Citizens Bank mortgage review 2026

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The Yahoo Finance View: Citizens Bank could be a strong option depending on what type of home loan you’re looking for. Its fast and convenient HELOC is a standout, though according to government data, its total loan costs are slightly higher than the industry median.

Citizens Bank is a nationwide financial institution offering a number of mortgage products. The bank boasts traditional options like conventional, FHA, and VA loans, as well as more specialized products like medical professional loans, construction loans, and home equity lines of credit (HELOCs). There are options for down payment and closing cost assistance, as well as cash rewards when you buy or sell through a Citizens Bank partner real estate agent.

On the downside, Citizens’ loan costs are somewhat higher than the industry median.

MORE: Discover the best mortgage lenders right now

Key benefits

Need to know

Visit Citizens Bank’s website to get started.

Citizens Bank offers the following types of home loans:

Citizens Bank does not offer the following types of home loans:

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Citizens Bank has several loan options for first-time buyers, including FHA, VA, and 3%-down conventional loans. The bank also offers a Destination Home Mortgage™ that doesn’t charge private mortgage insurance (PMI) and may include down payment and closing cost assistance. The ONE Mortgage program is available in Massachusetts and comes with discounted interest rates, payment subsidies, and no PMI.

A Citizens Bank representative also told Yahoo Finance that the lender offers a $3,000 to $10,000 closing cost assistance grant for first-time home buyers meeting certain income and location requirements.

MORE: Discover the best mortgage lenders for first-time buyers.

If you’re looking to tap your home equity, Citizens Bank has two options: A cash-out refinance or a home equity line of credit (HELOC). If you don’t want to replace your original mortgage loan with a brand new one, a HELOC is your best bet with Citizens. Here’s what to know about the bank’s HELOCs.

Citizens’ HELOCs are a standout. Thanks to its “FastLine®” app-based application process, you can get your rate quote within minutes. Once you accept the rate and loan amount offered, you fill out the full application and can close in as little as seven days and tap your funds within two weeks.

Citizens Bank HELOCs have 10-year draw periods and 15-year repayment periods. The bank also offers a “GoalBuilder®” HELOC. This allows you to borrow $5,000 to $25,000 without fees or prepayment penalties. It’s designed for borrowers who need smaller amounts and are worried about qualifying for a traditional HELOC.

Though its HELOCs are variable-rate products, you have the option to lock in a fixed rate on some or all of your outstanding balance. You can have up to three rate locks at a time for set amounts.

Citizens Bank’s HELOCs have no application or closing costs, and there is no annual fee for the first year. After that, there is a $50 yearly fee for the entire draw period (unless you maintain a Quest® Checking account with Citizens).

Citizens Bank is pretty transparent about its mortgage rates — at least on its 30- and 15-year fixed-rate options. The rates for these are clearly displayed on the bank’s website, with a breakdown of interest rate, APR, points included, and estimated monthly payment for each. Both numbers include a 0.125% discount for setting up autopay and paperless billing.

There aren’t any advertised rates for specific loan programs, such as FHA or VA loans, so you’ll need to fill out a mortgage prequalification application to get an idea of the exact interest rates you’d get on these loans.

Yahoo Finance uses 2024 Home Mortgage Disclosure Act data from almost 5,000 mortgage companies to score mortgage lenders on issued mortgage rates and total loan costs. We score each lender on a scale of 1 (lowest) to 5 (highest).

For example, with mortgage rates, a lender with a lower score charged a higher-than-median mortgage interest rate for loans issued in 2024. A higher score would indicate a lender granted lower-than-median home loan interest rates to borrowers in 2024.

With total home loan costs, a lower score would indicate that a lender charged higher-than-median total home loan costs in 2024. A high rating would mean that a mortgage lender offered lower-than-median all-in home loan costs in 2024.

What this means: Citizens Bank offered a near-median mortgage rate of 6.5% and a slightly higher loan cost of $6,362.11 to borrowers in 2024.

Citizens Bank makes applying for a mortgage relatively easy, and the entire process can be done online. See below for how to go about it.

Citizens Bank doesn’t advertise a preapproval option on its website, but you can get “prequalified” using the bank’s online tool. To do so, you’ll need to provide information about your goals, budget, and finances. You’ll then see several loan options and rate quotes for your specific situation.

Once you’ve gone through the prequalifying process, you can click through and fill out the bank’s complete application, compare all your loan options, and then upload your financial documentation. This can all be done online using the bank’s Blend platform.

The Citizens Bank website has many borrower resources, including home-buyer guides and articles, a glossary, and an FAQ section. The bank also has seven mortgage-related calculators — three for buying a home, two for HELOCs, and two for refinancing. There are also some videos, including one that walks you through the lender’s online application process.

PNC Bank has more loan options than Citizens, offering USDA loans, lot loans, renovation loans, and more. While both are options if you need a HELOC, Citizens Bank’s “fastline” app makes it a standout, boasting fast rate quotes and quick funding.

PNC Bank mortgage review

If you’re on the hunt for borrower incentives, Chase is full of them, offering a variety of grants, credits, and guarantees ($5,000 if you don’t close on time!). The two lenders are pretty even on loan offerings, and both have above-average ratings for customer service.

Chase Bank mortgage review

Citizens Bank charged mortgage rates that were equal to the industry median in 2024, with a typical rate of 6.5%. You can get a personalized rate quote by filling out the bank’s online prequalification questionnaire.

Citizens Bank rates well above average in mortgage customer satisfaction, according to the 2025 J.D. Power study. However, it has 1.2 out of 5 stars on Trustpilot. The bank has a B+ rating with the Better Business Bureau, after being docked for government action against the business and the time it takes to respond to customer complaints.

Citizens Bank offers a variety of mortgage loan options, so it could be good if you’re looking for a specific type of loan that’s hard to find elsewhere. According to the 2025 J.D. Power Mortgage Origination Customer Satisfaction Study, the bank rates near the top in customer satisfaction.

Methodology:

Yahoo Finance reviews mortgage lenders based on five primary considerations: 1) Interest rates. Using 2024 Home Mortgage Disclosure Act data from almost 5,000 mortgage companies, we analyze mortgage lenders based on issued mortgage rates below or above the annual median of reporting lenders. 2) Affordability. A measure of loan product availability and the willingness of a lender to offer government-backed loans, low down payments, down payment assistance, and consideration of nontraditional credit. 3) Loan costs. HMDA data is again analyzed, and total loan costs are compared to the annual median. 4) Rate transparency. The ability of a website user to obtain a mortgage interest rate estimate. We also consider whether rates are enhanced with discount points or high credit score requirements, disclaimers revealing rate assumptions, sample advertised rates, and whether adjustable or no discount point rate estimates are available. 5) Online features. An analysis of the educational material, calculators, and additional resources available to users.

Advertisers or sponsorships do not influence ratings.

Editorial disclosure for mortgages:

The information in this article has not been reviewed or approved by any advertiser. The details on financial products, including interest rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the lender’s website for the most current information. This site doesn’t include all currently available offers.

Laura Grace Tarpley edited this article.

 

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