mortgage advice

philnpat · 10-06-2009, 12:26 PM

Hello all!
We'll be coming down next week for our 2nd visit from upstate NY (where it's windy and cold)...any advice on who we should see for mortgage information? We'll be looking at new and pre-owned.
Thanks,
Phil and Pat

hfivo · 10-06-2009, 02:04 PM

I would go to Citizen's Mortgage.. Connected with Citizen's Bank. They are competitive, know TV well as they are a Villages company and are extremely easy to work with.

Hfivo

ijusluvit · 10-06-2009, 02:04 PM

It would be very easy for you to just walk into any Citizens bank, (they are everywhere) and talk about a mortgage. However, you will pay yourself a handsome hourly wage if you shop around. Good luck!

ps - you are also smart to look at pre-owned as well as new homes. You will learn so much new stuff that the more open minded you are enow the better off you will be later. It can take time and patience, but you will be glad you put in the effort.
Finally, this website can answer every possible question you might have about The Villages, starting with the forum called Nuts & Bolts, near the bottom of the home page.
Good Luck! If you end up here it will be the best decision you will have ever made!

DDoug · 10-06-2009, 02:45 PM

Actually Citizens First Wholesale Mortgage is not owned by the bank but is owned by the holding company and a phone number you may want to call to help you with questions is 352 259 8089 tell them you have some questions or even set up an appointment with them while you are here. Always go to the person can say yes dont bother with anyone inbetween.

elevatorman · 10-06-2009, 04:06 PM

We used Citizens First Wholesale Mortgage they were competitive when we were looking for a mortgage. If you use them the paperwork is all taken care of and is seamless. You just show up for settelment and sign on the dotted lines. When you put your downpayment on your new home, you are given a settelment date. If you can not settle on the date given you loose any discounts you were promised. The other mortgage companies could not guarantee they would make the date. Citizens First Wholesale Mortgage will make the date and you can settle by mail if needed. We have been here since June 18, 2009 and wish we were here years ago. Good Luck!

philnpat · 10-06-2009, 08:23 PM

Thanks for your help...I spoke with Citizen's a short while ago and got pre-approved over the phone...next week can't come soon enough!...it's cold here!
Thanks again,
Phil and Pat

billcolley · 10-06-2009, 10:43 PM

Hi,

I am in the process now of get a mortgage for my house being built in the Village of Hemingway. I received a quote from Citizens when I was there at the end of August. My bank here in Colorado beat Citizens quote easily, but I foun and even better quote online and was able to lock in for 60 days. I close on Nov 13th. I am locked in at 4.625% + 1 point. While Citizens had me at 5.25% at the best. My Wells Fargo Bank could get me 4.875%.
Your best bet if you are wanting to save money is check around. If you are interested in the easiest way then go with Citizens.

RayB · 10-07-2009, 05:45 AM

It is interesting to read of the mortgage rate variance presently being experienced. I just refinanced my home in The Villages with Insight Financial Credit Union at a rate of 4.35 percent with no points. I did a lot of shopping before committing to a refinance and found a big difference in rates, closing cost, and points. Insight was by far the lowest. Citizen Mortgage which held my previous mortgage, was the highest in points, rate and closing costs. One major drawback with Insight was the extreme wait time between the time I applied and the closing date. I applied first of April and just closed end of August. Insight locked in the rate for this entire time due to the extremely high volume they experienced with new business. I understand this is generally the experience with all mortgage companies according to some articles I have read. This might be a warning to someone who is shopping for a mortgage and has a deadline for a closing date. Because Citizen Mortgage is owned by the developer, they are not going to delay a mortgage on a new or used house the developer is selling.

Army Guy · 10-07-2009, 07:18 AM

When we thought we needed a loan, we looked at CFB, the ONLT problem is they only do conventional loans. No VA, etc. To me that was a downer since a VA loan is one of the best military "perks".
Otherwise they were very nice to work with, and felt bad after all the time they put in for us, that we didn't need the loan.

Army Guy

Xavier · 08:50 AM

Quote:

Originally Posted by philnpat

Hello all!
We'll be coming down next week for our 2nd visit from upstate NY (where it's windy and cold)...any advice on who we should see for mortgage information? We'll be looking at new and pre-owned.
Thanks,
Phil and Pat

We used Citizen's First Wholesale Mortgage as well. We found the rate to be VERY competitive. It's a class operation and very streamlined. Bob Cree was our representative. He's a former upstater - Ithaca I think.

What part of upstate NY are you from? We're from the Elmira area.

As someone said earlier - The Villages is the best move you'll make.

Johncancook · 10-07-2009, 08:26 AM

I walked in to Citizen's in Sumter Landing on Monday and met Bob Cree, one of their loan officers. We had previously traded emails. About a month ago, he pre-approved me and quoted me a rate of 5.375%. However, they base their rates on the bond market which fluctuates daily and on Monday he was able to lock me in at 4.875% with 0 points. To top it off, I found their closing costs to be very reasonable. Also, I'm closing on 10/30 - by mail - which will make the move so much easier. I hope this helps.

philnpat · 10-07-2009, 01:49 PM

We're from Clifton Park...just south of Saratoga

Bob S · 10-07-2009, 02:29 PM

They must give all upstaters to Bob Cree! He was my agent as well when we closed in June.

ditzyfitzy · 10-10-2009, 05:03 PM

I would NEVER use Citizens....aren't they OWNED by The Villages?

When I bought down here a year ago--I started with Citizens--because that is who your realtor will ASSUME that you want to use. I did my homework, however--and it turned out that Citizens could NOT compete or come even close to what was being offered from a mortgage broker. When I told them what was being offered to me...one of the manager's at Citizens asked me to fax over my good faith estimate--to see if there were any "loopholes" in it. There were none--and they said that they could not compete. I am talking about at least two percentage points---which is NOT peanuts.
My closing went very smoothly---even though I did not use Citizens.

Lynn

Xavier · 10:42 AM

Two percentage points? REALLY?

Using my credit score I can't (and couldn't) find anywhere in the nation that has that kind of spread. Two percent is HUGE. We've got to be talking paying points or something.

mortgage advice

Footer