Citizens Bank Mortgage Rates, Fees & Info

Mooresville, IN

LEI: 549300CABYW2DE2UTD57

Tax ID: 35-0227210

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

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: Indianapolis, Muncie, Bloomington, Terre Haute, and Louisville 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 average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

285

Origination Dollar Volume (All Markets)

$89,185,000

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
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	268	$84,130,000	$313,918	$0	0.00%
MUNCIE, IN (FHA\|USDA\|VA)	2	$2,900,000	$1,450,000	$0	0.00%
BLOOMINGTON, IN (FHA\|USDA\|VA)	5	$555,000	$111,000	$0	0.00%
Outside of Metro Areas	2	$420,000	$210,000	$0	0.00%
TERRE HAUTE, IN (FHA\|USDA\|VA)	3	$385,000	$128,333	$0	0.00%
LOUISVILLE, KY (FHA\|USDA\|VA)	2	$330,000	$165,000	$0	0.00%
LAFAYETTE-WEST LAFAYETTE, IN (FHA\|USDA\|VA)	2	$270,000	$135,000	$0	0.00%
Jasper, IN (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	0.00%

Citizens Bank's top markets include Indianapolis, Muncie, Bloomington, Terre Haute, and Louisville among others.

Their top states include:

Indiana (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	285	$89,185,000	$312,930	$0	0.00%

For 2022, Citizens Bank's most frequently originated type of loan was Conventional, with 285 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	148	$65,960,000	$445,676	$0	0.00%
Cash Out Refi	74	$8,650,000	$116,892	$0	0.00%
Refi	41	$13,025,000	$317,683	$0	0.00%
Other	15	$1,075,000	$71,667	$0	0.00%
Home Improvement	7	$475,000	$67,857	$0	0.00%

For 2022, Citizens Bank's most frequently cited loan purpose was Home Purchase, with 148 originations. The 2nd most popular reason was Cash Out Refi, with 74 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	285	$89,185,000	$312,930	$0	0.00%

For 2022, Citizens Bank's most frequently cited loan duration was Other, with 285 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	83	$12,385,000	$149,217	$0	0.00%
$100,000 or less	80	$4,490,000	$56,125	$0	0.00%
$200k-400k	70	$19,710,000	$281,571	$0	0.00%
$600k-1MM	24	$17,840,000	$743,333	$0	0.00%
$400k-600k	18	$8,980,000	$498,889	$0	0.00%
$1MM+	10	$25,780,000	$2,578,000	$0	0.00%

2022 saw Citizens Bank place emphasis on $100k-200k loans with 83 originations, totaling $12,385,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	54	$13,070,000	$242,037	$0	0.00%
$50k-75k	49	$6,165,000	$125,816	$0	0.00%
$50k or less	47	$5,595,000	$119,043	$0	0.00%
$150k-250k	45	$20,525,000	$456,111	$0	0.00%
$75k-100k	37	$6,235,000	$168,514	$0	0.00%
$250k+	31	$13,535,000	$436,613	$0	0.00%

Citizens Bank lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $50k-75k, with 49 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	285	$89,185,000	$312,930	$0	0.00%

Citizens Bank lent most frequently to those with DTI ratios of Exempt%, with 285 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	246	$61,070,000	$248,252	$0	0.00%
Not applicable	22	$24,060,000	$1,093,636	$0	0.00%
Asian	3	$2,005,000	$668,333	$0	0.00%
Not provided	10	$1,320,000	$132,000	$0	0.00%
Black	3	$635,000	$211,667	$0	0.00%
American Indian	1	$95,000	$95,000	$0	0.00%

Approval Rates

Total approvals of all applications
86.28%

Citizens Bank has an average approval rate.

Pick Rate

Approvals leading to origination
76.84%

Citizens Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	285	$89,185,000	$312,930

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	285	$89,185,000	$312,930

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%