Citizens Bank at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the C grade breaks down
Each component is a percentile rank among 412 home-equity (HELOC) lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
27th32.5% deniedPricingmedian rate spread over APOR, weight 30%
29th0.36 ptsProcesswithdrawn + incomplete share, weight 15%
55th11.6%Closing coststotal loan costs ÷ loan amount, weight 10%
36th3.67% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 126,682 | 67,520 | 35.2% | 39.2% | 8.25% | $16B |
| 2024 | 99,275 | 55,183 | 31.3% | 35.2% | 8.65% | $15B |
| 2025 | 119,620 | 68,902 | 28.7% | 32.5% | 7.50% | $21B |
What Citizens Bank lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 101,215 home-equity lines, 0 reverse mortgages, 1 manufactured homes, 1,784 investment properties.
Why Citizens Bank denies applications
Primary reason reported for each of the 34,344 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Citizens Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 14,906 | 5,381 | 57.9% |
| $50k – $100k | 33,536 | 17,924 | 37.0% |
| $100k – $150k | 24,421 | 14,793 | 28.7% |
| $150k – $250k | 23,978 | 15,740 | 23.6% |
| Over $250k | 21,110 | 14,246 | 19.8% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 571 | 277 | 37.2% |
| 25–34 | 8,722 | 4,914 | 33.1% |
| 35–44 | 21,674 | 12,944 | 30.9% |
| 45–54 | 26,608 | 16,042 | 31.2% |
| 55–64 | 28,623 | 16,841 | 32.0% |
| 65–74 | 21,721 | 11,939 | 34.0% |
| Over 74 | 11,457 | 5,701 | 37.3% |
Where Citizens Bank lends
51 states and 1,643 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| New York | 20,315 | 11,000 | 32.7% | 7.97% | #1 |
| Pennsylvania | 18,256 | 10,441 | 28.1% | 7.65% | #2 |
| Massachusetts | 17,476 | 10,235 | 29.0% | 7.40% | #1 |
| New Jersey | 12,113 | 7,208 | 28.9% | 7.40% | #4 |
| Ohio | 7,775 | 4,732 | 24.3% | 7.65% | #10 |
| Michigan | 6,592 | 3,697 | 29.0% | 7.65% | #7 |
| Rhode Island | 6,329 | 3,762 | 27.8% | 7.40% | #1 |
| New Hampshire | 4,969 | 3,194 | 24.3% | 7.40% | #1 |
| Connecticut | 4,895 | 3,030 | 26.2% | 7.40% | #2 |
| Florida | 4,674 | 2,297 | 34.7% | 7.90% | #45 |
| Virginia | 1,634 | 994 | 24.4% | 7.65% | #52 |
| Delaware | 1,633 | 972 | 29.3% | 7.65% | #3 |
| North Carolina | 1,624 | 931 | 27.5% | 7.40% | #60 |
| Maryland | 1,457 | 745 | 32.8% | 8.40% | #40 |
| Georgia | 1,222 | 669 | 30.6% | 7.90% | #77 |
| South Carolina | 1,040 | 603 | 26.6% | 7.40% | #57 |
| Tennessee | 1,011 | 579 | 27.8% | 7.90% | #65 |
| Illinois | 832 | 454 | 29.8% | 7.40% | #89 |
| Vermont | 826 | 397 | 38.9% | 7.65% | #5 |
| California | 779 | 589 | 6.4% | 5.75% | #196 |
| Indiana | 676 | 362 | 28.4% | 7.90% | #94 |
| Kentucky | 520 | 297 | 26.2% | 7.90% | #79 |
| Maine | 412 | 255 | 22.8% | 7.40% | #41 |
| Minnesota | 332 | 189 | 29.5% | 7.90% | #107 |
| Alabama | 317 | 170 | 29.3% | 8.15% | #117 |
| Nebraska | 290 | 188 | 17.9% | 6.88% | #58 |
| Arkansas | 216 | 109 | 28.2% | 7.65% | #106 |
| District of Columbia | 192 | 92 | 35.4% | 7.20% | #21 |
| Texas | 187 | 121 | 11.2% | 6.38% | #428 |
| South Dakota | 143 | 81 | 23.1% | 6.88% | #45 |
| Iowa | 123 | 70 | 26.0% | 6.64% | #135 |
| Oklahoma | 104 | 51 | 19.2% | 8.15% | #179 |
| Missouri | 77 | 45 | 13.0% | 6.38% | #299 |
| Wisconsin | 72 | 52 | 8.3% | 6.31% | #296 |
| Colorado | 71 | 42 | 14.1% | 6.25% | #261 |
| Mississippi | 69 | 39 | 14.5% | 6.50% | #151 |
| Arizona | 46 | 23 | 19.6% | 6.50% | #323 |
| Washington | 46 | 27 | 8.7% | 6.13% | #301 |
| Oregon | 45 | 35 | 4.4% | 6.63% | #240 |
| Nevada | 43 | 20 | 25.6% | 6.08% | #219 |
| Utah | 35 | 20 | 17.1% | 5.63% | #206 |
| Idaho | 31 | 16 | 12.9% | 6.06% | #192 |
| Louisiana | 27 | 12 | 18.5% | 6.31% | #296 |
| West Virginia | 26 | 17 | 11.5% | 6.38% | #183 |
| Kansas | 19 | 15 | 5.3% | 6.50% | #303 |
| New Mexico | 19 | 9 | 15.8% | 6.50% | #205 |
| Montana | 14 | 10 | 0.0% | 6.25% | #161 |
| Hawaii | 6 | 2 | 50.0% | 7.28% | #186 |
| Wyoming | 5 | 2 | 40.0% | 7.90% | #187 |
Frequently asked questions
Citizens Bank denied 32.5% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 27th percentile of home-equity (HELOC) lenders.
The most common reason Citizens Bank gave in 2025 was "debt-to-income ratio", cited on 56.3% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans Citizens Bank originated in 2025 was 7.50%, and its median rate spread over the average prime offer rate was 0.36 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 14% of its applications were for home purchases, 33% for refinancing (including cash-out), and 53% for home improvement or other purposes. By loan type: 99% conventional, 1% FHA, 0% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.