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Mortgage Refinancing

Explore options for refinancing your loan.

If you’re looking to lower your interest rate or shorten your loan term, refinancing your home loan may help you get into a better financial position for your changing life circumstances.

Another way to lower your interest rate.

If you're refinancing and have a Citizens checking account you could save even more.

Learn how
Fixed-Rate Mortgages

Fixed-Rate Mortgage Details

When you refinance into a fixed-rate mortgage, your interest and principal payments won't change for the life of the loan. Fixed-rate mortgages offer more stability in monthly payments than an ARM. To estimate your rate, use our Custom Rate Quote tool.

Product Rate APR* Points Repayment Example
30-Year Fixed Rate View Rates View Rates #ProductLine=Mortgage|Brand=citizensbank|NAME=Conforming Fixed Rate Mortgage - Refinance|Descr=30 Year Fixed Rate|ProductAttribute=POINTS#
20-Year Fixed Rate View Rates View Rates #ProductLine=Mortgage|Brand=citizensbank|NAME=Conforming Fixed Rate Mortgage - Refinance|Descr=20 Year Fixed Rate|ProductAttribute=POINTS#
15-Year Fixed Rate View Rates View Rates #ProductLine=Mortgage|Brand=citizensbank|NAME=Conforming Fixed Rate Mortgage - Refinance|Descr=15 Year Fixed Rate|ProductAttribute=POINTS#

*Rates listed above are for conforming refinance loans, are effective as of
#ProductLine=Mortgage|Brand=citizensbank|ProductAttribute=RATE_UPLOAD_DATE# and subject to change at anytime. Rates include a 0.125 percentage point reduction which requires a Citizens Bank consumer checking account set up at time of loan origination with automatic monthly payment deduction. One offer per property. Not applicable to Bond or CRA loans. Other restrictions may apply.

Adjustable Rate

Adjustable-Rate Mortgage (ARM)

When refinancing your home, our adjustable-rate mortgage (ARM) is ideal if you plan to stay in your home for a shorter period of time or have a higher tolerance for rate variability. ARMs generally offer initial interest rates that are lower than most fixed-rate mortgages. The initial interest rate on an ARM starts out fixed for a set number of years, then becomes variable. After that, the rate or payment will go up or down each year as the market index changes. To estimate your refinance rate. Use our Custom Rate Quote tool.

Product Rate APR* Points Repayment Example
5/1 Fully Amortizing ARM View Rates View Rates #ProductLine=Mortgage|Brand=citizensbank|NAME=Conforming Adjustable Rate Mortgage - Refinance|Descr=5/1 Fully Amortizing ARM|ProductAttribute=POINTS#
7/1 Fully Amortizing ARM View Rates View Rates #ProductLine=Mortgage|Brand=citizensbank|NAME=Conforming Adjustable Rate Mortgage - Refinance|Descr=7/1 Fully Amortizing ARM|ProductAttribute=POINTS#
10/1 Fully Amortizing ARM View Rates View Rates #ProductLine=Mortgage|Brand=citizensbank|NAME=Conforming Adjustable Rate Mortgage - Refinance|Descr=10/1 Fully Amortizing ARM|ProductAttribute=POINTS#

*Rates listed above are for conforming refinance loans, are effective as of
#ProductLine=Mortgage|Brand=citizensbank|ProductAttribute=RATE_UPLOAD_DATE# and subject to change at anytime. Adjustable rate mortgages (ARMs) have interest rates that are subject to increase after loan closing. Rates include a 0.125 percentage point reduction which requires a Citizens Bank consumer checking account set up at time of loan origination with automatic monthly payment deduction. One offer per property. Not applicable to Bond or CRA loans. Other restrictions may apply.

Jumbo Mortgage

Jumbo Mortgage

A jumbo mortgage is required if you need to borrow an amount that exceeds the conforming loan limits. The current limit for a single-family home in the U.S. is $424,100 in most places. To estimate your rate, use our Custom Rate Quote tool.

 

Product Rate APR* Points Repayment Example
30-Year Fixed Rate View Rates View Rates #ProductLine=Mortgage|Brand=citizensbank|NAME=Jumbo Fixed Rate - Refinance|Descr=30 Year Fixed Rate|ProductAttribute=POINTS#
15-Year Fixed Rate View Rates View Rates #ProductLine=Mortgage|Brand=citizensbank|NAME=Jumbo Fixed Rate - Refinance|Descr=15 Year Fixed Rate|ProductAttribute=POINTS#

 

Product Rate APR* Points Repayment Example
3/1 Fully Amortizing ARM View Rates View Rates #ProductLine=Mortgage|Brand=citizensbank|NAME=Jumbo Adjustable Rate Mortgage - Refinance|Descr=3/1 Fully Amortizing ARM|ProductAttribute=POINTS#
5/1 Fully Amortizing ARM View Rates View Rates #ProductLine=Mortgage|Brand=citizensbank|NAME=Jumbo Adjustable Rate Mortgage - Refinance|Descr=5/1 Fully Amortizing ARM|ProductAttribute=POINTS#
7/1 Fully Amortizing ARM View Rates View Rates #ProductLine=Mortgage|Brand=citizensbank|NAME=Jumbo Adjustable Rate Mortgage - Refinance|Descr=7/1 Fully Amortizing ARM|ProductAttribute=POINTS#
10/1 Fully Amortizing ARM View Rates View Rates #ProductLine=Mortgage|Brand=citizensbank|NAME=Jumbo Adjustable Rate Mortgage - Refinance|Descr=10/1 Fully Amortizing ARM|ProductAttribute=POINTS#
5/1 Interest Only ARM View Rates View Rates #ProductLine=Mortgage|Brand=citizensbank|NAME=Jumbo Adjustable Rate Mortgage - Refinance|Descr=5/1 Interest Only ARM|ProductAttribute=POINTS#

*Rates listed above are for portfolio jumbo refinance loans, are effective as of
#ProductLine=Mortgage|Brand=citizensbank|ProductAttribute=RATE_UPLOAD_DATE# and subject to change at anytime. Adjustable rate mortgages (ARMs) have interest rates that are subject to increase after loan closing. Rates include a 0.125 percentage point reduction which requires a Citizens Bank consumer checking account set up at time of loan origination with automatic monthly payment deduction. One offer per property. Not applicable to Bond or CRA loans. Other restrictions may apply.

First Lien Position Home Equity Loan

10-Year First Lien Position Home Equity Loan

You may qualify for an even lower home equity rate with a First Lien Position Home Equity Loan. This product is for borrowers with no other mortgages or liens on the property, or who intend to pay off an existing first mortgage with a new home equity loan. Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.

APR†† DETAILS


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  • Typically no closing costs
  • Close in about 30 to 45 days
  • Interest may be tax deductible; consult your tax advisor
  • Minimum loan amount of $50,000
  • Save 0.25 percentage points off your home equity interest rate with a Citizens Bank checking account**
  • Maximum loan-to-value (LTV) of 80%

†† Rates listed above include all discounts and are effective as of #ProductLine=Mortgage|Brand=citizensbank|ProductAttribute=RATE_UPLOAD_DATE# and are subject to change at any time. For important additional information including how to obtain these rates, see full disclosures below**.

 

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