Citizens Bank Mortgage Rates, Fees & Info
Columbia, MSLEI: 549300V7I9AZRM78QT92
Tax ID: 64-0750822
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Mortgage Data
Review & Overview
Citizens Bank is a smaller bank specializing in Refi and Home Purchase loans. Citizens Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Hattiesburg, Laurel, Mccomb, Gulfport, and Picayune among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)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. They typically have relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.80% | 11/17/24 |
| 30 Year Conventional Refi | 6.81% | 11/17/24 |
| 30 Year FHA Purchase | 7.09% | 11/17/24 |
| 30 Year FHA Refi | 7.35% | 11/17/24 |
| 30 Year VA Refi | 6.27% | 11/17/24 |
| 30 Year USDA Purchase | 6.52% | 11/17/24 |
| 15 Year Conventional Purchase | 6.00% | 11/17/24 |
| 15 Year Conventional Refi | 5.94% | 11/17/24 |
| 15 Year Cash-out Refi | 5.94% | 11/17/24 |
| 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 Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
312Origination Dollar Volume (All Markets)
$31,170,000Relative Rate
Citizens Bank's average 30 year fixed mortgage rate was
6.55%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.07%.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 189 | $13,995,000 | $74,048 | $0 | 8.61% |
| HATTIESBURG, MS (FHA|USDA|VA) | 73 | $9,935,000 | $136,096 | $0 | 8.39% |
| Laurel, MS (FHA|USDA|VA) | 26 | $2,850,000 | $109,615 | $0 | 8.34% |
| McComb, MS (FHA|USDA|VA) | 9 | $1,405,000 | $156,111 | $0 | 8.47% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 6 | $1,190,000 | $198,333 | $0 | 8.21% |
| Picayune, MS (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $0 | 7.13% |
| Oxford, MS (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $0 | 7.38% |
| Bogalusa, LA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 6.38% |
| JACKSON, MS (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 6.75% |
| Vicksburg, MS (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 7.75% |
| Greenville, MS (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.75% |
| Brookhaven, MS (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 8.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 309 | $30,555,000 | $98,883 | $0 | 8.51% |
| FHA | 2 | $530,000 | $265,000 | $0 | 6.50% |
| USDA | 1 | $85,000 | $85,000 | $0 | 7.00% |
For 2023, Citizens Bank's most frequently originated type of loan was Conventional, with 309 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2023, Citizens Bank's most frequently cited loan purpose was Refi, with 175 originations. The 2nd most popular reason was Home Purchase, with 100 originations.
Loan Duration/Length
For 2023, Citizens Bank's most frequently cited loan duration was Other, with 154 originations. The 2nd most popular length was 5 Year, with 90 originations.
Origination Fees/Closing Costs
Citizens Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 164 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 172 | $11,610,000 | $67,500 |
| 7-8% | 96 | $11,450,000 | $119,271 |
| 6-7% | 33 | $6,115,000 | $185,303 |
| 5-6% | 11 | $1,995,000 | $181,364 |
During 2023, Citizens Bank's average interest rate for loans was 6.55%, while their most frequently originated rate bucket for loans was Over 8%, with 172 originations.
Loan Sizing
2023 saw Citizens Bank place emphasis on $100,000 or less loans with 212 originations, totaling $8,890,000 in origination value.
Applicant Income
Citizens Bank lent most frequently to those with incomes in the $50k or less range, with 81 originations. The second most popular income band? $50k-75k, with 63 originations.
Applicant Debt to Income Ratio
Citizens Bank lent most frequently to those with DTI ratios of 20-30%, with 55 originations. The next most common DTI ratio? <20%, with 43 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.87%
Citizens Bank has an average approval rate.
Pick Rate
Approvals leading to origination91.67%
Citizens Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 312 | $31,170,000 | $99,904 |