Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#1
|
||
|
||
Mortgages in The Villages
My wife and I are purchasing a home in the Villages and our sales rep suggested we use Citizen Bank for a mortgage. He said almost everyone who gets a mortgage uses Citizen.
Has anyone used a bank/financial institution other than Citizen for their mortgage? Did you get a lower interest rate or lower closing costs? Any advantages to usein Citizen vs. another institution? Any help you can give us would be appreciated. |
|
#2
|
||
|
||
We're purchasing a new home. In our contract, there is no mortgage contingency. So if the mortgage is late and you have to move your closing date, you could have some issues. We did choose Citizens Mortgage. They have been excellent to work with so far. Our closing is 10/12. Our rate was higher than what I could have gotten somewhere else. The do 100's, if not 1000's of the closings in The Villages. If I was buying a resale or had a contract with a mortgage contingency, I would have gone for the lower rates and another bank. But peace of mind is worth the little xtra to me.
__________________
Al and Kim Village of Fernandina |
#3
|
||
|
||
If I remember correctly Citizens is part of The Villages operating company so no surprise that a sales rep is going to try to send you to them. We initially wanted a small mortgage but found the demands of Citizens for documents a bit too much and ended up going elsewhere. From what I hear from our friends that do have a mortgage my guess is that about half took out a mortgage with Citizens.
|
#4
|
||
|
||
I used SunTrust for my first new home in The Villages and Countrywide for my second new home. They both went off without a hitch. Don't be coerced into paying a higher rate for thirty years, amouting to thousands of extra dollars, because of the time constraints. Mortgage documents are transmitted electronically nowadays, so other banks can provide just as timely service as Citizens.
|
#5
|
||
|
||
We used Bank of America which had the best deals around that we could find. We had initially wanted to use Third Federal from over in Pasco County but they can only loan in Sumter and Lake but not in Marion. They were great to work with and real quick. Unfortunately the house we purchased was in Marion County so had to go with Bank of America.
|
#6
|
||
|
||
When we bought in 2006, we ended up with Citizen's due to time constraints, and I didn't have the "warm fuzzies" that the paperwork would get processed in time. I forgot what the penalty was at the time, but we were guaranteed on time closing with Citizen's so we took the "sure thing".
__________________
"Kindness is more important than wisdom, and the recognition of this is the beginning of wisdom." - Theodore Rubin |
#7
|
||
|
||
When we bought in 2006, Citizens was a full 1.25% higher than our bank up north. We chose to use our bank with the lower rate. We took a 25 year with the option of weekly payments taken directly from our checking which, in reality, makes it a 14.5 year mortgage.
__________________
New Jersey, TV |
#8
|
||
|
||
The Villages and Citizens are working together....The one thing Citizens has that is super convieniant for a part timer is you can go online and cut a check to another villager and they will cut it and send it absolutley free...
|
#9
|
||
|
||
They R quoting 3.5% now, closing cost about 4K
__________________
Nova Water filters |
#10
|
||
|
||
Citezens rate always runs a little higher. Get the bargain, because its for years!!
|
#11
|
||
|
||
Mortgage bank
Quote:
Their rates are move competitive than Citizens i.e. on the website they are 3.375% this morning for a 30 yr. I have compared since Feb 2012 and they are consistently better than Citizens and the closing fees are less as I have the truth and lending statments from both. It always pays to do your homework. Ond good thing from Citizens, they sent my wife and my credit score to us. |
#12
|
||
|
||
I'm pre-approved for a Chase mortgage....3.625% and 1% back each year of mortgage/interest payments....I'm not sure if this is the best deal...but, pre-approved is pre-approved and it makes buying easier....see ya as of Monday! Wooo!
__________________
________________ R.I.P. Gary...you will be sorely missed When the going gets weird, the weird turn pro. Hunter S. Thompson |
#13
|
||
|
||
Every time I see threads about Citizens I get a little riled. I for one took their higher rate because I could not be present at closing. I expected the bank to do a competent job. They did not. I had so many problems with their failures to get things right and on time that eventually one of their VPs called me and apologized.
That and a dollar may get you a cup of coffee. |
#14
|
||
|
||
I was highly pleased with Citizens Mortgage. They gave me a great deal, and since the mortgage deal was so good, I also went with Citizens for my local checking and savings accounts. No regrets whatsoever. I suggest you talk to them before deciding. It never hurts to shop around.
|
#15
|
||
|
||
And they can mess up too
Quote:
__________________
Al and Kim Village of Fernandina |
Closed Thread |
|
|
|