Lender review
Citizens Bank review: what Michigan borrowers should know
Citizens is a large Northeast-and-Midwest regional bank that originates mortgages in Michigan online and by phone. Its calling card is relationship pricing for depositors and a decent digital application. It's a middle-of-the-road option: no USDA, pricing set by loan officers, and servicing run at scale, but a competent full-service choice.
Best for: buyers wanting a regional bank with relationship rate discounts
- Headquarters
- Providence, RI
- Founded
- 1828
- NMLS
- #433960
- Min. credit score
- 620
- Min. down payment
- 3%
- MSHDA MI Home Loan
- Not on the list
What works
- Rate discounts for Citizens deposit and relationship customers
- Streamlined online application and preapproval
- Physician and portfolio jumbo options available
What to watch
- Thin physical branch presence in Michigan
- No USDA program
- Servicing frequently transferred; mixed post-close reviews
The full picture on Citizens Bank
Citizens occupies the sensible middle of the Michigan market. It's a large Northeast-and-Midwest regional bank that writes mortgages here mostly online and by phone rather than through a dense lobby network.
Courting depositors
Relationship pricing rewards customers who keep balances at Citizens, and the digital application moves cleanly enough for a straightforward purchase.
Honest caveats
Physical branches are scarce across Michigan, there's no USDA program for rural buyers, and servicing is frequently transferred after closing.
Post-close reviews run uneven. Citizens is a reasonable, middle-of-the-road choice, but it rarely gives a Michigan buyer a reason to switch.
Loan programs at Citizens Bank
Which core Michigan loan types Citizens Bank offers, with the typical minimum down payment for each program. Program floors are industry standards — Citizens Bank's own minimums or credit overlays may run higher.
| Loan program | Offered | Typical min. down |
|---|---|---|
| Conventional | ✓ Yes | 3% |
| FHA | ✓ Yes | 3.5% |
| VA | ✓ Yes | 0% |
| USDA | — No | — |
| Jumbo | ✓ Yes | 10–20% |
| Construction | — No | — |
Where Citizens Bank's credit bar sits
Citizens Bank's roughly 620 minimum sits in the good credit range. Below, that 620 floor is plotted against the four broad credit tiers and the 620 median for the 55 Michigan lenders we track.
| Citizens Bank | Michigan median* | |
|---|---|---|
| Editorial score | 3.8 / 5 | 4.0 / 5 |
| Min. credit score | 620 | 620 |
| Loan programs offered | 4 | 5 |
| Michigan-headquartered | No | — |
*Median across the 55 Michigan lenders in our catalog.
Compare: NBKC Bank Old National Bank Mr. Cooper This week's Michigan rates
Citizens Bank: frequently asked questions
What credit score do you need for a Citizens Bank mortgage?
Citizens Bank generally looks for a credit score around 620 on its most common loans. Its FHA loans can go lower — often to 580, or 500 with a larger down payment — while conventional and jumbo loans usually want higher scores. That 620 is a floor, not a promise: every lender layers on its own overlays, and approval still turns on your income, debts and the property.
Will Citizens Bank sell my mortgage after closing?
Possibly. Borrowers report that Citizens Bank frequently transfers servicing after closing, so the company you pay may change even though your loan terms don't. That's common industry-wide, but if keeping one servicer matters to you, ask before you lock.
Independent and unpaid — Citizens Bank did not pay for placement. How we score every lender (and where our rate data comes from) is set out in our editorial policy. Figures reflect public information as of 2026-07-16 and can change; the only rate that binds a lender is a written Loan Estimate. Verify the license at NMLS Consumer Access (#433960). MSHDA status reflects the state's MI Home Loan lending-partners list dated June 12, 2026, which changes over time.