If you have a lower down payment or credit score, Federal Housing Administration (FHA) Loans, Veteran Affairs (VA) Home Loans, and Opportunities Within Neighborhoods (OWN) could help you buy a home. Or if your home has a high value, you might need a jumbo loan.
Loan amounts that stay within the limits set by the Government-Sponsored Enterprises (GSE) Fannie Mae or Freddie Mac are called conforming loans. Jumbo loan amounts are larger than those limits.
These are the general conforming loan amounts, but may be adjusted higher depending on the property location.
An FHA loan is a mortgage insured by the Federal Housing Administration (FHA). This government-backed program offers lower down payments and fewer credit score restrictions than conventional mortgages. FHA loans are available as both fixed rate and adjustable rate mortgages.
Interested in or have questions about FHA loans? Call 1-800-248-4638 to speak with a Citi mortgage representative.
If you're a current or former member of the U.S. Armed Forces or a surviving spouse of a service member, you could qualify for a Veterans Affairs (VA) home loan. This is a mortgage guaranteed by the Department of Veterans Affairs.
VA loans often have lower interest rates, mortgage closing costs and down payment requirements than conventional loans.
Interested in or have questions about VA loans? Call 1-800-248-4638 to speak with a Citi mortgage representative.
OWN programs offer mortgage help to qualified borrowers with low or moderate income or borrowers buying homes in low- and moderate-income areas. Reduced down payment options and flexible credit requirements are just some of OWN's benefits.
HomeRun is Citi's exclusive loan program. You could qualify for HomeRun if you earn less than 80% of the Area Median Income. The program is available regardless of income in some areas.
HomeRun's benefits include:
If you're a first-time homebuyer, you could be eligible for a government bond and mortgage credit certificate (MCC) program to help you purchase your home. Program eligibility requirements, benefits and geographic availability vary.
We also work with federal, state and local housing agencies and nonprofits that can further assist you with down payment and closing costs. Program availability and eligibility vary, but a Citi mortgage representative can help you find program options.
To learn more about these programs and find out if you qualify, visit your local branch or call 877-287-1433. Be sure to mention offer code 13253.
Opportunities Within Neighborhoods is a registered service mark of Citigroup, Inc. The programs are available only in Citibank assessment areas and are subject to geographic, income, property, and product restrictions. Certain additional restrictions may apply on bond program loans available in Citibank assessment areas.