have different score requirements, so it’s best to talk to a Citi loan officer for details.
Closing costs with Citi Mortgage vary based on loan type and location but generally range from 1% to 4% of the loan amount. Eligible borrowers may receive up to $7,500 in closing cost assistance.
No, Citi Mortgage does not offer USDA loans. Borrowers interested in USDA financing should consider alternative lenders.
HomeRun is Citi’s low-down-payment program that lets you buy a home with just 3% down and no PMI. It covers single-family homes, condos, and co-ops (duplexes require 5% down).
If you bank with Citi, you may be eligible for a $500 credit at closing and interest rate discounts ranging from 1/8% to 5/8%, depending on your Citibank account balances.
Is Citi Mortgage the best mortgage lender for you?
Citi Mortgage makes homeownership more accessible with low down payment options and closing cost assistance, especially for first-time buyers and existing Citi customers. Its nationwide availability and flexible loan programs make it a convenient option.
But this 2025 Citi Mortgage lender review reveals a few trade-offs: namely, lower customer satisfaction scores. As always, comparing multiple lenders is the best way to find the right fit for your situation. It may be worth exploring further if you value low upfront costs and already have a relationship with Citi. Just make sure to weigh all your options before making a final decision.
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How The Mortgage Reports scored Citi Mortgage
The Mortgage Reports evaluates and ranks lenders based on four key factors, each weighted to reflect its impact on the borrowing experience.
- Trustworthiness (20%): Measures customer satisfaction and reliability based on Consumer Financial Protection Bureau (CFPB) complaints per 1,000 loans and ratings from reputable third-party review platforms such as Trustpilot.
- Customer experience (20%): Examines the lender’s digital and service accessibility, including the availability of an online pre-approval or pre-qualification process, ease of contact, and the presence of a current rates page on their website.
- Affordability (20%): Assesses the average origination charges and the average interest rate the lender offers.
Lending flexibility (40%): Evaluates the lender’s minimum down payment and credit score requirements, as well as the availability of FHA, VA, and USDA loan options.
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Written by: Peter Warden