The Citizens Bank Mortgage Rates, Fees & Info

Enterprise, AL

LEI: 549300V4UDO1FVIAXD70

Tax ID: 63-0245356

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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: Daphne, Enterprise, Crestview, Lagrange, and Ozark among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Citizens Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. The 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 relatively high rates.

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Originations

57

Origination Dollar Volume (All Markets)

$11,305,000

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
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 11 $4,685,000 $425,909 $7,242 5.21%
Outside of Metro Areas 16 $2,630,000 $164,375 $2,641 5.23%
Enterprise, AL (FHA|USDA|VA) 15 $1,595,000 $106,333 $2,878 5.19%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $670,000 $335,000 $0 4.94%
LaGrange, GA-AL (FHA|USDA|VA) 1 $475,000 $475,000 $0 5.25%
Ozark, AL (FHA|USDA|VA) 3 $395,000 $131,667 $2,936 5.08%
DOTHAN, AL (FHA|USDA|VA) 4 $340,000 $85,000 $3,286 5.68%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $125,000 $125,000 $2,159 4.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.75%
Troy, AL (FHA|USDA|VA) 1 $115,000 $115,000 $0 5.25%
PANAMA CITY, FL (FHA|USDA|VA) 1 $95,000 $95,000 $0 6.00%
Eufaula, AL-GA (FHA|USDA|VA) 1 $55,000 $55,000 $2,090 6.00%
The Citizens Bank's top markets include Daphne, Enterprise, Crestview, Lagrange, and Ozark among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 57 $11,305,000 $198,333 $3,739 5.25%

    For 2018, The Citizens Bank's most frequently originated type of loan was Conventional, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 34 $6,610,000 $194,412 $4,149 5.14%
    Refi 10 $2,450,000 $245,000 $4,355 5.68%
    Cash Out Refi 8 $1,150,000 $143,750 $2,548 4.95%
    Other 4 $1,060,000 $265,000 $665 5.59%
    Home Improvement 1 $35,000 $35,000 $0 5.50%

    For 2018, The Citizens Bank's most frequently cited loan purpose was Home Purchase, with 34 originations. The 2nd most popular reason was Refi, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 45 $8,385,000 $186,333 $3,675 5.19%
    Other 8 $2,300,000 $287,500 $5,046 5.60%
    1 Year 2 $320,000 $160,000 $0 4.81%
    30 Year 1 $125,000 $125,000 $2,650 5.50%
    3 Year 1 $175,000 $175,000 $0 5.75%

    For 2018, The Citizens Bank's most frequently cited loan duration was 5 Year, with 45 originations. The 2nd most popular length was Other, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 9 $1,105,000 $122,778
    $<1k 6 $430,000 $71,667
    $2k-3k 4 $910,000 $227,500
    $3k-4k 3 $935,000 $311,667
    $5k+ 3 $2,245,000 $748,333

    The Citizens Bank's average total fees were $2,650, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 9 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 31 $5,415,000 $174,677
    4-5% 22 $5,620,000 $255,455
    6-7% 3 $225,000 $75,000
    3-4% 1 $45,000 $45,000

    During 2018, The Citizens Bank's average interest rate for loans was 5.50%, while their most frequently originated rate bucket for loans was 5-6%, with 31 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 22 $1,210,000 $55,000 $1,534 5.40%
    $100k-200k 19 $2,735,000 $143,947 $2,792 5.24%
    $200k-400k 9 $2,605,000 $289,444 $5,078 5.00%
    $400k-600k 3 $1,505,000 $501,667 $7,749 5.25%
    $600k-1MM 3 $2,145,000 $715,000 $8,695 5.07%
    $1MM+ 1 $1,105,000 $1,105,000 $12,595 4.75%

    2018 saw The Citizens Bank place emphasis on $100,000 or less loans with 22 originations, totaling $1,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 16 $1,450,000 $90,625 $2,447 5.08%
    $100k-150k 7 $1,325,000 $189,286 $4,091 5.21%
    $150k-250k 6 $1,660,000 $276,667 $5,769 5.16%
    $50k-75k 4 $700,000 $175,000 $5,719 4.84%
    $75k-100k 3 $385,000 $128,333 $3,946 5.50%
    $250k+ 2 $1,230,000 $615,000 $7,638 4.93%

    The Citizens Bank lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $100k-150k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 8 $1,900,000 $237,500 $5,999 5.24%
    <20% 7 $635,000 $90,714 $2,909 5.19%
    30-36% 6 $820,000 $136,667 $3,098 4.98%
    >60% 3 $405,000 $135,000 $2,594 5.14%
    39% 3 $995,000 $331,667 $5,654 4.44%
    43% 3 $355,000 $118,333 $1,595 5.25%
    45% 3 $735,000 $245,000 $3,988 5.12%
    41% 2 $300,000 $150,000 $3,946 4.88%
    42% 1 $75,000 $75,000 $2,405 5.18%
    46% 1 $85,000 $85,000 $0 6.00%
    44% 1 $285,000 $285,000 $4,746 5.00%
    37% 1 $125,000 $125,000 $2,680 5.11%
    38% 1 $35,000 $35,000 $0 6.00%
    36% 1 $265,000 $265,000 $5,712 5.09%

    The Citizens Bank lent most frequently to those with DTI ratios of 20-30%, with 8 originations. The next most common DTI ratio? <20%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 42 $6,910,000 $164,524 $3,653 5.15%
    Not applicable 14 $4,090,000 $292,143 $0 5.57%
    Asian 1 $305,000 $305,000 $5,971 4.80%

    Approval Rates

    Total approvals of all applications
    96.67%

    The Citizens 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
    98.25%

    The Citizens Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 57 $11,305,000 $198,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $1,105,000 $368,333
    Single Family (1-4 Units):Manufactured 5 $275,000 $55,000
    Single Family (1-4 Units):Site-Built 49 $9,925,000 $202,551

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $45,000 $15,000 $0 6.42%
    40-60% 7 $1,135,000 $162,143 $2,579 5.25%
    60-80% 15 $3,665,000 $244,333 $3,692 5.11%
    80-100% 30 $5,660,000 $188,667 $4,049 5.16%
    Over 100% 1 $165,000 $165,000 $0 6.00%