Citizens First Bank Mortgage Rates, Fees & Info

The Villages, FL

LEI: 549300IQVXIW1VTW0D69

Tax ID: 59-3018034

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Citizens First Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Citizens First Bank has a high proportion of conventional loans. Their top markets by origination volume include: The Villages, Orlando, Ocala, Tampa, and Homosassa Springs among others. We have data for 8 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.12% 4/21/24
    30 Year Conventional Purchase 6.68% 4/21/24
    30 Year Cash-out Refi 6.75% 4/21/24
    15 Year Conventional Purchase 6.07% 4/21/24
    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 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

    3,850

    Origination Dollar Volume (All Markets)

    $913,120,000

    Employee count

    368

    Awards

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

    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) 3,261 $789,855,000 $242,213 $3,473 3.31%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 352 $74,040,000 $210,341 $3,225 3.39%
    OCALA, FL (FHA|USDA|VA) 223 $45,115,000 $202,309 $3,499 3.30%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $1,725,000 $345,000 $4,566 3.44%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 4 $1,240,000 $310,000 $3,810 3.08%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $645,000 $215,000 $3,823 3.23%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $275,000 $275,000 $4,695 3.48%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $2,711 3.18%
    Citizens First Bank's top markets include The Villages, Orlando, Ocala, Tampa, and Homosassa Springs 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.

    THE MONEY HOUSE INC.
    Similarity Rank: 946
    Credence Funding Corporation
    Similarity Rank: 1080
    AMERICAN HERITAGE CAPITAL, L.P.
    Similarity Rank: 1134
    VYSTAR
    Similarity Rank: 1150
    PREFERRED LENDING SERVICES, LLC
    Similarity Rank: 1280
    Citizens First Bank
    Similarity Rank: 2368
    JET HOMELOANS, LLC
    Similarity Rank: 2480
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 2574
    BANKERS MORTGAGE LENDING, INC.
    Similarity Rank: 2576
    DEVELOPER'S MORTGAGE COMPANY
    Similarity Rank: 2580

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,850 $913,120,000 $237,174 $3,454 3.32%

    For 2020, Citizens First Bank's most frequently originated type of loan was Conventional, with 3,850 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,665 $663,675,000 $249,034 $3,518 3.37%
    Cash Out Refi 1,179 $247,325,000 $209,775 $3,303 3.21%
    Refi 6 $2,120,000 $353,333 $4,635 3.33%

    For 2020, Citizens First Bank's most frequently cited loan purpose was Home Purchase, with 2,665 originations. The 2nd most popular reason was Cash Out Refi, with 1,179 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,053 $701,395,000 $229,740 $3,542 3.26%
    15 Year 416 $90,710,000 $218,053 $3,459 2.85%
    1 Year 284 $76,300,000 $268,662 $2,505 4.70%
    20 Year 61 $12,115,000 $198,607 $3,361 3.37%
    10 Year 34 $5,050,000 $148,529 $3,269 2.88%
    30+ year 1 $565,000 $565,000 $10,583 3.40%
    Other 1 $26,985,000 $26,985,000 $0 4.20%

    For 2020, Citizens First Bank's most frequently cited loan duration was 30 Year, with 3,053 originations. The 2nd most popular length was 15 Year, with 416 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 3,308 $745,500,000 $225,363
    $<1k 405 $104,725,000 $258,580
    $2k-3k 76 $17,020,000 $223,947
    $3k-4k 28 $7,100,000 $253,571
    $4k-5k 17 $6,065,000 $356,765
    $5k+ 6 $2,500,000 $416,667

    Citizens First Bank's average total fees were $3,542, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3,308 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,161 $495,015,000 $229,068
    2.5-3% 1,215 $275,375,000 $226,646
    4-5% 321 $107,065,000 $333,536
    5-6% 91 $23,175,000 $254,670
    <2.5% 62 $12,490,000 $201,452

    During 2020, Citizens First Bank's average interest rate for loans was 3.26%, while their most frequently originated rate bucket for loans was 3-4%, with 2,161 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,858 $506,020,000 $272,347 $3,628 3.35%
    $100k-200k 1,470 $228,730,000 $155,599 $3,183 3.27%
    $400k-600k 258 $119,810,000 $464,380 $4,156 3.38%
    $100,000 or less 248 $18,520,000 $74,677 $2,822 3.28%
    $600k-1MM 12 $9,340,000 $778,333 $6,699 3.54%
    $1MM+ 4 $30,700,000 $7,675,000 $8,825 3.58%

    2020 saw Citizens First Bank place emphasis on $200k-400k loans with 1,858 originations, totaling $506,020,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 982 $253,220,000 $257,862 $3,571 3.32%
    $50k-75k 855 $157,985,000 $184,778 $3,238 3.34%
    $75k-100k 810 $179,940,000 $222,148 $3,387 3.35%
    $150k-250k 569 $169,085,000 $297,162 $3,812 3.29%
    $50k or less 421 $56,825,000 $134,976 $3,097 3.26%
    $250k+ 170 $59,490,000 $349,941 $4,037 3.27%

    Citizens First Bank lent most frequently to those with incomes in the $100k-150k range, with 982 originations. The second most popular income band? $50k-75k, with 855 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 767 $164,755,000 $214,804 $3,411 3.20%
    30-36% 677 $153,135,000 $226,196 $3,531 3.30%
    <20% 214 $45,720,000 $213,645 $3,311 3.23%
    47% 194 $46,880,000 $241,649 $3,585 3.27%
    48% 184 $45,540,000 $247,500 $3,516 3.32%
    44% 174 $41,170,000 $236,609 $3,546 3.36%
    42% 167 $39,735,000 $237,934 $3,582 3.33%
    45% 161 $38,965,000 $242,019 $3,460 3.36%
    41% 154 $33,510,000 $217,597 $3,360 3.36%
    49% 154 $35,840,000 $232,727 $3,443 3.22%
    43% 151 $37,385,000 $247,583 $3,543 3.32%
    46% 151 $36,205,000 $239,768 $3,442 3.29%
    40% 138 $32,450,000 $235,145 $3,440 3.37%
    38% 132 $33,080,000 $250,606 $3,471 3.32%
    39% 121 $26,195,000 $216,488 $3,520 3.29%
    36% 116 $27,240,000 $234,828 $3,369 3.42%
    37% 104 $22,930,000 $220,481 $3,581 3.32%
    50-60% 71 $19,425,000 $273,592 $2,534 4.66%
    >60% 10 $2,750,000 $275,000 $2,661 4.57%

    Citizens First Bank lent most frequently to those with DTI ratios of 20-30%, with 767 originations. The next most common DTI ratio? 30-36%, with 677 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,660 $837,840,000 $228,918 $3,440 3.32%
    Not provided 129 $32,545,000 $252,287 $3,688 3.26%
    Not applicable 10 $30,210,000 $3,021,000 $0 4.02%
    Black 23 $5,825,000 $253,261 $4,037 3.32%
    Asian 21 $5,365,000 $255,476 $3,746 3.22%
    American Indian 7 $1,335,000 $190,714 $3,346 3.19%

    Approval Rates

    Total approvals of all applications
    97.91%

    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
    81.82%

    Citizens First Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,850 $913,120,000 $237,174

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $28,355,000 $9,451,667
    Single Family (1-4 Units):Manufactured 86 $9,590,000 $111,512
    Single Family (1-4 Units):Site-Built 3,761 $875,175,000 $232,697

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 386 $49,470,000 $128,161 $3,045 3.22%
    40-60% 862 $171,630,000 $199,107 $3,331 3.16%
    60-80% 1,414 $375,770,000 $265,750 $3,555 3.34%
    80-100% 1,140 $312,560,000 $274,175 $3,594 3.45%
    Under 20% 48 $3,690,000 $76,875 $2,637 3.36%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 35 12.8%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 13 4.7%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Credit monitoring or identity theft protection services 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 5 1.8%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 26 9.5%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 109 39.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 6 2.2%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 7 2.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 8 2.9%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 6 2.2%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 20 7.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 7 2.6%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 4 1.5%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 2 0.7%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 11 4.0%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 4 1.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Citizens First Bank 1050 Lake Sumter Landing The Villages, FL 32162 Full Service B&M $706,552
    Citizens First Bank 1129 Main Street The Villages, FL 32159 Full Service B&M $271,858
    Citizens First Bank 1130 Old Camp Road The Villages, FL 32162 Limited, Drive-thru $0
    Citizens First Bank 1500 Banderos Avenue The Villages, FL 32159 Full Service B&M $156,057
    Citizens First Bank 2420 Burnsed Boulevard The Villages, FL 32163 Full Service B&M $94,665
    Citizens First Bank 2601 West Torch Lake Drive The Villages, FL 32163 Full Service B&M $171,147
    Citizens First Bank 3290 U.S. Hwy 441/27 Fruitland Park, FL 34731 Full Service B&M $46,577
    Citizens First Bank 3430 Southern Trace The Villages, FL 32162 Full Service B&M $232,041
    Citizens First Bank 395 Colony Blvd The Villages, FL 32162 Full Service B&M $280,879
    Citizens First Bank 406 E. Silver Springs Boulevard Ocala, FL 34470 Full Service B&M $23,780
    Citizens First Bank 745 Kristine Way The Villages, FL 32163 Full Service B&M $52,659
    Citizens First Bank 800 West North Boulevard Leesburg, FL 34748 Full Service B&M $98,465
    Citizens First Bank 8590 S.E. 165th Mulberry Lane The Villages, FL 32159 Full Service B&M $157,338

    For 2020, Citizens First Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $72,810
    Net interest income $63,569
    Total noninterest income $43,048
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $450
    Trading account gains and fees $0
    Additional Noninterest Income $42,598
    Pre-tax net operating income $55,484
    Securities gains (or losses, -) $10,555
    Income before extraordinary items $52,890
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $52,890
    Minority interest net income $0
    Net income $52,890
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $44,446

    Citizens First Bank's gross interest income from loans was $72,810,000.
    Citizens First Bank's net interest income from loans was $63,569,000.
    Citizens First Bank's fee based income from loans was $450,000.
    Citizens First Bank's net income from loans was $52,890,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $9,241
    Provision for credit losses $4,600
    Total noninterest expense $46,533
    Salaries and employee benefits $27,741
    Premises and equipment expense $5,496
    Additional noninterest expense $13,296
    Applicable income taxes $13,149
    Net charge-offs $-43
    Cash dividends $1,827

    Citizens First Bank's interest expense for loans was $9,241,000.
    Citizens First Bank's payroll and benefits expense were $27,741,000.
    Citizens First Bank's property, plant and equipment expenses $5,496,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $2,545,272
    Deposits held in domestic offices $2,545,272
    Deposits by Individuals, partnerships, and corporations $2,537,366
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $7,906
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $238,840
    Demand deposits $86,609
    Nontransaction accounts $2,306,432
    Money market deposit accounts (MMDAs) $1,685,574
    Other savings deposits (excluding MMDAs) $327,821
    Total time deposits $293,037
    Total time and savings deposits $2,458,663
    Noninterest-bearing deposits $459,773
    Interest-bearing deposits $2,085,499
    Retail deposits $2,507,639
    IRAs and Keogh plan accounts $29,213
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $3,110,409
    Cash & Balances due from depository institutions $28,130
    Interest-bearing balances $6,443
    Total securities $2,160,507
    Federal funds sold & reverse repurchase $7,304
    Net loans and leases $846,794
    Loan and leases loss allowance $14,583
    Trading account assets $0
    Bank premises and fixed assets $36,663
    Other real estate owned $0
    Goodwill and other intangibles $4,544
    All other assets $26,467

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $3,110,409
    Total Liabilities $2,709,695
    Total deposits $2,545,272
    Interest-bearing deposits $2,085,499
    Deposits held in domestic offices $2,545,272
    % insured (estimated) $76
    Federal funds purchased and repurchase agreements $135,645
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $28,778

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $846,794
    Loan and leases loss allowance $14,583
    Total loans and leases (domestic) $861,377
    All real estate loans $533,658
    Real estate loans in domestic offices $533,658
    Construction and development loans $73,155
    Residential 1-4 family construction $1,435
    Other construction, all land development and other land $71,720
    Loans secured by nonfarm nonresidential properties $185,367
    Nonfarm nonresidential secured by owner-occupied properties $78,755
    Commercial real estate & other non-farm, non-residential $106,612
    Multifamily residential real estate $5,777
    1-4 family residential loans $267,293
    Farmland loans $2,066
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $282,401
    To non-U.S. addressees $0
    Loans to individuals $3,883
    Credit card loans $0
    Related Plans $325
    Consumer Auto Loans $641
    Other loans to individuals $2,917
    All other loans & leases $41,853
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $650
    Non 1-4 family restructured loans & leases $650
    Total loans and leases (foreign) $0

    Citizens First Bank had $846,794,000 of loans outstanding in 2020. $533,658,000 of loans were in real estate loans. $73,155,000 of loans were in development loans. $5,777,000 of loans were in multifamily mortgage loans. $267,293,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $641,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 150 $43,631 $290,873
    Nonfarm, nonresidential loans - <$100k 20 $1,005 $50,250
    Nonfarm, nonresidential loans - $100-250k 39 $4,987 $127,872
    Nonfarm, nonresidential loans - $250k-1MM 91 $37,639 $413,615
    Commercial & Industrial, US addressed loans - <$1MM 1,075 $78,682 $73,193
    Commercial & Industrial, US addressed loans - <$100k 839 $21,120 $25,173
    Commercial & Industrial, US addressed loans - $100-250k 146 $20,309 $139,103
    Commercial & Industrial, US addressed loans - $250k-1MM 90 $37,253 $413,922
    Farmland loans - <$1MM 1 $158 $158,000
    Farmland loans - $100-250k 1 $158 $158,000