Talk of The Villages Florida - View Single Post - Do we need to be pre-approved for a mortgage?
Thread: Do we need to be pre-approved for a mortgage?
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Old 09-01-2018, 02:19 PM
birdiebill birdiebill is offline
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It is a good idea to be pre-approved if you are going to use a mortgage. If you buy a new home or villa here in the Villages, your closing must occur within a short period of time. I don't remember if it is 30 or40 days from the agreement to purchase. The developer sets the rules on new construction; no negotiation. While my only experience was with Citizens First Wholesale Mortgage here in the Villages, I know if you are approved by them, you will meet the closing deadline. This financial institution is "owned" by the developer for whatever that is worth.

If you buy pre-owned, you may be better able to negotiate a closing date and other terms. To each his/her own as to new or pre-owned.
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