Citizens Bank Mortgage Rates, Fees & Info
Columbia, MSLEI: 549300V7I9AZRM78QT92
Tax ID: 64-0750822
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
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 low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Hattiesburg, Laurel, Mccomb, Gulfport, and Bogalusa among others. We have data for 13 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 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.80% | 5/4/24 |
| 30 Year Conventional Refi | 6.81% | 5/4/24 |
| 30 Year FHA Purchase | 7.09% | 5/4/24 |
| 30 Year FHA Refi | 7.35% | 5/4/24 |
| 30 Year VA Refi | 6.27% | 5/4/24 |
| 30 Year USDA Purchase | 6.52% | 5/4/24 |
| 15 Year Conventional Purchase | 6.00% | 5/4/24 |
| 15 Year Conventional Refi | 5.94% | 5/4/24 |
| 15 Year Cash-out Refi | 5.94% | 5/4/24 |
| 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
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Citizens 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
410Origination Dollar Volume (All Markets)
$48,030,000Top 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 | 213 | $20,085,000 | $94,296 | $0 | 6.01% |
| HATTIESBURG, MS (FHA|USDA|VA) | 113 | $18,925,000 | $167,478 | $0 | 5.72% |
| Laurel, MS (FHA|USDA|VA) | 51 | $4,055,000 | $79,510 | $0 | 5.94% |
| McComb, MS (FHA|USDA|VA) | 14 | $1,630,000 | $116,429 | $0 | 6.36% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $0 | 5.38% |
| Bogalusa, LA (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $0 | 6.75% |
| JACKSON, MS (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $0 | 5.93% |
| Picayune, MS (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $0 | 5.44% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 5.38% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 5.50% |
| Meridian, MS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 7.25% |
| Brookhaven, MS (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 6.75% |
| Greenville, MS (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 4.95% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 394 | $45,390,000 | $115,203 | $0 | 5.98% |
| USDA | 11 | $1,585,000 | $144,091 | $0 | 4.80% |
| FHA | 5 | $1,055,000 | $211,000 | $0 | 4.23% |
For 2022, Citizens Bank's most frequently originated type of loan was Conventional, with 394 originations. Their 2nd most popular type was USDA, with 11 originations.
Loan Reason
For 2022, Citizens Bank's most frequently cited loan purpose was Refi, with 228 originations. The 2nd most popular reason was Home Purchase, with 151 originations.
Loan Duration/Length
For 2022, Citizens Bank's most frequently cited loan duration was Other, with 173 originations. The 2nd most popular length was 5 Year, with 127 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 173 originations.
Interest Rates
During 2022, Citizens Bank's average interest rate for loans was 4.73%, while their most frequently originated rate bucket for loans was 5-6%, with 152 originations.
Loan Sizing
2022 saw Citizens Bank place emphasis on $100,000 or less loans with 247 originations, totaling $11,345,000 in origination value.
Applicant Income
Citizens Bank lent most frequently to those with incomes in the $50k or less range, with 101 originations. The second most popular income band? $50k-75k, with 71 originations.
Applicant Debt to Income Ratio
Citizens Bank lent most frequently to those with DTI ratios of 20-30%, with 74 originations. The next most common DTI ratio? 30-36%, with 58 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.28%
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 origination91.71%
Citizens Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 410 | $48,030,000 | $117,146 |
LTV Distribution
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% |