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CitiMortgage Refinance

CitiMortgage Refinance loans are available at competitive rates to help you meet your financial objectives. A refinance loan becomes a good financial decision when you have any of the following objectives in your mind.
  • You want to lower your monthly payment
  • You want to change from an adjustable loan to a fixed loan option
  • You want to get the benefit of an interest rate that is lower than your existing rate
  • You want to pay off your mortgage sooner and build equity faster
  • You want to take cash out of the equity in order to pay for various expenses
It is possible to achieve any of the afore-mentioned goals provided you meet the refinancing criteria set by the bank. It is also important to analyze your situation properly and see if a refinancing option is actually going to solve your financial problems. A refinance calculator has been provided online at the website of the bank to help you get a clear picture based on facts. The calculator can analyze the data fed to it and come up with a decision whether or not it is feasible for you to opt for a refinance option.

CitiMortgage Refinance Rates

It is necessary that the refinance rates you are being offered are significantly lower than the rates you are currently paying. If this is not the case the whole purpose of refinancing a mortgage loan will be lost and you will end up paying more in closing costs and other unnecessary fees. Fortunately, Citibank also offers no cost refinance or one with very little closing costs. Here is a quick review of CitiMortgage refinance rates.

Loan Types Interest Rate APR
30 Year Fixed 4.750% 5.085%
15 Year Fixed 4.000% 4.568%
5/1 Libor ARM 3.125% 3.367%

CitiMortgage Refinance Options

The most popular refinance option is obviously the one that requires you to pay no closing costs or spend the least amount at the time of closing. Next comes in popularity the refinance option that allows you to change the type of loan. For example, you may want to change your adjustable rate mortgage (ARM) into a fixed-rate one because the set period of low interest rate is over and the rate is now beginning to adjust to the market.

Apart from these options there are products aimed at different kinds of customers under different financial conditions. These products may include VA Streamline Refinance, FHS short refinance and Home Affordable Refinance Program (HARP) for existing customers facing financial hardship.

For more options and current rates, contact the customer service department of the bank at 1-800-248-4638. You can also use this phone number to report refinance scam and other complaints and get solutions to your payment problems swiftly.


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