The Citizens Bank Mortgage Rates, Fees & Info

Farmington, NM

LEI: 549300YSNNGTWBX45K83

Tax ID: 85-0021005

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Mortgage Data

Review & Overview

The Citizens Bank is a smaller bank specializing in Home Purchase loans. The 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.) Their top (well, only) market is Farmington.

The Citizens Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

47

Origination Dollar Volume (All Markets)

$10,285,000

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
FARMINGTON, NM (FHA|USDA|VA) 47 $10,285,000 $218,830 $0 0.00%
The Citizens Bank's top markets include and Farmington among others.

Their top states include:
  • New Mexico (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 46 $10,040,000 $218,261 $0 0.00%
    FHA 1 $245,000 $245,000 $0 0.00%

    For 2023, The Citizens Bank's most frequently originated type of loan was Conventional, with 46 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 32 $8,550,000 $267,188 $0 0.00%
    Home Improvement 7 $625,000 $89,286 $0 0.00%
    Refi 6 $890,000 $148,333 $0 0.00%
    Other 1 $65,000 $65,000 $0 0.00%
    Cash Out Refi 1 $155,000 $155,000 $0 0.00%

    For 2023, The Citizens Bank's most frequently cited loan purpose was Home Purchase, with 32 originations. The 2nd most popular reason was Home Improvement, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 47 $10,285,000 $218,830 $0 0.00%

    For 2023, The Citizens Bank's most frequently cited loan duration was Other, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 17 $5,035,000 $296,176 $0 0.00%
    $100,000 or less 13 $645,000 $49,615 $0 0.00%
    $100k-200k 12 $1,880,000 $156,667 $0 0.00%
    $400k-600k 4 $1,960,000 $490,000 $0 0.00%
    $600k-1MM 1 $765,000 $765,000 $0 0.00%

    2023 saw The Citizens Bank place emphasis on $200k-400k loans with 17 originations, totaling $5,035,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 12 $2,900,000 $241,667 $0 0.00%
    $150k-250k 9 $2,065,000 $229,444 $0 0.00%
    $50k-75k 7 $845,000 $120,714 $0 0.00%
    $250k+ 6 $2,610,000 $435,000 $0 0.00%
    $75k-100k 6 $1,090,000 $181,667 $0 0.00%
    $50k or less 4 $280,000 $70,000 $0 0.00%

    The Citizens Bank lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $150k-250k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 47 $10,285,000 $218,830 $0 0.00%

    The Citizens Bank lent most frequently to those with DTI ratios of Exempt%, with 47 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 43 $9,635,000 $224,070 $0 0.00%
    Not applicable 3 $495,000 $165,000 $0 0.00%
    Not provided 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.04%

    The Citizens Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    74.47%

    The Citizens Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 47 $10,285,000 $218,830

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    47 $10,285,000 $218,830