Whether customers are looking for construction-to-permanent financing, jumbo loans or affordable home loans, we serve a variety of needs, backed by a full suite of products to support them.

AGENCY

Conforming Products

Standard loan amounts up to 97% LTV including HomeReady and HomePossible (low-to-moderate-income)

• High balance loan amounts up to 95% LTV
• All occupancy/LTV parameters follow Fannie Mae and/or FreddieMac without overlays

GOVERNMENT

FHA Products

Standard and jumbo loan amounts follow FHA parameters

• Up to 96.5% LTV
• Secondary financing from HUD-approved entity permitted
• Fixed-rate products occupancy types follow FHA

VA Products

Loan amounts up to $2 million

• Fixed-rate products
• No/low down payment options for qualifies veterans
• Gift funds from acceptable sources allowed toward closing costs, down payment, and/or cash reserves
• Fixed-rate mortgage for primary residences only
• Seller concessions permitted
• VA Interest Rate Reductions Loan on primary, secondary homes and investment properties

PORTFOLIO*

Portfolio Jumbo Loans

Financing at competitive interest rates

• Jumbo and super jumbo loan amounts, up to $3.5 million (limited states over $2 million)

For primary residence only:

• Up to 95% LTV with mortgage insurance on loan amounts up to $850,000, 90% LTV with mortgage insurance on amounts up to $1.5 million, and up to 85% LTV with mortgage insurance amounts up to $2 million
• Fixed- and adjustable-rate mortgages; interest-only option available on select ARMs
• Second homes and investment properties eligible (on select plans)

Construction-to-Permanent Financing

A single-close loan that combines construction and permanent financing. Also available for renovations and tear downs.

• Permanent interest rate locked before construction begins
• No reappraisal or re-qualifying at time of completion
• In-house draw team — builder will have same draw colleague from beginning to end
• One loan qualification and one set of closing costs
• During construction, borrowers only required to make interest payments calculated on disbursed funds up to 18 months
• Jumbo and super jumbo loan amounts, up to $3 million (limited states permitted)
• Up to 85% LTV with lender-paid mortgage insurance for loan amounts up to $1,500,000 (primary residence only)
• Fixed- and adjustable-rate mortgages
• Second homes eligible

Citizens Doctor Loan

A mortgage available to licensed doctors (MD), (MD PHD), (DO), (DDS), and (DMD). Borrowers must have completed residency within the last 10 years, be a newly licensed medical resident currently in residency, or begin residency within 60 days of mortgage closing. May also be self-employed or a medical researcher employed by a major hospital.

• Up to 95% LTV with no mortgage insurance for loan amounts up to $850,000 (for select states)
• Student loan debt deferred for greater than 12 months from the date of closing can be excluded from the DTI (40% max. DTI)
• Construction-to-Permanent eligibility — maximum 85% LTV
• Fixed- and adjustable-rate mortgages; interest-only option available on select ARMs
• Purchase transactions of primary residences only (Rate/Term Refi also eligible for fully amortization non-CTP plans)

Citizens Closing Cost Assistance

• Provides grant funds for down payment and/or closing costs
• Income restrictions
• Must be located in Citizens’ CRA Assessment Area
• Eligible with FHA, FNMA, HomeReady, FHLMC, HomePossible and Destination Home Plus

Citizens Tandem Home Equity Loan or Line of Credit - 80-10-10

Subordinate financing for purchase and refinance transactions in which Citizens is providing the first mortgage.

• Closed simultaneously with the first mortgage
• Helps borrowers avoid mortgage insurance on jumbo loan amounts
• Second homes eligible

OTHER PROGRAMS

Co-Op Financing

Loans for the purchase of individual co-operative share units in the five boroughs of New York City and the counties of Nassau, Rockland, Suffolk, and Westchester.

• Fixed- and adjustable-rate mortgages
• Second homes eligible

Non-Warrantable Condo Financing

(Only eligible on select portfolio plans)
Financing for condos that don’t meet minimum eligibility requirements for a conforming Fannie Mae and Freddie Mac loan.

Citizens offers non-warrantable condo financing in Connecticut, Delaware, District of Columbia, Maryland, Massachusetts, Michigan,
New Jersey, New York, Pennsylvania, Virginia, Florida, Ohio and New Hampshire.

Lock and Shop

Credit approved borrowers can obtain a 90-day rate lock, even before they find a home.

• A signed purchase-and-sale agreement must be signed within 30 days of rate lock, and loan must close within 90 days of rate lock.

Extended Rate Lock Without Float Down for Purchase Loans

Borrowers can lock in a rate for up to 12 months on Agency fixed-rate and adjustable-rate programs for an upfront fee and up to four
months on portfolio fixed products.

Relationship Discounts Reward Your Clients

Citizens’ suite of banking solutions allows you to deepen client relationships with exclusive rates and discounts.

• Clients get 0.125% off their interest rate simply by setting up automatic monthly payments from any Citizens Checking account and enrolling in e-statements.*
• Robust corporate Affinity program features $1,000 credit at closing on a purchase or refinance mortgage loans.
• Best-in-class Private Wealth relationship discounts on most mortgage product types (Saleable/Portfolio).

Ready to build your mortgage career?

Explore career opportunities, grow your expertise, and help customers achieve homeownership dreams.

Mortgages are offered and originated by Citizens Bank, N.A. All loans are subject to approval. (NMLS ID# 433960)

*Portfolio loan programs are available only in select states. Offers may be withdrawn and subject to change without notice. 

In the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT, a Citizens consumer checking account set up with automatic monthly payment deduction and e-statement enrollment is required at time of loan origination to be eligible for a 0.125 percentage point mortgage interest rate discount. All other states require a consumer checking account set up with automatic monthly mortgage payment deduction. E-statement enrollment is required at time of loan origination to be eligible for the 0.125 percentage point interest rate discount. One offer per property. Not applicable to Bond or CRA loan programs. Other exclusions and restrictions may apply.

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