Citibank mortgage review 2025

Core Insights - Citibank offers a variety of mortgage products with high customer satisfaction, including options for low down payments and closing cost assistance for qualified buyers [1][34] - The bank's HomeRun Mortgage program features a 3% down payment and no private mortgage insurance (PMI) requirement, available in select U.S. cities [6][10] - Citibank ranks No. 4 in the J.D. Power 2024 U.S. Mortgage Origination Satisfaction Study, indicating strong customer satisfaction [6][34] Loan Offerings - Citibank provides several types of home loans, including conventional loans, FHA loans, VA loans, jumbo loans, and its HomeRun Mortgage [7][6] - The HomeRun Mortgage allows qualified buyers to cover up to $7,500 in closing costs through the Lender Paid Assistance Program [6][10] - Current Citi customers can benefit from Relationship Pricing to save on closing costs or interest rates [6] Customer Experience - Citibank's website offers a range of online tools and resources for first-time home buyers, including a pre-approval tool and a comprehensive home buyer's guide [8][22] - The application process for a mortgage can be cumbersome, requiring account creation and personal information [20][22] - Citibank's HELOCs provide a way to maximize home equity, with options for interest-only payments available to qualified borrowers [12][13] Ratings and Comparisons - Citibank scores 4 out of 5 stars for mortgage rates but only 2 out of 5 stars for total loan costs, indicating competitive rates but higher overall costs [18][19] - Compared to Bank of America, Citibank offers lower down payment assistance but has a strong selection of loan products [28] - Citibank's HELOCs offer flexible draws, unlike Rocket Mortgage, which only provides a lump-sum option [31]