Low interest rates may have you considering refinancing. If you are interested in refinance mortgage rates, Citibank is worth comparing to other lenders.
Low interest rates may have you considering refinancing your home to improve your interest rate and reduce your mortgage payments. If you are interested in refinance mortgage rates, Citibank is worth comparing to other lenders.
In addition to lower interest rates, refinancing may change the terms of your loan so you can pay off your mortgage sooner. Refinance mortgage rates with Citibank range from 3.625 to 4.750 on fixed-rate morgages. Of course, rates may change daily so check here for today's Citibank/CitiMortgage mortgage rates. A 15-year fixed mortgage typically offers a lower interest rate than a 30-year fixed mortgage. With the latter, you will have the benefit of a lower monthly payment, but you will pay more in total interest.
Click here to compare these rates with those of other reputable lenders.
Citibank is one of the largest lenders in the world. The CitiMortgage subsidiary is responsible for refinance loans and home loans. If you want the lowest refinancing rates, Citibank also offers you the option to pay discount points. These points are paid up front to lower your interest rate. This may be a good option if you are going to stay in your home for several years and pay off your mortgage. If you are only going to be in your home for the short term, you may not be able to recoup this investment through interest savings.
Determining how long you plan to remain in your home is a critical factor in deciding whether refinancing your mortgage is a good option for your individual situation. It's important to calculate how long it will take you to break even on the cost of financing your loan. Plus, you want to determine how much money you will save once you have recouped those costs. You should also be aware that although the refinance mortgage rates at Citibank and other lenders are low, lenders charge fees to refinance a mortgage. These fees may be for the:
- Application
- Loan origination
- Appraisal
- Inspection
- Attorney/closing
- Discount points
Find out which fees you will be charged and the cost of each before you decide to refinance. If you are interested in refinance mortgage rates, Citibank rates may be found here. To compare Citibank rates to the rates of other national lenders, go to Reply!
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