Citizens Bank Mortgage Rates, Fees & Info

Mukwonago, WI

LEI: 5493002FSR6V2NM1K863

Tax ID: 39-0210030

5 stars - out of 5 stars, based on 12 reviews

Latest/2022 | 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
  • Complaints
  • 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 and Refi loans. Citizens Bank has a high proportion of conventional loans. Their top markets by origination volume include: Milwaukee, Racine, Whitewater, Beaver Dam, and Watertown among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Citizens Bank has an 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 about average 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% 5/27/23
    30 Year Conventional Refi 6.38% 5/27/23
    30 Year Cash-out Refi 6.38% 5/27/23
    15 Year Conventional Purchase 6.32% 5/27/23
    15 Year Conventional Refi 5.97% 5/27/23
    15 Year Cash-out Refi 5.97% 5/27/23
    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

    134

    Origination Dollar Volume (All Markets)

    $73,870,000

    Awards

    Citizens Bank 30 Year Conventional Loans bronze
    Show all (1) awards

    Relative Rate

    Citizens Bank's average 30 year fixed mortgage rate was 4.57%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.19%.

    Relative Fees (Closing Costs)

    Citizens Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,996.

    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 $4,750.

    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) 85 $62,095,000 $730,529 $2,280 4.43%
    RACINE, WI (FHA|USDA|VA) 19 $4,115,000 $216,579 $1,974 4.22%
    Whitewater, WI (FHA|USDA|VA) 16 $3,180,000 $198,750 $2,314 4.06%
    Beaver Dam, WI (FHA|USDA|VA) 2 $2,650,000 $1,325,000 $0 5.56%
    Outside of Metro Areas 4 $680,000 $170,000 $2,532 3.97%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 5 $565,000 $113,000 $1,684 4.05%
    MADISON, WI (FHA|USDA|VA) 1 $285,000 $285,000 $3,615 5.88%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $175,000 $175,000 $2,441 4.74%
    SHEBOYGAN, WI (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.25%
    Citizens Bank's top markets include Milwaukee, Racine, Whitewater, Beaver Dam, and Watertown 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: 469
    Hometown Bank
    Similarity Rank: 680
    Horicon Bank
    Similarity Rank: 714
    The Greenwood's State Bank
    Similarity Rank: 738
    Farmers & Merchants State Bank
    Similarity Rank: 793
    PyraMax Bank, FSB
    Similarity Rank: 825
    The Park Bank
    Similarity Rank: 858
    Westbury Bank
    Similarity Rank: 954
    Kohler Credit Union
    Similarity Rank: 1056
    The First National Bank and Trust Company
    Similarity Rank: 1302

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 134 $73,870,000 $551,269 $2,253 4.37%

    For 2022, Citizens Bank's most frequently originated type of loan was Conventional, with 134 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 62 $29,240,000 $471,613 $3,457 4.64%
    Refi 27 $32,755,000 $1,213,148 $1,567 3.93%
    Cash Out Refi 27 $4,595,000 $170,185 $1,607 3.94%
    Other 13 $1,335,000 $102,692 $1,147 4.98%
    Home Improvement 5 $5,945,000 $1,189,000 $2,173 4.00%

    For 2022, Citizens Bank's most frequently cited loan purpose was Home Purchase, with 62 originations. The 2nd most popular reason was Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 67 $17,545,000 $261,866 $2,996 4.57%
    5 Year 23 $44,285,000 $1,925,435 $0 4.21%
    15 Year 15 $2,925,000 $195,000 $1,157 3.50%
    10 Year 11 $815,000 $74,091 $828 3.96%
    20 Year 8 $1,150,000 $143,750 $1,495 4.62%
    Other 4 $6,190,000 $1,547,500 $1,313 4.28%
    3 Year 3 $335,000 $111,667 $244 6.04%
    1 Year 3 $625,000 $208,333 $0 4.55%

    For 2022, Citizens Bank's most frequently cited loan duration was 30 Year, with 67 originations. The 2nd most popular length was 5 Year, with 23 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 64 $12,540,000 $195,938
    $1k-2k 26 $5,880,000 $226,154
    $2k-3k 5 $2,005,000 $401,000
    $3k-4k 3 $705,000 $235,000
    $5k+ 2 $1,060,000 $530,000

    Citizens Bank's average total fees were $2,996, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 64 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 56 $54,310,000 $969,821
    4-5% 32 $7,560,000 $236,250
    5-6% 28 $7,570,000 $270,357
    2.5-3% 8 $1,170,000 $146,250
    6-7% 7 $2,755,000 $393,571
    7-8% 2 $360,000 $180,000
    <2.5% 1 $145,000 $145,000

    During 2022, Citizens Bank's average interest rate for loans was 4.57%, while their most frequently originated rate bucket for loans was 3-4%, with 56 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 41 $10,875,000 $265,244 $2,795 4.55%
    $100k-200k 37 $5,555,000 $150,135 $1,852 4.38%
    $100,000 or less 27 $1,735,000 $64,259 $842 4.41%
    $1MM+ 13 $46,895,000 $3,607,308 $0 3.95%
    $400k-600k 11 $5,055,000 $459,545 $5,072 4.09%
    $600k-1MM 5 $3,755,000 $751,000 $3,097 4.25%

    2022 saw Citizens Bank place emphasis on $200k-400k loans with 41 originations, totaling $10,875,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 28 $7,640,000 $272,857 $3,035 4.29%
    $50k-75k 20 $2,750,000 $137,500 $1,766 4.89%
    $75k-100k 20 $3,030,000 $151,500 $1,814 4.06%
    $50k or less 16 $1,940,000 $121,250 $1,825 4.52%
    $150k-250k 14 $3,160,000 $225,714 $2,404 4.31%
    $250k+ 11 $4,995,000 $454,091 $2,355 4.19%

    Citizens Bank lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $50k-75k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 29 $7,015,000 $241,897 $1,956 4.36%
    30-36% 17 $3,755,000 $220,882 $3,094 4.38%
    <20% 15 $2,305,000 $153,667 $1,382 3.60%
    39% 6 $1,310,000 $218,333 $2,017 4.29%
    48% 6 $1,560,000 $260,000 $2,925 4.25%
    41% 6 $2,070,000 $345,000 $4,039 5.18%
    44% 5 $985,000 $197,000 $2,171 4.32%
    40% 4 $890,000 $222,500 $2,780 5.25%
    49% 4 $330,000 $82,500 $1,693 4.87%
    36% 4 $720,000 $180,000 $1,931 3.75%
    >60% 3 $515,000 $171,667 $0 5.08%
    38% 2 $540,000 $270,000 $2,920 4.25%
    50-60% 2 $240,000 $120,000 $1,445 5.12%
    37% 2 $340,000 $170,000 $1,746 5.19%
    45% 2 $590,000 $295,000 $2,851 4.81%
    42% 1 $265,000 $265,000 $5,180 3.88%
    46% 1 $285,000 $285,000 $3,135 5.38%
    43% 1 $125,000 $125,000 $0 5.25%

    Citizens Bank lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? 30-36%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 24 $50,030,000 $2,084,583 $0 4.27%
    White 103 $22,575,000 $219,175 $2,235 4.37%
    Not provided 5 $895,000 $179,000 $2,360 4.33%
    Asian 1 $225,000 $225,000 $2,425 4.74%
    American Indian 1 $145,000 $145,000 $3,260 5.88%

    Approval Rates

    Total approvals of all applications
    87.38%

    Citizens Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    64.18%

    Citizens Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 134 $73,870,000 $551,269

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    134 $73,870,000 $551,269

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $4,035,000 $161,400 $1,486 4.35%
    40-60% 26 $27,570,000 $1,060,385 $1,556 4.28%
    60-80% 41 $24,655,000 $601,341 $3,557 4.23%
    80-100% 25 $16,465,000 $658,600 $3,203 4.74%
    Under 20% 17 $1,145,000 $67,353 $696 4.31%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 1 10.0%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 3 30.0%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 4 40.0%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 1 10.0%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 1 10.0%