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CitiMortgage

CitiMortgage

 4.0/5 (1171 ratings)
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Looking to refinance your mortgage?

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About CitiMortgage

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

CitiMortgage is the lending branch of Citigroup. It offers home loans ranging from conventional to FHA products. Its rates are fairly affordable when compared with other lenders, but mortgage rates vary depending on your situation. It provides cashback and rewards programs and closing cost credits for some borrowers.

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Top CitiMortgage Reviews

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Rated with 5 stars
Verified

We refinanced with CITI twice. The whole process was fast, easy and all done via computer except when we had to sign. Representatives were very informative and patient. Always kep...

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Rated with 5 stars
Verified

The most important thing is the time it takes to complete the loan process and what is necessary to do so. The application at CitiMortgage was quick and easy with associates being...

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Looking to refinance your mortgage?

See which lender is best for you!

View Rates

What is CitiMortgage?

CitiMortgage is a financial institution that offers various mortgage loans. You can choose between short- and long-term mortgages and products like conventional, FHA, jumbo and VA loans. It provides refinancing services and lets you use your home equity to get a Home Equity Line of Credit (HELOC). It also offers a fixed-rate home equity loan.

One aspect that sets CitiMortgage apart from its competitors is its special pricing for new and existing clients. You could qualify for closing cost credits or a lower interest rate on your mortgage. You’ll also receive rewards points for banking with Citi and qualify for cashback if you shop with its Double Cash card.

How does CitiMortgage work?

To get started with CitiMortgage, you’ll need to select the right loan program for you. It offers a variety of lending, refinancing and home equity options, including:

  • Conventional
  • FHA
  • Jumbo
  • VA
  • Fixed-rate mortgage
  • Adjustable-rate mortgage
  • HELOC
  • Fixed-rate home equity

Once you’ve chosen a suitable loan, you’ll complete the mortgage application and provide consent to proceed. Then CitiMortgage will ask you to submit various documents, such as signed disclosures, bank statements, tax returns and details of your employment.

Within three days of receiving your application, the lender will provide a loan estimate. CitiMortgage has to appraise your home to determine its market value, then an underwriter will analyze your application and make a final decision. Once your application is approved, you’re ready to close.

CitiMortgage rates

CitiMortgage lists its interest rates on its website. Though mortgage rates fluctuate depending on the economy, CitiMortgage’s rates seem relatively affordable in general. CitiMortgage will determine your interest rates based on several factors, including your home’s location and loan amount. Work with a company representative to get an accurate estimate of your mortgage interest rates.

CitiMortgage FAQ

Who owns CitiMortgage?
Citigroup is the parent company of CitiMortgage. Citibank and Citi Retail Services are also part of this group.
How long does it take to get approved for a CitiMortgage loan?
CitiMortgage requires 45 days to provide a response. In some cases, it might need more time. If this is true for you, CitiMortgage will notify you.
Where is CitiMortgage available?
CitiMortgage is available in all 50 states.
Does CitiMortgage sell its loans?
Yes, it does, which can simplify its operations, improve returns on capital and reduce expenses.

Is CitiMortgage legit?

Yes. CitiMortgage is available in all 50 states and offers conventional, jumbo, VA and FHA mortgage loans. You can also choose to refinance your home or get loans through home equity. CitiMortgage offers special rates to new and existing customers, rewards for banking with Citibank and cashback benefits for shopping with Citi’s Double Cash card.

CitiMortgage Reviews

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How do I know I can trust these reviews about CitiMortgage?
How do I know I can trust these reviews about CitiMortgage?
  • 3,394,562 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: Sept. 18, 2021

CitiBank was happy to take my $685 for "upfront fees" but my loan officer Eric ** never replied to my calls or emails after they got this payment. Seems like a scam. They would not respond, either Eric or the loan processor Avis **.

Be the first one to find this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 29, 2021

I want to echo the experiences that several others have posted here regarding the refinance process with Citi Mortgage. I applied for a refinance of our 30-year home loan in October of 2020 to take advantage of a promotion offered at the time to reduce our closing costs by $1000. They were able to take our information quickly and lock in a lower rate. We were told we would be able to close in approximately 30 days. We waited patiently for 6 months to get our loan finalized. During that time, we were asked to submit our most recent paystubs multiple times. Our credit was pulled a second time because the first report expired after 90 days. The status of our application was always "Your Loan Application Status: Credit & Income Approved" and that they were waiting for underwriting to finish. It was nearly impossible to reach a loan representative to get an update.

Finally, we got tired of waiting for this loan to close and shopped around for other options. We were able to go with another company/product and they were able to close our refinance in 30 days! We locked in the same rate Citi offered and didn't have to pay points. We requested a refund of our upfront costs to Citi. It's been six weeks and we're waiting for that check to arrive..

I'm going to make some assumptions here. Citi Mortgage does not care to refinance your loan. Our mortgage was with them, handled by Cenlar. Paying less in interest does not make much business sense and all they really want to do is keep the consumer hanging, continuing to pay the monthly balances at a higher rate. We save over $500 a month after refinancing - Citi does not want to lose that money. We lost over $3000 paying a higher mortgage payment over the 6-7 months while Citi twiddled their thumbs. However, in seeing some of these reviews, Citi Mortgage is quite quick and attentive when handing new mortgage loans. Of course they want new business and will pour resources in that area. Possibly they could not handle the volume of refinance applications. Why advertise a discount on closing costs if you can't handle the load?

I'm sure my frustration is shared with many others and the only thing that's keeping things calm is cutting ties with this lender and being able to refinance elsewhere. There seriously needs to be a lawsuit filed against this company for the loss of time and money by its customers. My suggestion for anyone reading this is to stay away from this company entirely, whether it be for your first home loan and definitely for a refinance. Take your business elsewhere.

17 people found this review helpful

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    Rated with 1 star
    Verified Reviewer
    Original review: June 25, 2021

    Citibank is delayed by 7+ months processing home loans; Keeping sellers trapped in the homes they need to sell, preventing buyers from owning a home, and destroying the livelihood of the agents involved with the sales that depend on the commissions to earn a living. I'm an agent in Queens, NY and two of my deals have been severely delayed by Citibank's underwriting department that is apparently unable to review and approve or deny home loans. They are keeping everyone in limbo while trying to play catch-up, still taking on new applications, and deals are starting to fall apart over this. I'm hearing the same from multiple agents with other real estate companies. DO NOT ACCEPT AN OFFER FROM A BUYER USING CITIBANK! ***IF YOU ARE A BUYER, CITIBANK IS WHERE DREAMS OF HOMEOWNERSHIP GO TO DIE!!!

    15 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 15, 2021

    I applied and was approved for a refinance to lower my interest rate in October, 2020. It it now the middle of June, 2021 and still no closing date. I continue to get calls and emails that documents have expired and I must submit XYZ by a certain date. Ok... I’ve sent those 5 times. I’ve had the same job for 17 years, same house over 20. They’ve had to pull my credit report twice, due to the length of time, it’s expired. The second time was in Feb. I’m sure it’s due to expire again soon. My daughter bought a house and start to finish, closed in 30 days. I’ll celebrate an anniversary with Citibank if we make this last all summer. What a joke... I can’t even get an answer back from anyone about a refund of the $1k prepaid closing costs I gave them in November to just move on with a different lender. Never again. Use anyone else, literally ANY OTHER BANK!!

    13 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: April 29, 2021

    A simple refi to lower interest rate started in early January and still lingers. The customer service was less than 1 star. We had an existing gold star relationship with CITI and escalated several times with zero progress. The CITI strategy is to delay and then request updated information-multiple times. We provided an encyclopedia of requested documents and they are clearly overwhelmed. We will discontinue business with CITI with zero regrets. We are researching FBA complaint process.

    13 people found this review helpful
    Rated with 1 star
    Verified Reviewer Verified Buyer
    Original review: Feb. 19, 2021

    I started the process of refinancing my coop on September 19th and after submitting the required documentation weekly/monthly and not hearing for a couple of months I started to reach out to my loan officer after the Thanksgiving holiday. After speaking with him in early December and insisting he look into what the delay was, he informed me that there was an issue with the coop lease. I requested a refund at that time and was told I couldn't get a refund because the issue was on my end. I reached out to my coop management to be told there were no issues with loans and Bank of America and Chase were processing loans without any issues. When I reached back to my loan officer and advised him of this and requesting a full refund I was told I couldn't get a refund because it wasn't Citibank's fault. It was on my end.

    For the next 30 days after going into my 5th month of this process I again requested a refund after both my loan officer and his manager were non responsive and were not communicating the status of my loan. Obviously, someone dropped the ball and didn't do their job as I had to do all of the investigating to find out what was going on, very frustrating and unprofessional way of conducting business. I was not refunded all of the the moneys. I was only refunded their upfront fees, however I lost additional fees of $525.00. I had to pay my coop management and lawyer for the process of refinancing my loan. I would never recommend or do any business with Citibank or any of their partners, they are incompetent.

    10 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 23, 2020

    1. See all consumer review with CENLAR, you will understand what this trick is.

    2. DO NOT BELIEVE "EARLY TERMINATION FEE" THEY CLAIMED BEFORE YOU SIGN CONTRACT, BELIEVE WHAT YOU READ ON CONTRACT;

    3. Cenlar will be your nightmare after CITI signed the contract with you and transfer the loan to CENLAR.

    9 people found this review helpful
    Rated with 5 stars
    profile pic of the author
    Verified Reviewer
    Original review: Sept. 4, 2020

    So my loan started off with CitiBank which provided top notch service with my mortgage and customer service but then they transferred my loan to a subsidiary called Cenlar (still owned by Citi) and I had a few issues including 2nd rate Customer service compared to Citi and errors on my Credit report that I had to dispute.

    2 people found this review helpful
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: July 22, 2020

    Inferior and unprofessional customer service. I wonder why CitiMortgage put an unprofessional person to assist a customer. CitiMortgage is losing a customer because of those poorly qualified people. They better take action! The rude lady national... ID number is **. She does not deserve to be servicing a customer.

    10 people found this review helpful
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: July 21, 2020

    Financed home in 1992 with a company that "sold" the mortgage prior to 1998 to CitiMortgage. Refinanced with CitiMortgage in 1998. When selling home in 2020 we find out that proper lien release was not filed for the 1992 loan when CitiMortgage paid off their own loan. Money had to be placed in Escrow if we wanted to sell the house without a clear title. Dozens of emails from me and the closing agent at our title company and 2 months later we still have not been notified by Citi that this lien release has been properly filed so that we can get our funds from Escrow.

    11 people found this review helpful
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    CitiMortgage Company Information

    Company Name:
    CitiMortgage
    Website:
    www.online.citi.com