What is a mortgage loan?

Think of a mortgage as your pathway to homeownership. It is a loan that helps you buy a home without having the full purchase price in hand. You borrow money and agree to pay it back over time in the form of monthly payments, with some interest and fees included.

How do you get preapproved for a home loan?

Before getting your heart set on a home, you’ll want to get preapproved for a home loan to ensure smooth sailing once you find “the one.” This involves providing your financial information to a lender who will evaluate your credit score and determine how much you can borrow.

FHA vs. conventional loans: What’s the difference?

FHA loans, also known as Federal Housing Administration loans, are backed by the government. In contrast, conventional loans come from private mortgage lenders and usually require a higher credit score.

HELOC vs. home equity loan: Which is best for you?

A HELOC offers flexible borrowing with variable rates and monthly payments, while a Home Equity Loan provides a fixed sum and consistent payments for easier budgeting.

How to buy a house with bad credit or no credit?

Even with a lower credit score, obtaining a home loan might still be possible. An FHA loan could be a viable option as it's tailored to assist individuals with lower credit scores or little or no credit history.

Home loan types

Compare Citi mortgage loans with different terms, rates and eligibility criteria.

Conventional Loans
A flexible home loan that isn’t backed by the government.
Fixed-Rate Loans
Lock in a steady interest rate and predictable monthly payments.
HomeRun® Mortgage
In select markets, buy with as little as 3% down, no mortgage insurance and fixed rates. Income limitations may apply.
Adjustable-Rate Loans
Start with a lower initial rate that will fluctuate over time.
HELOC
Access your home’s equity from a line of credit for projects or expenses.
FHA Loans
A government-backed loan with flexible credit and low down payments.
Jumbo Loans
Financing above $832,750, or up to $1,249,125 in high-cost areas.
VA Loans
Veterans and those serving may get a lower rate with no down payment.

Explore the mortgage loan world

Home mortgage FAQs

Think of a mortgage as your pathway to homeownership. It is a loan that helps you buy a home without having the full purchase price in hand. You borrow money and agree to pay it back over time in the form of monthly payments, with some interest and fees included.
Before getting your heart set on a home, you’ll want to get preapproved for a home loan to ensure smooth sailing once you find “the one.” This involves providing your financial information to a lender who will evaluate your credit score and determine how much you can borrow.
FHA loans, also known as Federal Housing Administration loans, are backed by the government. In contrast, conventional loans come from private mortgage lenders and usually require a higher credit score.
A HELOC offers flexible borrowing with variable rates and monthly payments, while a Home Equity Loan provides a fixed sum and consistent payments for easier budgeting.
Even with a lower credit score, obtaining a home loan might still be possible. An FHA loan could be a viable option as it's tailored to assist individuals with lower credit scores or little or no credit history.