[nn0wheremann]

Originally Posted by biggamefish1

Title Insurance is an unnecessary option if you buy directly through the Villages.

Famous last words.

[SoCalGal]

Navy Federal Credit Union membership requirements
Membership Eligibility | Navy Federal Credit Union

[SoCalGal]

Originally Posted by Toymeister

With a donation to charity you qualify for membership to PenFed and you might already qualify for Navy Federal.

You don't need to donate to charity to qualify for PenFed.

https://home.penfed.org/help/s/artic...f%20membership.

[Biskopski]

Third Federal Savings out of Ohio is licensed to lend in Florida. They have an office near Tampa but you can do everything online and also be assisted by very accommodating loan assistants. If you need the loan for short term they have a wonderful adjustable rate and the loan product charges a loan fee of $395 total. And I mean total!! No gimmicks. Google them for the rates and programs.

[oldtimes]

I have been unsuccessful googling to find a site that lists not only rates but fees. Does anyone know of one?

[Mcnuke]

Citizens Bank offers a 0.25% Veteran discount on their mortgage rates. Other Mortgage Fees were reasonable.

Requires being a Veteran and opening a Citizens Bank account- I put $20 in to satisfy requirement.

[CoachKandSportsguy]

does it really matter? mortgages are pretty generic unless you are looking for something special.
We used citizens first the local bank, as it was planned to be paid off either when we moved down, or earlier, and earlier happened.

Went local due to buying a new build, and didn't want any issues. they took the electronic payment every month, and never had to visit them or call them, once the house was purchased.

[oldtimes]

Originally Posted by CoachKandSportsguy

does it really matter? mortgages are pretty generic unless you are looking for something special.
We used citizens first the local bank, as it was planned to be paid off either when we moved down, or earlier, and earlier happened.

Went local due to buying a new build, and didn't want any issues. they took the electronic payment every month, and never had to visit them or call them, once the house was purchased.

It matters if you are going to be paying it for the next 30 years. Rates make a big difference in the monthly payment.

[CoachKandSportsguy]

Originally Posted by oldtimes

It matters if you are going to be paying it for the next 30 years. Rates make a big difference in the monthly payment.

not disagreeing with that, BUT that was not the question, the question was which bank had the lowest at the moment.

1) anyone can shop on a price basis, and going into retirement, the lowest rate, regardless of one time fees, is the best, given limited income growth opportunities, lower future payments are best.

2) the servicing of the mortgage is the commodity, who cares which bank

3) if the house purchase is temporary until relocating in the near future, the difference in cost to you is marginal between many mortgage originators' rates.

4) mortgage rates change frequently at the moment, will always depend upon the week of searching. So one may get the lowest rate this week, but next week, someone else may have a lower rate. . . but much? probably not, and at the end of the day, one can only lock in a rate for a specific period.

We missed the absolute low rates by a week when we refinanced, and didn't take the lowest rate, but the one with the quickest easiest cheapest paperwork to complete as the rate impact cost to us would not be for 30 years at the prevailing rates.

So if you can't purchase a house you want within the time period of the rate lock, you are starting all over again. . . with maybe a different bank given the new rates. .

So its less about the which bank/originator TODAY , which was the question, and more about the time of purchase and the current mortgage rate at the time of lockin prior to close within the lockin period.

.good luck to the OP

[oldtimes]

Originally Posted by CoachKandSportsguy

not disagreeing with that, BUT that was not the question, the question was which bank had the lowest at the moment.

1) anyone can shop on a price basis, and going into retirement, the lowest rate, regardless of one time fees, is the best, given limited income growth opportunities, lower future payments are best.

2) the servicing of the mortgage is the commodity, who cares which bank

3) if the house purchase is temporary until relocating in the near future, the difference in cost to you is marginal between many mortgage originators' rates.

4) mortgage rates change frequently at the moment, will always depend upon the week of searching. So one may get the lowest rate this week, but next week, someone else may have a lower rate. . . but much? probably not, and at the end of the day, one can only lock in a rate for a specific period.

We missed the absolute low rates by a week when we refinanced, and didn't take the lowest rate, but the one with the quickest easiest cheapest paperwork to complete as the rate impact cost to us would not be for 30 years at the prevailing rates.

So if you can't purchase a house you want within the time period of the rate lock, you are starting all over again. . . with maybe a different bank given the new rates. .

So its less about the which bank/originator TODAY , which was the question, and more about the time of purchase and the current mortgage rate at the time of lockin prior to close within the lockin period.

.good luck to the OP

Yes, good point. I am new to this and appreciate all of the helpful replies.

[Craig Vernon]

Originally Posted by Biskopski

Third Federal Savings out of Ohio is licensed to lend in Florida. They have an office near Tampa but you can do everything online and also be assisted by very accommodating loan assistants. If you need the loan for short term they have a wonderful adjustable rate and the loan product charges a loan fee of $395 total. And I mean total!! No gimmicks. Google them for the rates and programs.

Third Federal is as efficient as any lender when it comes to mortgages and has exceptional rates and service. Worth a look online!

[ltcdfancher]

Originally Posted by vintageogauge

On new homes but not resales

Can someone elaborate on this idea? It seems that every resale was-at one time-a new home. Another comment within this thread suggests title insurance is NOT necessary for new home sales. Why?

As we are barreling towards a closing date on a newly-constructed home, the title insurance company has found a blemish. Our parcel cannot be the only one that might be encumbered, can it?

[BrianL99]

Originally Posted by biggamefish1

Title Insurance is an unnecessary option if you buy directly through the Villages.

That is an all-time bad advice comment. There's nary a Lawyer in the USA who would agree with you.

[Normal]

Originally Posted by ltcdfancher

Can someone elaborate on this idea? It seems that every resale was-at one time-a new home. Another comment within this thread suggests title insurance is NOT necessary for new home sales. Why?

As we are barreling towards a closing date on a newly-constructed home, the title insurance company has found a blemish. Our parcel cannot be the only one that might be encumbered, can it?

When you buy title insurance they research for past owners and possible liens against a home in its previous circumstances. New Builds don’t have a history yet. That is unless ancient seminoles all of a sudden claim the land your new home is on is on their land.

[Bill14564]

Originally Posted by ltcdfancher

Can someone elaborate on this idea? It seems that every resale was-at one time-a new home. Another comment within this thread suggests title insurance is NOT necessary for new home sales. Why?

As we are barreling towards a closing date on a newly-constructed home, the title insurance company has found a blemish. Our parcel cannot be the only one that might be encumbered, can it?

A Title Search should identify issues with the title. Title Insurance protects the lender or possibly the lender and you against losses if the title search missed something.

The idea being proposed is that the Developer is absolutely sure he owns the land and obviously he constructed the home so there couldn't possibly be any title issues with new construction. If there cannot possibly any issues then there is no need for insurance against issues that cannot possibly exist.

With a resale the title has changed hands at least once and some time has passed. This means there have been more opportunities for problems with the title that the title search might miss. Therefore there is more need for title insurance with a resale.

You say the title company has found a blemish on your new construction. This would certainly argue against the proposal that insurance is not needed. Would it be possible to describe the blemish so others can watch out for similar issues with their homes?