Citizens mortgage review: rates, costs & calculator
A large Northeast-based bank with retail mortgage lending and relationship discounts for existing customers.
Citizens mortgage rates: what borrowers actually paid
Citizens prices each borrower individually, but federal loan-level records show what its borrowers actually got. On 2,480 conventional 30-year fixed purchase loans with at least 20% down closed in 2025, the median rate was 6.49% and the median APR was 0.16 percentage points below the typical lender's, with $6,404 in loan costs.
| 2025 home purchases | Loans | Median rate | APR vs benchmark | Loan costs | With points |
|---|---|---|---|---|---|
| Conventional · Citizens | 2,480 | 6.49% | −0.14 | $6,404 | 49% |
| Conventional · all lenders | 700,082 | 6.50% | +0.02 | $5,476 | 53% |
| FHA · Citizens | 254 | 6.063% | +0.21 | $9,125 | 58% |
| FHA · all lenders | 516,729 | 6.25% | +0.42 | $11,291 | 59% |
What the numbers say
- On conventional loans, Citizens's median APR ran 0.16 percentage points below the typical lender's (−0.14 vs +0.02 percentage points against the benchmark) — roughly $35 a month on a $325,000 loan at today's 7.18% average rate.
- Other loan types: FHA 0.20 percentage points below the market (254 loans).
- Borrowers paid a median $6,404 in loan costs — $928 more than the $5,476 typical across all lenders.
- 81% of its loans came with lender credits toward closing costs, versus 33% overall.
How Citizens compares on conventional loans
| Lender | Loans | Median rate | APR vs benchmark | Loan costs | Lender credits |
|---|---|---|---|---|---|
| Citizens | 2,480 | 6.49% | −0.14 | $6,404 | 81% |
| Chase | 20,595 | 6.49% | −0.13 | $4,695 | 28% |
| U.S. Bank | 8,383 | 6.49% | −0.09 | $4,634 | 88% |
| Wells Fargo | 8,331 | 6.375% | −0.18 | $5,267 | 80% |
| Bank of America | 6,488 | 6.25% | −0.28 | $4,758 | 40% |
| All lenders | 700,082 | 6.50% | +0.02 | $5,476 | 33% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), 30-year fixed home purchases compared like for like. APR vs benchmark = median APR minus the average prime offer rate the week the rate was set; loan costs are borrower-paid. Data notes and limits.
Citizens mortgage calculator
Estimate a Citizens payment: enter the rate from your Loan Estimate, or start from today's 7.18% average 30-year fixed rate. For reference, Citizens's 2025 conventional purchase loans closed at a median 6.49%.
Prefer a full-page version? Open the mortgage calculator.
Citizens by the numbers
| Home loans originated (2025) | 68,902 |
|---|---|
| Total lending (2025) | $21.0B |
| Average loan size | $304,487 |
| Approval rate* | 66.7% |
| Volume rank (our roster) | #17 of 60 |
| Largest market | New York |
Source: federal HMDA data (2025), FFIEC/CFPB. *Approval rate = loans originated ÷ (originated + denied). It reflects a lender's channel and borrower mix — wholesale, online and refi-heavy lenders run lower because many applications are rate shops that never close — not how hard it is to work with. See our approval-rate breakdown.
What Citizens actually lends
33.7% of Citizens's 2025 loans were rate-and-term refinance loans, versus 15.3% nationally. Citizens lists FHA and VA loans, but they were under 2% of its 2025 originations — if you need one, ask how many the loan officer closes.
| Share of 2025 loans | Citizens | U.S. |
|---|---|---|
| Conventional | 99% | 78% |
| FHA | 0.8% | 13.2% |
| VA | 0.2% | 8.2% |
| USDA | 0% | 0.6% |
| Home purchase | 15.9% | 52.5% |
| Rate-and-term refinance | 33.7% | 15.3% |
| Cash-out refinance | 2.1% | 14% |
Shares of originated loans by loan type and purpose, federal HMDA data (2025). They describe the lender's business mix, not the terms you would be offered.
Citizens at a glance
Citizens (Citizens Financial Group) is one of the country's oldest and largest banks, tracing its roots to 1828 and headquartered in Providence, Rhode Island.
With roughly $226 billion in assets and a branch network concentrated across the Northeast, Mid-Atlantic and Midwest, it lends the way a full-service commercial bank does: mortgages sit alongside checking, savings, wealth management and business banking, and much of the pitch centers on rewarding customers who keep more than one product under the same roof.
As a retail depository lender rather than an online-only shop or wholesale broker, Citizens leans on its footprint.
That shows clearly in our 2025 HMDA data, where it originated 68,902 home loans worth about $21 billion at an average loan size near $304,000.
Where Citizens's approval rate sits
Citizens's 2025 approval rate of 66.7% sits against the 76.6% national average. Read it as a signal of channel, not strictness — wholesale, online and refinance-heavy lenders run lower because so many applications are rate shops that never close.
New York was the busiest state by a wide margin (roughly 23,700 loans), followed by Pennsylvania, Massachusetts, New Jersey and Ohio, a distribution that mirrors both its historic branch map and its 2022 expansion through the Investors Bancorp deal and the purchase of dozens of HSBC East Coast branches.
The lender offers the standard conventional, FHA, VA and jumbo menu, plus refinancing and cash-out options, and applications can be started digitally with prequalification.
What distinguishes it are the relationship-based hooks: an autopay-and-e-statement rate discount and deeper Private Wealth pricing, layered on top of specialty programs for physicians and lower-down-payment buyers.
Who Citizens is best for
Citizens fits Northeast and Mid-Atlantic borrowers who already bank there, or plan to, and want to consolidate a mortgage with checking and wealth relationships to capture rate discounts.
It also suits early-career physicians and dentists seeking a low-down-payment doctor loan, and higher-balance buyers who need jumbo financing from a single established institution rather than piecing it together elsewhere.
Loan programs at Citizens
Its most notable programs and specialties:
- Destination Home Mortgage — a low-down-payment option with no PMI that may include down payment and closing-cost assistance
- Medical Professional Mortgage — high loan-to-value financing for doctors and dentists with no mortgage insurance and flexibility on deferred student-loan debt
- Jumbo and super jumbo loans for higher-balance and luxury purchases
- Conventional fixed- and adjustable-rate purchase and refinance loans
- FHA and VA government-backed loans
- Cash-out refinancing and home equity products through the broader bank
Typical industry minimum down payment by core loan type — Citizens's own minimums or credit overlays may run higher:
| Loan program | Typical min. down |
|---|---|
| Conventional | 3% |
| FHA | 3.5% |
| VA | 0% |
| Jumbo | 10–20% |
Strengths
- Relationship discount of 0.125% off the rate for autopay from a Citizens checking account plus e-statements, with deeper Private Wealth pricing available
- Specialty doctor and low-down-payment programs that waive mortgage insurance
- Full-service bank — mortgage, deposits, wealth and business banking under one roof
- Deep, long-established branch presence across the Northeast and Mid-Atlantic
- Digital prequalification and application to start the process online
Considerations
- Lending is concentrated in the Northeast: New York, Pennsylvania, Massachusetts and New Jersey made up 51.0% of Citizens' 2025 HMDA records
- Citizens' mortgage discounts (0.125% off the rate for autopay and $250 to $500 off closing costs) require a Citizens checking account, so borrowers who bank elsewhere miss them.
- Mortgage servicing draws recurring complaints in the CFPB's public complaint database
Where Citizens lends most
By federal HMDA records, Citizens's largest 2025 markets were New York, Pennsylvania, Massachusetts, New Jersey and Ohio. Explore local rates, home prices and down-payment assistance for each:
States where Citizens is a top-15 lender
Ranked by home loans originated in 2025 (HMDA). Each state page compares Citizens with the other leading lenders there, including FHA and VA leaders and what their borrowers paid.
The verdict
Citizens is a solid mainstream choice for buyers in its Northeast core who value one-stop banking and can unlock relationship pricing by moving deposits over. Its doctor, jumbo and no-PMI Destination Home programs give it real range beyond vanilla conforming loans.
Borrowers outside its footprint, or those unwilling to bank there, should compare its relationship-adjusted rate against standalone lenders before committing.
How to compare Citizens
Shopping a few lenders is the single most reliable way to save. Before you commit to Citizens:
- Get three or more Loan Estimates in a two-week window — the bureaus treat it as one inquiry.
- Compare the APR, not just the headline rate — it folds in the fees.
- Weigh service and loan-type fit, not price alone.
- Verify licensing: search Citizens on NMLS Consumer Access and match the NMLS ID to the one on your Loan Estimate. (Its LEI in federal HMDA data, DRMSV1Q0EKMEXLAU1P80, is not a license number.)
Benchmark whatever you're quoted against today's the national rate benchmark.
Citizens FAQ
Is Citizens a good mortgage lender?
Citizens is a licensed U.S. mortgage lender and one of the largest, roughly #17 of 60 in our roster by 2025 volume, best for northeast borrowers.
On price, its 2025 conventional borrowers' median APR was 0.16 percentage points below the typical lender's, with $6,404 in loan costs against $5,476 market-wide.
Whether it's right for you comes down to the rate and fees it quotes — compare its Loan Estimate with two or three others.
What are Citizens's mortgage rates today?
Citizens sets rates daily by loan type, credit score, down payment and points, so the rate that counts is the one on your Loan Estimate.
For context, the average 30-year fixed rate was 7.18% in Freddie Mac's survey for the week of November 5, 2026; in 2025, Citizens's conventional purchase loans closed at a median 6.49%, against 6.50% for all lenders.
How many mortgages does Citizens originate?
In 2025, Citizens originated about 68,902 home loans, roughly $21.0 billion in lending, per federal HMDA data — an average loan of about $304,487.
What loan types does Citizens offer?
Citizens offers Conventional, FHA, VA, Jumbo. Notable programs include Destination Home Mortgage — a low-down-payment option with no PMI that may include down payment and closing-cost assistance; medical Professional Mortgage — high loan-to-value financing for doctors and dentists with no mortgage insurance and flexibility on deferred student-loan debt; jumbo and super jumbo loans for higher-balance and luxury purchases.
How do I verify Citizens is licensed?
Search the company's name on NMLS Consumer Access (nmlsconsumeraccess.org), the official registry of licensed mortgage companies and loan officers; the NMLS ID it shows is also printed on every Loan Estimate the lender issues. (The ID DRMSV1Q0EKMEXLAU1P80 used on this page is the company's LEI, which identifies it in federal HMDA data — not a license number.)
This review is editorial and independent — Citizens did not pay for or approve it, and all figures are from public federal data. It is general information, not a recommendation or personalized advice. Confirm all terms directly with the lender.
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