www.citimortgage.com – Check Current Citi Mortgage Rates Online

To check current mortgage rates offered by citibank online, visit http://www.citimortgage.com.

For a quick look at the approximate rates that are being offered, you should move your mouse over the “See Today’s Rates” button, and the current fixed rates in California will pop up. Both the 30 year and the 15 year fixed rates are shown. The rates are listed under the columns of “Interest Rates”, “Points”, and “APR”. If you are trying to compare Citibank mortgage rates with that of another bank, the correct rate to use for comparison would be the annual percentage yield “APR” rate, which takes into account points and prepaid interest among different lenders. Note however that the APR may or may not include application and appraisal fees, as well as title insurance.

Mortgage rates offered by banks vary depending on many factors, including your state of residence, your credit score, the duration of the loan, and your income level. For a more comprehensive look at Citi mortgage rates that take into account some of these factors, you need to click on the “Get your new home mortgage started today” link, which leads you to a page with the “Customize my rates” button. Clicking on that button takes you to a comprehensive mortgage interest calculator. At first sight, the calculator looks very forbidding, because of the large number of fields on it. However, many of these fields are automatically calculated from the values you enter, so the actual number of fields you have to enter is very small. The most important fields are right on the top of the calculator, marked with red asterisks. These are the location of the property you want to buy, whether it is a primary residence or a vacation home, and the expected purchase price. Based on your entries in these fields, the monthly homeowner’s insurance and taxes will be automatically calculated. The downpayment is also automatically set at 20% of the desired loan amount. Note that if you cannot pay a downpayment of at least 20%, you will be hit with a higher interest rate and be required to purchase additional mortgage insurance. Conversely, if you enter a higher downpayment, you can get a lower interest rate. Finally, you need to enter your monthly income and expenses. Once you have entered these fields, just click on the “Save and Continue” button, and you will be presented with a variety of mortgage options based on your inputs, including both fixed and adjustable interest rate loans of various durations.

To check today’s citi mortgage rates online, go to http://www.citimortgage.com.

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