This is what I see in our neighborhood. Out-of-state banks double or triple the length of time till closing, turning the 30 days Citizens and McLin & Burnsed do into 60 or 90 days....bad for a seller.
What seller wants to wait 90 days to get their money, especially when they are moving and have bought or are planning to buy another home with the proceeds of the sale?
Citizens does a good job with good rates and they close on time, in 30 days.
Another lender we met told us that when it's a second home you're buying, it is treated as an "investment" home and the rates for that are higher than for one's primary home loan. Not sure if that's the way it is or if it's the reason why some are getting a higher rate, but it's worth finding out about it.
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