Lending Services

A Mortgage From Citibank ♦ Interest-Only Mortgage

An "interest-only" mortgage lets you pay only the interest portion of the loan for a fixed period. In many cases, there is also a lower after tax cost since the entire monthly payment will generally be tax deductible as mortgage interest during the "interest-only" period. You should consult with your tax advisor regarding your own situation.

Start the process now.

When used wisely, borrowing can be beneficial to total wealth management. A Smith Barney relationship does not have to be established or maintained to obtain the products or pricing offered as part of the Smith Barney Home Loan Program at Citibank. Home equity programs not available in AK.

A default (stopping monthly payments) on a mortgage could result in the loss of pledged real estate, securities or both.

Smith Barney policy does not permit clients to use the proceeds of a home loan to invest in the securities or related markets. Your Financial Advisor may receive compensation in connection with this lending program. Affiliates of Smith Barney may earn fees in connection with the funding, origination, and sale of a loan.

For the 3-, 5-, 7- and 10-year interest-only payment option, when the fixed interest-only period ends, your rate and payments will be subject to annual adjustments for the remainder of the loan term which may result in higher monthly payments at that time. With the 1- and 6-month interest-only loan, your interest rate can increase and monthly payments can increase every one or six months. For all interest-only loans monthly payments will generally increase when the interest-only period ends because you will be repaying principal and interest over the remaining loan term. On a six-month interest only loan, if you prepay principal during the first ten years, your required monthly payment may include some principal until your next six-month adjustment.

All home loans/lines are made by Citibank, N.A., or CitiMortgage, Inc., equal housing lenders, and are subject to Citibank and CitiMortgage's mortgage qualifications. CitiMortgage does business as Citicorp Mortgage in NM. In CT and NJ, Citigroup Global Markets Inc. is the BROKER ONLY, NOT THE LENDER. Citigroup Global Markets Inc. is a registered mortgage broker, NYS Banking Department. In AZ Citigroup Global Markets Inc. is a licensed Mortgage Broker (Lic. No. 0903067). Citigroup Global Markets Inc., Citibank, N.A, and CitiMortgage, Inc., are subsidiaries of Citigroup Inc.

Investments held at Smith Barney are not FDIC insured, not bank guaranteed and may fluctuate in value incluing loss of principal

For more information, please contact your Financial Advisor.

♦ About Us ♦ Institutional Services