Citizens First Bank Mortgage Rates, Fees & Info

The Villages, FL

LEI: 549300IQVXIW1VTW0D69

Tax ID: 59-3018034

5 stars - Updated: 9/18/23 - out of 5 stars, based on 57 reviews

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

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Mortgage Data

Review & Overview

Citizens First Bank is a smaller bank specializing in Home Purchase loans. Citizens First Bank has a high proportion of conventional loans. Their top markets by origination volume include: The Villages, Orlando, Ocala, Punta Gorda, and Deltona among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Citizens First 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 First 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
Home Equity Line of Credit (HELOC) 6.12% 9/18/23
30 Year Conventional Purchase 6.68% 9/18/23
30 Year Cash-out Refi 6.75% 9/18/23
15 Year Conventional Purchase 6.07% 9/18/23
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 First Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Citizens First 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

3,265

Origination Dollar Volume (All Markets)

$862,075,000

Awards

Citizens First Bank 30 Year Conventional Loans silver Citizens First Bank 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Citizens First Bank's average 30 year fixed mortgage rate was 5.05%.

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

This yields a difference of 0.29%.

Relative Fees (Closing Costs)

Citizens First Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,374.

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
THE VILLAGES, FL (FHA|USDA|VA) 2,895 $782,325,000 $270,233 $4,177 5.02%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 219 $44,945,000 $205,228 $3,854 5.02%
OCALA, FL (FHA|USDA|VA) 148 $33,390,000 $225,608 $4,610 4.94%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $1,045,000 $1,045,000 $8,550 5.65%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $265,000 $265,000 $0 4.50%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.00%
Citizens First Bank's top markets include The Villages, Orlando, Ocala, Punta Gorda, and Deltona among others.

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

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,738 $810,820,000 $296,136 $4,178 4.99%
    HELOC 527 $51,255,000 $97,258 n/a 5.19%

    For 2022, Citizens First Bank's most frequently originated type of loan was Conventional, with 2,738 originations. Their 2nd most popular type was HELOC, with 527 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,626 $785,920,000 $299,284 $4,208 5.02%
    Other 336 $31,900,000 $94,940 $0 5.24%
    Cash Out Refi 139 $29,265,000 $210,540 $3,611 4.46%
    Home Improvement 135 $11,945,000 $88,481 $0 5.05%
    Refi 29 $3,045,000 $105,000 $0 5.16%

    For 2022, Citizens First Bank's most frequently cited loan purpose was Home Purchase, with 2,626 originations. The 2nd most popular reason was Other, with 336 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,063 $593,605,000 $287,739 $4,374 5.05%
    10 Year 536 $52,380,000 $97,724 $3,958 5.17%
    1 Year 403 $148,235,000 $367,829 $3,156 5.38%
    15 Year 235 $60,665,000 $258,149 $4,147 3.85%
    20 Year 23 $4,955,000 $215,435 $3,799 4.73%
    Other 4 $1,920,000 $480,000 $0 5.08%
    5 Year 1 $315,000 $315,000 $0 3.97%

    For 2022, Citizens First Bank's most frequently cited loan duration was 30 Year, with 2,063 originations. The 2nd most popular length was 10 Year, with 536 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,993 $557,085,000 $279,521
    $<1k 471 $166,375,000 $353,238
    $2k-3k 90 $31,270,000 $347,444
    $3k-4k 62 $16,510,000 $266,290
    $5k+ 58 $20,660,000 $356,207
    $4k-5k 44 $12,460,000 $283,182

    Citizens First Bank's average total fees were $4,374, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,993 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 977 $270,125,000 $276,484
    3-4% 801 $203,545,000 $254,114
    4-5% 723 $195,565,000 $270,491
    6-7% 489 $126,085,000 $257,843
    7-8% 175 $41,235,000 $235,629
    2.5-3% 72 $19,620,000 $272,500
    Over 8% 16 $2,730,000 $170,625
    <2.5% 12 $3,170,000 $264,167

    During 2022, Citizens First Bank's average interest rate for loans was 5.05%, while their most frequently originated rate bucket for loans was 5-6%, with 977 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,594 $454,670,000 $285,238 $4,241 5.00%
    $100k-200k 740 $104,740,000 $141,541 $3,651 5.07%
    $400k-600k 448 $209,500,000 $467,634 $4,607 4.94%
    $100,000 or less 390 $23,060,000 $59,128 $3,169 5.10%
    $600k-1MM 80 $52,980,000 $662,250 $4,855 4.99%
    $1MM+ 13 $17,125,000 $1,317,308 $8,793 4.89%

    2022 saw Citizens First Bank place emphasis on $200k-400k loans with 1,594 originations, totaling $454,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 951 $271,225,000 $285,200 $4,258 5.05%
    $150k-250k 711 $233,015,000 $327,729 $4,576 5.08%
    $75k-100k 607 $137,295,000 $226,186 $3,929 5.07%
    $50k-75k 513 $92,215,000 $179,756 $3,595 4.88%
    $250k+ 238 $93,570,000 $393,151 $5,108 5.01%
    $50k or less 205 $23,485,000 $114,561 $3,446 4.99%

    Citizens First Bank lent most frequently to those with incomes in the $100k-150k range, with 951 originations. The second most popular income band? $150k-250k, with 711 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 534 $127,940,000 $239,588 $4,152 5.02%
    20-30% 531 $113,845,000 $214,397 $4,218 4.95%
    <20% 282 $52,580,000 $186,454 $4,463 4.84%
    48% 160 $48,490,000 $303,063 $4,253 5.09%
    47% 153 $45,505,000 $297,418 $4,191 5.03%
    46% 147 $42,815,000 $291,259 $4,148 4.93%
    43% 139 $43,295,000 $311,475 $4,115 4.98%
    49% 135 $41,415,000 $306,778 $4,172 5.04%
    45% 132 $39,770,000 $301,288 $4,229 5.05%
    42% 131 $37,675,000 $287,595 $4,085 4.80%
    44% 128 $39,540,000 $308,906 $4,161 5.06%
    41% 119 $37,025,000 $311,134 $4,315 5.04%
    38% 116 $30,330,000 $261,466 $4,193 5.17%
    39% 113 $32,455,000 $287,212 $4,360 5.35%
    40% 109 $30,345,000 $278,394 $4,303 5.17%
    36% 107 $28,325,000 $264,720 $4,260 5.20%
    37% 100 $26,710,000 $267,100 $4,312 4.92%
    50-60% 89 $31,555,000 $354,551 $3,267 5.34%
    >60% 18 $5,920,000 $328,889 $2,788 5.61%

    Citizens First Bank lent most frequently to those with DTI ratios of 30-36%, with 534 originations. The next most common DTI ratio? 20-30%, with 531 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,007 $785,765,000 $261,312 $4,141 5.03%
    Not provided 175 $53,315,000 $304,657 $4,592 4.87%
    Asian 28 $7,370,000 $263,214 $4,343 4.89%
    Black 25 $6,315,000 $252,600 $5,129 5.31%
    Not applicable 17 $5,965,000 $350,882 $0 4.70%
    American Indian 10 $2,280,000 $228,000 $3,828 4.37%
    Native Hawaiian or Islander 3 $1,065,000 $355,000 $4,413 4.43%

    Approval Rates

    Total approvals of all applications
    95.62%

    Citizens First Bank 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
    81.16%

    Citizens First Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,265 $862,075,000 $264,035

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,265 $862,075,000 $264,035

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 486 $66,090,000 $135,988 $3,519 4.97%
    40-60% 461 $109,425,000 $237,364 $3,868 4.97%
    60-80% 961 $304,085,000 $316,426 $4,454 5.09%
    80-100% 1,000 $358,850,000 $358,850 $4,319 4.93%
    Under 20% 357 $23,625,000 $66,176 $2,933 5.22%

    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%