A mortgage loan is a type of secured loan you can apply for when you want to purchase a home or property but do not have sufficient funds to pay for it upfront. Citibank offers multiple mortgage options to cater to your diverse mortgage-related requirements. You can explore these options and apply for mortgage loans from Citibank to enjoy a host of benefits, such as competitive interest rates and faster repayment options.
Keep reading to find out how to apply for a Citibank mortgage loan and experience a seamless loan disbursal process.
Steps to Apply for a Citibank Mortgage
Here are the steps to apply for a Citibank Mortgage:
Step 1: Submit an online enquiry
First, you need to submit the online enquiry form. Upon submission of the form, Citibank’s mortgage sales manager will contact you within 1 business day to learn more about your query.
Step 2: Loan application
Next, you need to fill up the mortgage application form and submit the required documents to Citibank to initiate the mortgage process.
Step 3: Property valuation
Upon receipt of the mortgage loan application, Citibank will arrange for a valuation of the property you wish to purchase.
Step 4: Loan assessment
Next, Citibank will assess the property valuation result, along with your repayment ability, and prepare your mortgage terms accordingly.
Step 5: Loan approval, disbursement and repayment
Upon successful approval of your mortgage, Citibank will then initiate the following steps:
- The confirmation letter with the mortgage is signed, and then Citibank sends the instruction letter to the corresponding solicitor firm to prepare the mortgage deeds.
- Once the signing of the necessary contracts is completed, the solicitor firm notifies Citibank.
- Citibank then transfers the approved mortgage amount to the seller’s solicitor firm to complete the transaction.
- Finally, Citibank will share a copy of the repayment schedule with you. The repayment schedule will contain information on loan details such as monthly instalments, interest and the outstanding balance.
Before applying for a Citibank mortgage , you can check your eligibility criteria and use various tools, such as the Online Property Valuation tool and the Mortgage Calculator. The Online Property Valuation tool offers up-to-date market and mortgage information when you enter the desired property details so you can know your property’s approximate value. The Mortgage Calculator helps you get an estimate of your monthly payment and interest expense. To learn more about the mortgage loan and its terms and conditions, you can visit the official Citibank Hong Kong website.
Citibank Hong Kong
Citibank Hong Kong offers consumers and institutions a range of financial products and services, including consumer and investment banking, credit cards, and personal loans. Citibank Hong Kong aims to deliver holistic and innovative solutions to clients and meet the increasingly complex strategies of its regional client base in the APAC in an ever-changing financial landscape.
The content reflects the view of the article’s author and does not necessarily reflect the views of Citi or its employees. Please read the products and offers on Citibank Hong Kong’s website for accuracy or completeness of the information presented in the article.