The Citibank HomeRun™ loan program is a low down payment mortgage program offering affordable monthly payments and flexible credit guidelines to help make buying a home more affordable. This program is only available in certain regions and income limitation may apply. Reach out to your local Citi specialist to see if your region qualifies.

Citi’s HomeRun™ program is part of its commitment to community investment and development. By providing more accessible home financing options, Citi helps foster community growth and stability. The program accepts lower down payments and no private mortgage insurance, removing two of the biggest roadblocks to ownership.

What’s even better? The HomeRun™ program is available whether you’re buying a home or refinancing your current home mortgage.

As with all home loans, there are a few requirements you’ll need to meet. Here’s a good overview of the HomeRun™ loan program.

HomeRun™ mortgage limits

With a limit of $766,550 in most regions and up to $1,149,825 in Alaska, Hawaii and some other higher-cost areas, you’ll have plenty of leeway to shop around. Of course, your exact limit will depend on your full financial status.

HomeRun mortgage interest rates

The HomeRun™ home loan has a fixed interest rate that is competitively priced with the market. For more information on this, you can reach out to a Citi specialist for details.

HomeRun™ mortgage down payments

Cue the happy dance. A HomeRun™ mortgage allows you to make a down payment of as little as 3% and allows gift funds and down payment assistance from your local state, county or city. Here are a few more details on how down payments work for each property type:

Single-family homes

• As little as 3% down is required on single-family homes with loan amounts up to $766,550 (and up to $1,149,825 in Alaska or Hawaii).
• As little as 5% down is required on single-family homes in certain high-cost markets where the maximum loan amount is $1,149,825.
• Your contribution to the down payment can be as little as 1% on loan amounts of up to $766,550 (up to $1,149,825 in Alaska or Hawaii). The rest can come from gifts or other sources, but it will be subject to certain conditions.

Condos and CO-OPs

• As little as 3% down is needed to finance a condo or CO-OP.
• The maximum loan amount is $766,550, except in Alaska or Hawaii or certain high-cost markets where the maximum loan amount is $1,149,825.

HomeRun™ mortgage insurance

The Citi mortgage HomeRun™ loan program does not require PMI for down payments less than 20%—that’s right, zero PMI—a pretty great perk if you’re looking to put less down upfront.

Typically, homeowners who put less than 20% down are required to have private mortgage insurance (PMI). This mortgage insurance cost is 0.5% to 6.0% of the loan amount and is added to the monthly payment.

HomeRun™ mortgage credit score

Citi will review your whole financial story when running credit for a home loan. Of course, the higher the score, the better, but HomeRun™ has flexible eligibility requirements that consider consumers whose credit isn’t perfect. Credit scores are important, but for lower scores that don’t quite hit the mark, there are plenty of factors that can work in your favor, from your employment history to all those on-time rent payments.

HomeRun™ mortgage DTI

The HomeRun™ Mortgage program considers debt-to-income ratios of up to 50%, which is more than the standard ratio of 43%. Let’s take a look at an example of DTI. If your monthly gross income is $3,000, and the DTI ratio is 43%, that means you can allocate up to $1,290 of your monthly income to debt payments, including your mortgage. This DTI limit is pretty standard with the many other mortgage programs that offer low or no down payment options. But with the HomeRun™ DTI cap of 50%, you may have more wiggle room in your budget.

HomeRun™ mortgage income requirements

The HomeRun™ program is available in certain Citi-identified regions. If the property you’re eyeing is in one of these regions or your income is no more than 20% above the median income for that area, you may be eligible for the HomeRun™ Mortgage program.

How is a HomeRun™ mortgage different from other loans?

It’s different in all the best ways and Citi will be there to partner with you from the very start. Here’s what a HomeRun™ mortgage delivers: Lower upfront costs, competitive interest rates, simpler credit guidelines and zero mortgage insurance

HomeRun Mortgage vs. FHA Loan

Interested in a HomeRun™ Mortgage? Start by submitting your details to Citi for preapproval. Don't worry, getting preapproved doesn’t mean you’re committed—it simply means you can confidently browse open houses knowing you have a solid backing to lend.