Citizens Bank Inc Mortgage Rates, Fees & Info

Robertsdale, AL

LEI: 5493000XGU4RX824L971

Tax ID: 63-0808871

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Citizens Bank Inc is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Citizens Bank Inc has a high proportion of conventional loans. Their top markets by origination volume include: Daphne, Mobile, Montgomery, and Pensacola among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Citizens Bank Inc has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    53

    Origination Dollar Volume (All Markets)

    $8,525,000

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 50 $8,330,000 $166,600 $1,033 5.38%
    MOBILE, AL (FHA|USDA|VA) 1 $115,000 $115,000 $0 5.30%
    MONTGOMERY, AL (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.50%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.38%
    Citizens Bank Inc's top markets include Daphne, Mobile, Montgomery, and Pensacola among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 53 $8,525,000 $160,849 $1,033 5.36%

    For 2018, Citizens Bank Inc's most frequently originated type of loan was Conventional, with 53 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 36 $3,880,000 $107,778 $500 5.59%
    Home Purchase 10 $2,750,000 $275,000 $4,282 4.88%
    Cash Out Refi 7 $1,895,000 $270,714 $1,431 4.89%

    For 2018, Citizens Bank Inc's most frequently cited loan purpose was Refi, with 36 originations. The 2nd most popular reason was Home Purchase, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 28 $4,930,000 $176,071 $487 5.11%
    Other 17 $3,025,000 $177,941 $1,256 5.58%
    10 Year 5 $235,000 $47,000 $540 6.43%
    1 Year 2 $280,000 $140,000 $0 4.81%
    3 Year 1 $55,000 $55,000 $0 4.63%

    For 2018, Citizens Bank Inc's most frequently cited loan duration was 5 Year, with 28 originations. The 2nd most popular length was Other, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 22 $2,500,000 $113,636
    $5k+ 1 $705,000 $705,000

    Citizens Bank Inc's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 22 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 22 $3,720,000 $169,091
    5-6% 18 $3,980,000 $221,111
    6-7% 13 $825,000 $63,462

    During 2018, Citizens Bank Inc's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 22 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 29 $1,575,000 $54,310 $618 5.52%
    $100k-200k 14 $2,080,000 $148,571 $856 5.29%
    $200k-400k 5 $1,585,000 $317,000 $291 4.98%
    $600k-1MM 3 $2,405,000 $801,667 $9,412 5.33%
    $400k-600k 2 $880,000 $440,000 $41 4.69%

    2018 saw Citizens Bank Inc place emphasis on $100,000 or less loans with 29 originations, totaling $1,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 14 $860,000 $61,429 $842 5.76%
    $150k-250k 10 $3,150,000 $315,000 $3,315 5.10%
    $75k-100k 9 $1,025,000 $113,889 $460 5.44%
    $50k-75k 6 $480,000 $80,000 $593 5.77%
    $100k-150k 4 $600,000 $150,000 $491 4.75%
    $250k+ 2 $530,000 $265,000 $0 4.60%

    Citizens Bank Inc lent most frequently to those with incomes in the $50k or less range, with 14 originations. The second most popular income band? $150k-250k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 10 $1,240,000 $124,000 $491 4.87%
    20-30% 9 $1,955,000 $217,222 $2,080 5.18%
    50-60% 5 $285,000 $57,000 $730 5.75%
    30-36% 4 $360,000 $90,000 $861 4.86%
    >60% 3 $115,000 $38,333 $488 6.58%
    36% 3 $515,000 $171,667 $388 5.96%
    37% 3 $1,305,000 $435,000 $1,252 5.30%
    41% 2 $450,000 $225,000 $1,082 5.05%
    43% 1 $65,000 $65,000 $485 6.25%
    44% 1 $55,000 $55,000 $491 6.25%
    45% 1 $55,000 $55,000 $491 6.50%
    48% 1 $25,000 $25,000 $0 5.38%
    40% 1 $65,000 $65,000 $490 4.69%

    Citizens Bank Inc lent most frequently to those with DTI ratios of <20%, with 10 originations. The next most common DTI ratio? 20-30%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 43 $6,515,000 $151,512 $1,085 5.39%
    Not applicable 8 $1,880,000 $235,000 $0 5.12%
    Not provided 1 $75,000 $75,000 $491 4.99%
    American Indian 1 $55,000 $55,000 $491 6.50%

    Approval Rates

    Total approvals of all applications
    96.83%

    Citizens Bank Inc has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    84.91%

    Citizens Bank Inc has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 53 $8,525,000 $160,849

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 11 $515,000 $46,818
    Single Family (1-4 Units):Site-Built 42 $8,010,000 $190,714

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $550,000 $55,000 $525 5.81%
    40-60% 9 $675,000 $75,000 $586 5.12%
    60-80% 14 $2,020,000 $144,286 $649 5.38%
    80-100% 16 $5,000,000 $312,500 $2,353 5.00%
    Under 20% 4 $280,000 $70,000 $488 6.15%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 9 5.3%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 5 2.9%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Improper use of your report 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 16 9.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 36 21.1%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 1.2%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Closing on a mortgage 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 8 4.7%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 9 5.3%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 7 4.1%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 41 24.0%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 1.2%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 4 2.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 15 8.8%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 1 0.6%