In addition to offering FHA and VA loans, Citi has two exclusive programs designed to help make homes more affordable for eligible low- and moderate-income borrowers.
Citi’s proprietary HomeRun mortgage is a low down payment solution aimed at making a home purchase less complicated and more affordable for borrowers in certain areas. With flexible credit requirements, fixed rates comparable to conventional loans and more manageable monthly payments, borrowers can put as little as 3% down with no PMI requirement. This program requires homeownership counseling in most instances.
Additionally, Citi has a Lender Paid Assistance (LPA) program that provides lender credit up to $7,500 to assist eligible borrowers with closing costs.
Citi also has more flexible credit guidelines, accepting a 580 credit score in certain circumstances, with 620 being more typical.
Availability
Available in all 50 states and Washington D.C.
How To Apply
Borrowers can start their application online, over the phone, via mobile app or at a branch location, but they must close the loan with a bank rep in person (though this can be done outside a branch with a notary).
Customer support by phone with a CitiMortgage representative is available Monday through Friday from 8 a.m. to 10 p.m. EDT, and Saturday from 9 a.m. to 7 p.m. EDT. Cenlar FSB—which services CitiMortgage’s home loans—offers customer support Monday through Friday from 8 a.m. to 8 p.m. EDT, and Saturday from 8:30 a.m. to 1 p.m. EDT.
