Citibank Mortgage Review 2025

Citibank is part of banking giant Citigroup, Inc. It provides a variety of mortgage options, including the standard suite of conventional, jumbo and government-backed loans (with the exception of USDA loans). Its HomeRun Mortgage program can help you finance a single-family home or condo with only 3 percent down (or a duplex with 5 percent down) and no private mortgage insurance (PMI). 

Pros and cons of Citibank

Affordability: 5/5

Because of Citi’s low APRs, closing costs credits and low down payment requirements, it gets a perfect 5 out of 5 stars for affordability.

• Interest rates: Citibank offers competitive mortgage rates, with APRs nearly a full percent below market average at the time of this writing.
• Down payment: Citibank offers VA loans with no down payment, FHA loans with 3.5 percent down and conventional loans with just 3 percent down.
• Fees: Citibank’s loan fees, including origination fees, vary by loan type.
• Closing costs: Closing costs vary depending on many factors, but you can expect to pay 1 to 4 percent of the loan amount in closing costs. At the time of this review, Citibank offers a promotional $500 closing cost credit just for getting your mortgage with the bank. The lender also has a closing cost assistance program for eligible borrowers that offers up to $7,500 in lender credits.

Availability: 5/5

Citibank offers a wide variety of loans and is available nationwide, so it scored a perfect 5 out of 5 stars for availability.

• Home loans offered: Citibank offers conventional, jumbo, FHA and VA purchase and refinance options.
• Footprint: You can get a Citibank mortgage in all U.S. states.
• Where to find: You can apply for a mortgage on the lender's website, over the phone or at a branch location.

Borrower experience: 4.2/5

Citibank gets high marks for borrower experience due to multiple contact methods and its SureStart preapprovals. However, because you need to contact the lender for a personalized rate quote, it only scores 4.2 out of 5 stars in this category.

• Application and preapproval process: You can start the preapproval and application process with Citibank online, over the phone or in person at a branch location. You’ll need to submit to a credit check, as well as provide proof of income and assets. Citibank offers a SureStart preapproval, which, unlike most preapprovals, comes with a guarantee to lend. This kind of preapproval can make your offers on homes look more competitive. 
• Transparency: While Citibank lists rates online, you’ll need to speak with a loan officer to get a customized quote so you can compare your options.
• Customer service: Citibank offers multiple contact methods, including in person, over the phone and through an online account portal. Customer service hours by phone are Monday through Friday, 8 a.m. to 10 p.m. ET and Saturday, 9 a.m. to 7 p.m. ET.

Citibank is a major banking institution and ranked fourth for customer satisfaction in J.D. Power’s 2024 mortgage origination satisfaction study. However, the bank isn’t accredited by the Better Business Bureau and currently has an “F” rating from the organization for failure to respond to or resolve complaints, among other factors. At the time of this review, the bank had 1.2 out of 5 stars on Trustpilot based on more than 100 reviews.

What consumers say about Citibank

On Bankrate, consumer reviews of Citibank are largely positive. Consumers praise the ease of application and the work and communication of the loan professionals. They also express happiness toward the low rates and terms honored by the lender.

HomeRun Mortgage

The HomeRun mortgage program is a conventional mortgage that only requires 3 percent down and comes with no mortgage insurance. Borrowers can use it to purchase or refinance a single-family home, condo or co-op and a two-unit property. The program is only available in certain states and census tracts, which are listed on the lender's website. To start the process with a HomeRun mortgage, you’ll need to fill out a lead form online and speak with a loan officer.

Citibank offers rate-and-term and cash-out refinancing options. Refinance closing costs typically total 1 to 4 percent of the loan amount, according to the bank. Citibank displays refinance rates on its website, but you'll need to contact the lender to receive a custom quote.

You can apply for a mortgage with Citibank in person at a branch location, online or by phone at 800-248-4638. 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 a home appraisal. (If you’re refinancing, you might or might not need an appraisal.)