Quote:
Originally Posted by Tom52
OP here again, should have mentioned we will only be looking at existing homes. Does Citizens First also handle mortgages on existing homes since they are owned by the developer?
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By existing home do you mean a pre-owned home, i.e. not a new home sold by the developer?
Citizens is just a bank an will make loans on both new homes and pre-existing homes.
As far as being pre-approved I don't think that matters much on a new home... but keep in mind once you sign on the dotted line you will have to close in 30 days an pay some pretty big penalties. If you cancel you won't get your earnest money back but might be able to apply it to another new home.
When we came down to buy we did not get pre-approved and all the we need to do was give a check with the earnest money for a new home to seal the deal.
For a resale, that is not a new home, being pre-approved will probably give you a better chance of having your offer accepted so if you are looking for a resale getting pre-approved is a good idea but not necessary.
Citizens bank is one of the few banks around here that you can depend on closing in 30 days. By the way Citizens Bank is owned by The Villages.