Home ownership is possibly the most important ambition and achievement of the majority of folks on earth. The cost of owning a home is usually restrictive, and Mortgages have some of the highest interests charged on any loan product, competing with Credit Card debt. There are many factors that potential homeowners need to consider before ever putting pen to paper. These include property taxes and insurance in various states, utility bills such as electricity and water, and maintenance and other homeownership dues. Most potential homeowners usually wallow in their own fantasies about owning a home. Only a very small percentage can afford to flat-out pay cash for their new homes. The rest have to seek financing options. The worst kind of approach to owning a home is picking a figure that seems to suit those fantasies and looking for a home with that. However, the process requires a certain level of prequalification, and it is always important to talk to a lender to know what is within your means as a buyer.
Citizen Bank loans for homes and mortgages not only provide you with the funding that you need to make the right purchase, but they also connect you with the right kind of advice to make sure your decision is the best.
Citizens Bank affords you a variety of options to finance your home. These are summarized below:
Citizens bank offers these various packages and more, which allows everyone to be able to access home loans.
A Review of Citizens One Personal Loans
Personal loans are the driver behind most of the purchasing economy. Think credit cards, lifestyle loans or other loans to finance personal endeavors such as weddings and travel. Being a retail bank, Citizens Bank personal loans offer a wide range of credit services with no collateral attached. Personal loans have fixed monthly repayment amounts, and the interest doesn’t fluctuate like credit cards. In fact, if you have multiple credit card debt and it is all starting to wear you down, you can consolidate that into a single personal loan spread out over a longer period with lower interest rates. You can get prequalified personal loans, and doing a soft pull from Citizens won’t hurt your credit score.
Since these loans are unsecured, you will typically find them having higher interest rates than some mortgages or auto loans.
Citizens One personal loans reviews point to the fact that the interest rates offered are friendly, though not the cheapest. A 5-year loan for $20,000 with an APR of 8.79%, for example, will cost you $413 in monthly repayments. APR generally lies between 4.99% and 16.24%, with a minimum principal application of $5000.
Citizens One personal loans review also reveals that the lender doesn’t charge any application, disbursement or origination fees on these loans, which is one great reason to settle for Citizens Bank. A 5% levy of the amount due will be charged for any late payments, which is why borrowers should always use autopay.
One of the best parts about Citizens savings and loans is that there are no penalties for prepayment. This is a big incentive to pay off your loan early or make extra payments.
Comparative Review of Citizens Bank Loans by NerdWallet
Citizens Bank doesn’t feature on Nerdwallet personal loans top reviews for borrowers with excellent credit. For minimum applications of $5000, LightStream offers a minimum APR of 3.09%, SoFi at 5%, FreedomPlus at 4.99%, LendingClub at 5.99% and Discover at 6.99%. Some of these, however, have origination fees.
Even for lending with bad credit and debt consolidation, Citizens bank still doesn’t feature in the top of those lists. Names such as SoFi, Discover, Lending Club and Marcus still dominate these lists. The probable reason is that Citizen Bank being a very old institution has stuck on to some conservative practices which caution it from offering very low interests as compared to some of the more recent lenders.
Feedback from Citizens Bank 3 Year Loans Reviews
It is always good to go through multiple reviews before settling for a lender. In Finder’s 3 year loans review on Citizens Bank, the following pros and cons have been noted:
- The highest interest charged on 7 year personal loans is almost half what the most expensive banks charge, e., 16.24%.
- No origination or disbursement fees.
- 25% interest reduction on Citizens account holders or those who’ve set up autopay.
- Customer service isn’t the best.
- Customers attest to trouble with repayments.
- Citizens Bank car loans have some of the most competitive APRs, ranging from 2.99% for Car Loan refinance to 2.49% for a new car loan.
Any Citizens Bank loans review shows great facilities with competitive APRs, comparable with United personal loans which don’t penalize prepayment, have low interest rates and no origination fees.