Citizens Bank has been serving customers since 1828. It is one of the oldest financial institutions in the country. The bank promises to give customers the best experience possible. They strive to offer excellent customer service and the lowest Citizens Bank mortgage rates possible. The bank provides services in the New England, Mid-Atlantic, and Midwest areas of the country. This loan will explain the mortgage process and rates that Citizens Bank provides.

Bonus readCitizens Bank Mortgage Account Login

Citizens Bank Current Mortgage Rates

To research the current Citizens Bank mortgage rates, go to their official website.

Type of Mortgage Rate Interest Rate APR (Annual Percentage Rate) (Annual Percentage Rate) Estimated Monthly Payment
30-year fixed 3.375% 3.928% $1071.60
20-year fixed 3.125% 3.690% $1301.35
15-year fixed 2.750% 3.233% $1566.28
3/1 ARM 2.125% 4.122% $941.41
5/1 ARM 2.500% 3.827% $965.90
7/1 ARM 2.625% 3.745% $980.59
10/1 ARM 2.875% 3.736% $1010.39

***Rates will fluctuate frequently; therefore, you need to check the website for the most current information.

Citizens Bank Mortgage Rates Additional Information

30-year mortgage rates are the most common type of mortgage. However, people wanting to save money are now choosing shorter options, such as 20, 15, or 10-year terms. 20-year mortgage rates, 15-year mortgage rates, and 10-year mortgage rates will allow you to pay off your loan sooner than 30-years. Therefore, you can save money over the life of the loan. You will pay less interest, and you will get better rates.

You can also choose the adjustable rate option. These rates are lower through the introductory period. However, they can increase or decrease depending on the market trend. If you get a higher interest rate or if you plan to stay in your home temporarily, this could be a good option for you.

Citizens Bank also offers refinance mortgage rates. You might be able to lower your monthly payment or shorten the length of the loan. You could switch from an adjustable rate to a fixed rate. If you need a larger loan, jumbo mortgage rates are also available with Citizens Bank.

Before applying for a home mortgage loan, you need to use the mortgage loan calculator. You can find it on their website as well. The calculator can help you know exactly how much you can afford, so you will feel confident when looking for your new home.

You can call a representative to get pre-qualified for a loan, or you can apply online. The application will ask you a few questions, such as information about your banking accounts, assets, and debts. Your credit score is a big factor when getting approved for a loan, so you might want to check your score before you begin the application process. You will need to create a username and password, so you can access the website and keep up with the progress of your loan.

Monthly Mortgage Payment Example

Type of Mortgage Rate 30-year fixed rate 20-year fixed rate 15-year fixed rate
Mortgage Amount $300,000 $300,000 $300,000
Interest Rate 3.375% 3.125% 2.750%
APR (Annual Percentage Rate) 3.928% 3.690% 3.233%
Number of Payments 360 240 180
Average Monthly Payment $1637.96 $1994.37 $2348,36
Total Amount of Interest $177,165.05 $103,649.25 $66,455.68
Total Amount Paid $589,665.05 $478,649.25 $422,705.68

***The values in this table are approximate results of our calculations and can vary depending on the type of credit you opt for. Please note that these are our examples and not offered by the financial institution.

Citizens Bank Mortgage Rates will allow you to achieve your financial dream. You can find a loan that is right for you, so you can enjoy the perks that come with your new home.