[Orps1]

Has a anyone secured a mortgage with citizens first in the most recent past? What were the fixed rates?

Your comments on the mortgage process . How was your experience with their process.

[skyguy79]

Originally Posted by Orps1

Has a anyone secured a mortgage with citizens first in the most recent past? What were the fixed rates?

Your comments on the mortgage process . How was your experience with their process.

Mortgage is dependent on your personal finances and the rate goes up from what they may tell you in the beginning as the credit rating gets lower. We both had excellent scores, but still had a raise in rate to 5.375% because we weren't squeeky clean. Seems like it's mission impossible to get the greatest rate possible. So I have to say that you will get different rates from different people who got their approvals at different times. You'll only know your actual rate when you get locked into an approval. As for the experience, I'd give it an A, and I did the entire process from 1200 miles away from TV. I would recommend them!

p.s. They no longer advertise their fixed rates online. You have to call. The number is found on http://www.citizensfb.com/l_mortgages.asp

[swimdawg]

Originally Posted by Orps1

Has a anyone secured a mortgage with citizens first in the most recent past? What were the fixed rates?

Your comments on the mortgage process . How was your experience with their process.

I just locked in a rate with Citizens First about 10 days ago. C.F. advised me not to wait any longer because of the financial situation with our government. My rate is in the 4.8% range. Citizens First has been WONDERFUL to deal with. My problem was all the hoops I had to jump thru because of all the government regulations. Mortgage lending went from one extreme to the other. My credit rating was next to perfect. I could be Donald Trump and because my "only source of monthly income is Social Security", I had to PROVE I wasn't going to throw my money away. It was a nightmare....reams of paperwork. This is the 5th time I've obtained a mortgage and I'm certainly more comfortable financially than previous times........but due to government regs, it was the most difficult and painstaking process. And yes, I know, it's because of all the disastrous mortgage give-outs to people who should have never been given a mortgage to begin with. Like I said......one extreme to the other.

It's done...locked up...and I am a happy camper.....and looking forward to my closing the end of this month.

Yes, I have been very happy with Citizen's First.

[TednRobin]

We closed in late June, we got 4.75%. Both our credit scores were good, and I am still working. We had no problems and all went very smoothly. We were present for closing otherwise all was done long distance. It really helped that we have a fax machine here at home.

[rhredd1654]

Originally Posted by Orps1

Has a anyone secured a mortgage with citizens first in the most recent past? What were the fixed rates?

Your comments on the mortgage process . How was your experience with their process.

I fully intended to go with Citizens First in April, but because they dragged their feet on locking in a rate I went with another lender, which it turns out had a much better rate. Watch it though, The Villages don't make it easy if you use an outside lender. I was charged a change order fee because I didn't close on time, even it being their fault...(microwave was not installed until AFTER the original close date, so my appraiser wouldn't sign off). My recommendation is check around before committing.

[Mark1130]

I just closed on my house on July 7th. I did not use Citizens because their rate was much higher on a 30 yr mortgage and they had a higher fee for the loan. I gave them every chance to match the rates of the company I went with but they turned me down without even looking at the proposal.

I went with ERA and had no problems. They met the closing date even when I asked to move it up a day. The previous poster was right that The Villages will penalize you if you do not make the closing date. Be very careful about that.

My rate was 4.55% btw. I was very happy with that.

[natickdan]

We signed our P&S on December 12, 2010 and closed on January 12 using CFM and I was impressed with their process and our closing went off without an issue.

Their rates were competitive and if you are buying new, you must close within 30 days. CFM uses this to their competitive advantage because most banks would not guarantee a 30 closing on a new piece of property. In the end, I found them easy and responsive to work with during the application and closing process. I can't speak to the competitiveness of their current rates, but back in December their rates were competitive.

Once we sold our home in MA on 7/29, we paid of our mortgage with CFM that day and just yesterday, I received a check from them for our escrow balance with a "thank you" and a list of things I was now required to do now that CFM was no longer our lien holder.

[asianthree]

Our rate was almost a full percent lower at our bank, and closing cost were almost $2000.00 lower, but beware we closed one day late (not the fault of my bank, but the villages and we were charged $451.00 penelty for ONE DAY LATE. still saved a lot of money

[Pturner]

Charging a penalty for not closing in 30 days, in effect, making it risky to shop for a competitive mortgage, seems... unseemly to me.

Just saying.

[cgalloway6]

We bought a home in TV in April, closed July 1. We talked to Citzens about a mortgage but since we won't be moving down there for several years until I retire, it would be considered either a second home or an investment property-we'll probably rent it when we aren't there. The Citizen's interest rate in April was 5.375% for a 30 yr fixed and closing costs were $4k-6k depending if we put down 25% or 20%. Our lender at home suggested refinancing our current home and taking out the cash for the one in TV. Ended up refinancing with 3.75% 15 yr fixed, $1500 closing costs total and cash out for our home in TV.
It was a cash closing by mail for TV and Citizens was very helpful. If you open a checking account with them you can park your closing funds there until the close. We had everything done days before closing and went very smooth. Our realtor did the walk thru.

There is more risk on our current home with a higher debt but we also own a home in TV free and clear. If it gets to a crunch we can always sell one or the other.

Chuck

[tainsley]

We went to Citizens July 6 closed on August 3. We called our bank with who we always had our mortgages with but they said they could not guarantee a closing in thirty days. We locked in on 4.75 a week later about the same rate as NFCU. We were happy. We actually had to return to VA July31. Had our walk through and signed all papers before we left. All went smoothly...no complaints. Everyone we dealt with at Citizens was professional and helpful.

[Orps1]

Thank you for all of your helpful comments. You all have given me a lot to think about. Great way to exchange information.

I will be coming to TV at the end of August to finalize building plans.
Im afraid I will get the raw end of the deal with the interest rates going higher given the recent S &P downgrade and the eventual increase in consumer rates.

[IAMDMRAE]

Originally Posted by tainsley

we went to citizens july 6 closed on august 3. We called our bank with who we always had our mortgages with but they said they could not guarantee a closing in thirty days. We locked in on 4.75 a week later about the same rate as nfcu. We were happy. We actually had to return to va july31. Had our walk through and signed all papers before we left. All went smoothly...no complaints. Everyone we dealt with at citizens was professional and helpful.

i would not wait too long wherever you decide to go rates had an unexpected drop a week or so ago and 30yrs were in the 4.375-4.500 range without points on 30years. We refinanced over a year ago and got 4.750% with citizens and everything went quickly and smoothly. I probably could have gotten it a little lower on the internet but i had a bad experience with one of those companies trying to raise the rate they committed to and the fees we agreed on.they wasted a lot of my time so when they broke their word i saw that all the time they put into my mortgage was wasted too. I guess i wasted an appraisal fee but i felt much more comfortable with citizens. All i can say is do your research but do not waste a lot of time. It may be a very long time before we see such low interest rates again.

[cgalloway6]

I tried to post to this string yesterday and got a notice that it would be reviewed by the admin before showing up. It was 22hrs ago, I haven't seen the post nor received a reason it didn't show up. What gives?

[Bill-n-Brillo]

cgalloway, it's the general procedure on this forum that the administrators will review the first few posts of new members, just to ensure the posts aren't spam, etc.

Same thing happened with me when I first joined!!!

And welcome to TOTV!!!

Bill