The Citizens Bank Mortgage Rates, Fees & Info

Batesville, AR

LEI: 5493004EVKOLRF3JI477

Tax ID: 71-0258539

5 stars - Updated: 7/20/24 - out of 5 stars, based on 11 reviews

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

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Mortgage Data

Review & Overview

The Citizens Bank is a smaller bank specializing in Home Purchase and Refi loans. The Citizens Bank has a high proportion of conventional loans. Their top markets by origination volume include: Little Rock, Fayetteville, Batesville, Hot Springs, and Malvern among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

The 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. The Citizens Bank is typically an average 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.

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Originations

131

Origination Dollar Volume (All Markets)

$36,255,000

Relative Rate

The Citizens Bank's average 30 year fixed mortgage rate was 6%.

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

This yields a difference of -0.48%.

Relative Fees (Closing Costs)

The Citizens Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $8,029.

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
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 20 $14,320,000 $716,000 $4,598 8.19%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 18 $9,880,000 $548,889 $0 8.29%
Batesville, AR (FHA|USDA|VA) 53 $4,645,000 $87,642 $1,407 8.56%
Outside of Metro Areas 23 $4,055,000 $176,304 $2,336 8.73%
HOT SPRINGS, AR (FHA|USDA|VA) 5 $995,000 $199,000 $0 9.10%
Malvern, AR (FHA|USDA|VA) 4 $840,000 $210,000 $2,937 8.35%
Camden, AR (FHA|USDA|VA) 1 $685,000 $685,000 $0 8.99%
Arkadelphia, AR (FHA|USDA|VA) 5 $535,000 $107,000 $0 8.60%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $165,000 $165,000 $1,201 7.63%
Magnolia, AR (FHA|USDA|VA) 1 $135,000 $135,000 $0 8.25%
The Citizens Bank's top markets include Little Rock, Fayetteville, Batesville, Hot Springs, and Malvern among others.

Their top states include:
  • Arkansas (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 131 $36,255,000 $276,756 $1,891 8.51%

    For 2023, The Citizens Bank's most frequently originated type of loan was Conventional, with 131 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 88 $27,340,000 $310,682 $2,707 8.45%
    Refi 23 $7,665,000 $333,261 $1,222 8.81%
    Home Improvement 14 $900,000 $64,286 $1,244 8.22%
    Other 6 $350,000 $58,333 $1,405 8.83%

    For 2023, The Citizens Bank's most frequently cited loan purpose was Home Purchase, with 88 originations. The 2nd most popular reason was Refi, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 56 $11,470,000 $204,821 $1,769 8.61%
    5 Year 56 $11,750,000 $209,821 $0 8.39%
    1 Year 9 $1,715,000 $190,556 $897 8.64%
    3 Year 4 $9,630,000 $2,407,500 $0 8.81%
    10 Year 3 $455,000 $151,667 $0 8.70%
    20 Year 2 $310,000 $155,000 $0 8.63%
    30 Year 1 $925,000 $925,000 $8,029 6.00%

    For 2023, The Citizens Bank's most frequently cited loan duration was Other, with 56 originations. The 2nd most popular length was 5 Year, with 56 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 38 $4,500,000 $118,421
    $1k-2k 4 $910,000 $227,500
    $3k-4k 1 $545,000 $545,000
    $4k-5k 1 $925,000 $925,000

    The Citizens Bank's average total fees were $8,029, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 38 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 94 $24,370,000 $259,255
    7-8% 33 $10,535,000 $319,242
    6-7% 3 $425,000 $141,667
    5-6% 1 $925,000 $925,000

    During 2023, The Citizens Bank's average interest rate for loans was 6.00%, while their most frequently originated rate bucket for loans was Over 8%, with 94 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 66 $3,670,000 $55,606 $1,299 8.61%
    $100k-200k 29 $4,275,000 $147,414 $1,655 8.49%
    $200k-400k 18 $5,100,000 $283,333 $1,970 8.50%
    $400k-600k 8 $3,970,000 $496,250 $7,953 8.21%
    $1MM+ 6 $16,200,000 $2,700,000 $6,735 8.27%
    $600k-1MM 4 $3,040,000 $760,000 $8,029 7.87%

    2023 saw The Citizens Bank place emphasis on $100,000 or less loans with 66 originations, totaling $3,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 20 $760,000 $38,000 $1,315 9.09%
    $100k-150k 17 $2,415,000 $142,059 $1,590 8.51%
    $50k-75k 10 $690,000 $69,000 $1,331 8.74%
    $150k-250k 9 $2,485,000 $276,111 $3,989 8.34%
    $250k+ 8 $3,580,000 $447,500 $5,415 7.99%
    $75k-100k 3 $205,000 $68,333 $1,330 7.86%

    The Citizens Bank lent most frequently to those with incomes in the $50k or less range, with 20 originations. The second most popular income band? $100k-150k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 14 $1,340,000 $95,714 $1,421 8.94%
    <20% 12 $1,900,000 $158,333 $1,781 8.30%
    30-36% 5 $805,000 $161,000 $1,451 9.15%
    50-60% 3 $1,435,000 $478,333 $3,655 7.91%
    37% 3 $415,000 $138,333 $2,318 9.34%
    39% 1 $15,000 $15,000 $897 8.75%
    40% 1 $55,000 $55,000 $1,302 10.03%
    41% 1 $125,000 $125,000 $1,694 9.44%
    42% 1 $35,000 $35,000 $1,333 8.90%
    44% 1 $175,000 $175,000 $2,076 8.53%
    45% 1 $545,000 $545,000 $7,953 8.15%
    36% 1 $35,000 $35,000 $1,526 7.74%

    The Citizens Bank lent most frequently to those with DTI ratios of 20-30%, with 14 originations. The next most common DTI ratio? <20%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 62 $25,940,000 $418,387 $0 8.41%
    White 69 $10,315,000 $149,493 $1,891 8.59%

    Approval Rates

    Total approvals of all applications
    81.08%

    The Citizens Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.50%

    The Citizens Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 131 $36,255,000 $276,756

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    131 $36,255,000 $276,756

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $5,890,000 $420,714 $1,292 9.14%
    40-60% 15 $6,995,000 $466,333 $1,352 8.69%
    60-80% 28 $7,510,000 $268,214 $1,748 8.43%
    80-100% 63 $14,555,000 $231,032 $3,152 8.40%
    Over 100% 3 $905,000 $301,667 $1,629 7.98%
    Under 20% 7 $395,000 $56,429 $1,056 8.29%