What is Citibank Mortgage Payment Address?

Question:  What is Citibank Mortgage Payment Address? Answer: The Citibank Mortgage Payment Address is: CitiMortgage, Inc. P.O. Box 78015 Phoenix, AZ 85062-8015 Please write your mortgage loan number on your check.   If you wish to use an overnight delivery service (FedEx, UPS, etc), please use the following address: CitiMortgage, […]

How do I get Citibank Mortgage Tax Statement?

Question:  How do I get Citibank Mortgage Tax Statement? Answer: If you have a Citibank Mortgage, Citibank sends out Mortgage Tax Statement or Form 1098 around January or February of the year.  The Mortgage Tax Statement can be used to lower your taxable income for people that qualify for itemized […]

What is Citibank Mortgage Phone Number?

Question: What is Citibank Mortgage Phone Number? Answer:  The telephone number for Citibank Mortgage is 1-800-283-7918. Citibank Mortgage Customer Service Hours are Monday – Friday: 8:00am – 10:00pm (EST) Saturday: 8:00am – 6:00pm (EST) Sunday: Not opened or visit CitiMortgage website at www.citimortgage.com.  With Citibank online access, you can view your […]

What is Mortgage Closing Cost?

Question: What are Mortgage Closing Costs? Answer: Mortgage closing costs are money that are paid by the borrower to effect the closing of a mortgage loan. Mortgage closing costs typically includes an origination fee (usually paid to bank or mortgage company) mortgage points title exam title insurance survey attorney’s fees prepaid […]

What is Mortgage Basis Points?

Question: What is Mortgage Basis Points? Answer: Mortgage basis points (bps) is one one-hundredth of one percent. For example, 5½ basis points equal 0.055 percent or 0.00055.  One hundred basis point is 1.0 percent or 0.01. All mortgage are quoted as basis points or percentage rates.

What is Balloon Mortgage?

Question: What is Balloon Mortgage? Answer: A mortgage that has level monthly payments that would fully amortize it over a stated term, but which provides for a lump-sum payment to be due at the end of an earlier specified term. An example of a balloon payment mortgage is the 7-year Balloon Mortgage, […]

What is Mortgage Amortization Schedule?

Question: What is Mortgage Amortization Schedule? Answer: A timetable schedule for payment of a mortgage that shows the amount of each payment that should be applied to interest and principal and the remaining unpaid principal balance after each payment is applied. A sample of Mortgage Amortization Schedule is shown below.  A 30-year […]

What is Mortgage Accrual Rate?

Question: What is Mortgage Accrual Rate? Answer: The mortgage rate at which interest is calculated. For a particular remittance date for an Mortgage Back Security (MBS) pool, it is the mortgage interest rate due under the terms of the mortgage note during the period beginning on the second day of the month […]

What is Adjustable Rate Mortgage?

Question: What is Adjustable Rate Mortgage? (ARM) Answer:  A mortgage loan that permits the lender to periodically adjust the interest rate on the basis of changes in a specified index. The mortgages usually have a fixed rate for a certain number of years after which fluctuates based on the US […]