Citizens Bank Mortgage Rates, Fees & Info

Mukwonago, WI

LEI: 5493002FSR6V2NM1K863

Tax ID: 39-0210030

5 stars - Updated: 11/17/24 - out of 5 stars, based on 11 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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 is a smaller bank specializing in Home Purchase loans. Citizens Bank has a high proportion of conventional loans. Their top markets by origination volume include: Milwaukee, Whitewater, Racine, Watertown, and Madison among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Citizens Bank 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. Citizens Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.76% 11/17/24
    30 Year Conventional Refi 6.38% 11/17/24
    30 Year Cash-out Refi 6.38% 11/17/24
    15 Year Conventional Purchase 6.32% 11/17/24
    15 Year Conventional Refi 5.97% 11/17/24
    15 Year Cash-out Refi 5.97% 11/17/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Citizens Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Citizens Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    119

    Origination Dollar Volume (All Markets)

    $28,645,000
    Show all (5) awards

    Relative Rate

    Citizens Bank's average 30 year fixed mortgage rate was 6.3%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.18%.

    Relative Fees (Closing Costs)

    Citizens Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,761.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 81 $20,305,000 $250,679 $1,697 6.46%
    Whitewater, WI (FHA|USDA|VA) 22 $4,500,000 $204,545 $1,988 6.65%
    RACINE, WI (FHA|USDA|VA) 7 $2,445,000 $349,286 $1,884 6.82%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 4 $430,000 $107,500 $1,261 6.81%
    MADISON, WI (FHA|USDA|VA) 1 $345,000 $345,000 $3,244 7.50%
    Outside of Metro Areas 2 $340,000 $170,000 $2,127 6.31%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $235,000 $235,000 $3,824 6.00%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $45,000 $45,000 $2,850 6.50%
    Citizens Bank's top markets include Milwaukee, Whitewater, Racine, Watertown, and Madison among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Citizens Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    NORTHWESTERN MUTUAL
    Similarity Rank: 44
    Glacier Hills Credit Union
    Similarity Rank: 54
    National Exchange Bank and Trust
    Similarity Rank: 112
    Empower Credit Union
    Similarity Rank: 203
    The First National Bank and Trust Company
    Similarity Rank: 255
    PyraMax Bank, FSB
    Similarity Rank: 270
    Citizens Bank
    Similarity Rank: 296
    The Greenwood's State Bank
    Similarity Rank: 312
    Westbury Bank
    Similarity Rank: 330
    GATEWAY MORTGAGE CORPORATION
    Similarity Rank: 410

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 119 $28,645,000 $240,714 $1,806 6.53%

    For 2023, Citizens Bank's most frequently originated type of loan was Conventional, with 119 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 70 $23,230,000 $331,857 $2,800 6.57%
    Refi 19 $2,355,000 $123,947 $605 6.30%
    Other 16 $990,000 $61,875 $692 6.84%
    Home Improvement 12 $1,690,000 $140,833 $535 6.31%
    Cash Out Refi 2 $380,000 $190,000 $2,045 6.19%

    For 2023, Citizens Bank's most frequently cited loan purpose was Home Purchase, with 70 originations. The 2nd most popular reason was Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 55 $17,125,000 $311,364 $2,761 6.30%
    20 Year 19 $1,625,000 $85,526 $396 6.56%
    5 Year 13 $2,505,000 $192,692 $323 6.94%
    15 Year 8 $1,100,000 $137,500 $1,923 6.12%
    Other 7 $2,065,000 $295,000 $326 6.51%
    3 Year 7 $2,125,000 $303,571 $244 7.34%
    1 Year 6 $1,910,000 $318,333 $2,167 7.09%
    10 Year 4 $190,000 $47,500 $246 6.75%

    For 2023, Citizens Bank's most frequently cited loan duration was 30 Year, with 55 originations. The 2nd most popular length was 20 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 86 $18,170,000 $211,279
    $1k-2k 9 $2,255,000 $250,556
    $2k-3k 2 $300,000 $150,000
    $5k+ 1 $255,000 $255,000

    Citizens Bank's average total fees were $2,761, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 86 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 50 $10,430,000 $208,600
    5-6% 41 $11,005,000 $268,415
    7-8% 25 $5,975,000 $239,000
    Over 8% 2 $100,000 $50,000
    3-4% 1 $1,135,000 $1,135,000

    During 2023, Citizens Bank's average interest rate for loans was 6.30%, while their most frequently originated rate bucket for loans was 6-7%, with 50 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 38 $1,870,000 $49,211 $585 6.62%
    $200k-400k 37 $10,395,000 $280,946 $2,906 6.61%
    $100k-200k 24 $3,630,000 $151,250 $1,649 6.53%
    $400k-600k 10 $4,540,000 $454,000 $2,620 6.30%
    $600k-1MM 9 $7,075,000 $786,111 $3,481 6.43%
    $1MM+ 1 $1,135,000 $1,135,000 $0 3.35%

    2023 saw Citizens Bank place emphasis on $100,000 or less loans with 38 originations, totaling $1,870,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 31 $6,275,000 $202,419 $1,907 6.59%
    $150k-250k 21 $5,265,000 $250,714 $1,869 6.30%
    $75k-100k 18 $2,970,000 $165,000 $1,905 6.63%
    $50k-75k 13 $1,565,000 $120,385 $1,398 6.40%
    $250k+ 12 $5,080,000 $423,333 $2,894 6.77%
    $50k or less 5 $705,000 $141,000 $1,998 6.50%

    Citizens Bank lent most frequently to those with incomes in the $100k-150k range, with 31 originations. The second most popular income band? $150k-250k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 25 $5,015,000 $200,600 $1,844 6.47%
    30-36% 22 $5,270,000 $239,545 $1,781 6.55%
    <20% 9 $745,000 $82,778 $979 6.09%
    41% 8 $1,020,000 $127,500 $1,191 6.42%
    42% 5 $465,000 $93,000 $701 6.47%
    39% 5 $1,625,000 $325,000 $3,731 5.88%
    50-60% 5 $1,435,000 $287,000 $2,391 6.71%
    48% 4 $1,330,000 $332,500 $2,144 6.19%
    38% 4 $320,000 $80,000 $1,712 6.09%
    40% 3 $915,000 $305,000 $2,395 6.96%
    36% 3 $385,000 $128,333 $1,044 6.87%
    49% 3 $1,395,000 $465,000 $2,463 7.13%
    46% 2 $130,000 $65,000 $285 7.56%
    37% 2 $490,000 $245,000 $1,588 5.81%
    44% 2 $1,310,000 $655,000 $4,163 6.50%
    45% 2 $520,000 $260,000 $2,091 6.91%
    47% 2 $330,000 $165,000 $3,093 6.56%
    >60% 1 $25,000 $25,000 $0 7.10%

    Citizens Bank lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? 30-36%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 105 $21,885,000 $208,429 $1,785 6.48%
    Not applicable 11 $5,705,000 $518,636 $0 6.93%
    Not provided 3 $1,055,000 $351,667 $2,471 6.83%

    Approval Rates

    Total approvals of all applications
    91.16%

    Citizens Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.19%

    Citizens Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 119 $28,645,000 $240,714

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    119 $28,645,000 $240,714

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $2,160,000 $135,000 $1,175 6.66%
    40-60% 11 $2,345,000 $213,182 $2,099 6.05%
    60-80% 37 $14,015,000 $378,784 $2,680 6.65%
    80-100% 22 $7,380,000 $335,455 $3,190 6.50%
    Under 20% 33 $2,745,000 $83,182 $467 6.51%