Citibank Fixed 3 Years

Citibank’s 3-Year Fixed Rate home loan is just one of several fixed rate lending options available by the company. It is a Standard Fixed Rate product that comes with a fixed-rate period during which the interest rates remain the same. This aspect makes the loan a great option if you want some financial security when you start paying for your house.

As the name implies, this fixed rate loan has a term lasting for three years. Once the time is up, the loan will be under the Standard Variable Rate.

Other benefits round out Citibank’s fixed rate loan making it a good pick for homebuyers. For example, you can set your rates prior to receiving financing by using a rate lock. It is a free 60-day lock.

KEY BENEFITS

The CITI 3-Year Fixed Rate home loan has the following features:

Interest Only Term

This interest-only period allows you to pay only interest on your mortgage for up to five years. Once the period expires, you must pay regular interest and principal each month.

Extra Payments Available

You will not have to pay a penalty for paying extra on your mortgage if you do not go beyond $1,000 each month.

Ability to Split Loan

By splitting a loan, you divide the balance between two styles of loan rather than one. This means you can use the key benefits of both for the same property.

Portability

You can move the loan with you if you’ve made the decision to sell the existing property of get something else.