Terms, conditions and fees of accounts, programs, products and services are subject to change. This is not a commitment to lend. All loans are subject to credit and property approval. Certain restrictions may apply on all programs. Offer cannot be combined with any other mortgage offer.
5/1 ARM Loan:
For a 5/1 ARM, the initial fixed rate for the first 60 months will be 3.500%, and is estimated to adjust based upon the sum of the current index plus margin to 3.180% for the next 12 months. The interest rate may adjust annually thereafter.
30 Year Fixed Rate Loan:
The monthly payment for a 30 year mortgage loan is 360 monthly payment of $1,109.59. The monthly payments reflects principal and interest only and does not include taxes and hazard insurance. Your monthly payment may be higher.
Terms and conditions of these rates:
• Excellent credit - 780 and above
• Loan-to-Value Ratio of 80% for loans up to and including $1.5 million, Loan-to-Value ratio for loans in excess of $1.5 million is 75%
• Single Family Primary Residence
• 60-day lock period
• Fees are based on an average loan of $227,630.75 in the state of CA. Actual fees may vary.
• Actual interest rate will vary depending upon loan-to-value and credit score.
Citibank mortgage rates may change without notice subject to market conditions.
1SureStart® is a registered service mark of Citigroup Inc. Final commitment is subject to verification of information, receipt of a satisfactory sales contract on the home you wish to purchase, appraisal and title report, and meeting our customary closing conditions. This offer is not a commitment to lend and is subject to change without notice. There is no charge for the SureStart pre-approval, but standard application and commitment fees apply.
2If you are purchasing a home, we guarantee to close by the date specified in your purchase contract, unless prohibited by federal law,* and further provided that the date is at least 30 days after the application date and the date of your purchase contract. If your loan fails to close on time due to a delay by Citibank, you will receive a credit toward closing costs of $1,500. Offer not available for refinance loans, co-ops, unapproved condos, residences under construction, community lending programs and government loans.
In Texas, the credit may not result in your receiving cash back. (*Federal law requires certain disclosures be delivered to the borrower at least 3 business days before consummation. The Guarantee to close does not apply if such disclosures are required and your closing is delayed due to the 3-business-day waiting period.) Offer may be modified or withdrawn at any time without notice.
**A Citibank deposit account is required to receive the closing cost credit or rate discount.
For deposit account balances of $50,000 or more, automated monthly transfers of the mortgage payment using EZ Pay will be required.
A Citibank Mortgage Representative can inform you what the conforming loan amount is in the area where your property is located.
Actual interest rate discount and closing costs credit will depend on the level of the Citi eligible balances, which will be verified prior to closing.
Citi eligible balances include your personal account balance in your Citibank deposit accounts (checking, savings, certificate of deposit and money market) and investments held in Linked Citigroup Global Markets Inc. ("CGMI"). IRA and Keogh Accounts (except Keogh Plans with participants other than the account owner and spouse or partner) and annuity positions shown on linked CGMI Account statements are eligible (except tax qualified annuities under sections 401, 403 or 457 of the Internal Revenue Code).
Balances from Citibank, N.A. business accounts and retirement accounts including IRAs and Keoghs with participants other than the account owner and spouses or partners are excluded.
Conforming loans are loans that are up to $417,000 or up to $625,000 in certain high-cost markets. Jumbo loans are loans that exceed those conforming loan amounts.
The level of the anticipated post-close Citi eligible balances will be verified within 5 days of receiving full loan approval to determine the actual interest rate discount or closing cost credit. The anticipated post-close Citi eligible balances are based upon the balances you are anticipated to have following the closing of the mortgage loan and taking into account any down payment and/or closing costs you will be paying from Citi account(s) at closing.
Automated monthly transfers from a Citibank personal deposit account are required on balances of $50,000 or more. To initiate the monthly transfers of the mortgage payment, you will need to execute the EZ Pay enrollment form at closing. Automatic transfers of your mortgage payment from savings accounts, including money market accounts, are limited to a maximum of 6 transfers per monthly statement period.
Using borrowed funds, such as home equity line of credit or other line of credit, to artificially raise deposits in order to receive pricing benefits or meet eligibility requirements is prohibited.
Availability of the Citibank mortgage relationship pricing for Citibank account holders is subject to change without notice.
©2015 Citibank, N.A. equal housing lender, member FDIC, NMLS #412915. Citi, Citibank, Arc Design and Citi with Arc Design are registered service marks of Citigroup Inc.