U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Raleigh, Durham, Chapel Hill, Cary
 [Register]
Raleigh, Durham, Chapel Hill, Cary The Triangle Area
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 09-03-2009, 11:01 AM
 
832 posts, read 2,445,847 times
Reputation: 532

Advertisements

Did anyone who bought/build a house through Centex every used their financial division to secure a mortgage loan? If you did, how do you find them in that area?

Just a though as I started to look at everything and anything that would enable me to get the best interest rate out there.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 09-03-2009, 11:24 AM
 
Location: Raleigh, NC
12,451 posts, read 30,237,370 times
Reputation: 9377
I've had many buyers use CTX Mortgage.

Your incentives and closing costs MAY be tied to you using them.

Sometimes their rate is a bit higher. In that case, get another GFE and have your Agent give it to them so that they will match those costs and that rate, if it is lower. I have found that CTX Mortgage is usually a good rate.

Vicki
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-03-2009, 02:15 PM
 
373 posts, read 1,110,264 times
Reputation: 258
I just closed with CTX and their rates were the same as everyone else. By using them Vicki got us 6K off of closing (thanks again Vicki ). They were easy to work with and their rates were on par with everyone else. It is definitly worth using them if you are going to buy from Centex.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-03-2009, 05:02 PM
 
832 posts, read 2,445,847 times
Reputation: 532
Default Ouch!

Quote:
Originally Posted by hammester View Post
I just closed with CTX and their rates were the same as everyone else. By using them Vicki got us 6K off of closing (thanks again Vicki ). They were easy to work with and their rates were on par with everyone else. It is definitly worth using them if you are going to buy from Centex.
Wow! Here I am thinking that closing cost would not cost more than $4K and there you are telling me that you got $6K off .. ouch! Another question that I would like to ask is, do they package and sell their mortgages much like the banks do? Inquiry minds would like to know
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-03-2009, 05:09 PM
 
Location: Raleigh, NC
12,451 posts, read 30,237,370 times
Reputation: 9377
Remember that origination fee can be the largest part of your closing costs.

If your orig. fee is 1% of the amt. you are borrowing and you are borrowing $200,000, that is $2,000.

Plus your escrow accounts.

You should get a good faith estimate from them so you'll have ALL the fees.

Yes, they do sell their mortgages.

Vicki
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-03-2009, 08:11 PM
 
Location: Raleigh, NC
452 posts, read 970,247 times
Reputation: 407
I agree that CTX (now part of Pulte with the merger that just occured) is an excellent lender. I just closed on my second loan with them and this go around they covered ALL closing costs after rolling in all of my incentives (this was a spec home so the money they would have given me towards upgrades went towards buying down the price and all closing costs) + they were offering a rate close to .75% lower then the "normal" lenders I had gotten GFEs from with no out of pocket points up front. All in all I would highly recommend them.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-04-2009, 07:58 AM
 
373 posts, read 1,110,264 times
Reputation: 258
Quote:
Originally Posted by Jamerican View Post
Wow! Here I am thinking that closing cost would not cost more than $4K and there you are telling me that you got $6K off .. ouch! Another question that I would like to ask is, do they package and sell their mortgages much like the banks do? Inquiry minds would like to know
Yes they do sell off their loans. Ours got sold in about a month after we closed.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-04-2009, 03:10 PM
 
Location: Durham, NC
1,094 posts, read 2,320,684 times
Reputation: 691
I just closed on a home with Centex and was able to get no origination fees and almost all of my closing costs covered (my portion was less than $700). They were on par with other companies, but it also depended on what the other companies required. For instance, Wells Fargo quoted a rate that as .125% lower than Centex, but you had to pay 1% origination fee, buy points and open a bank account with them with a deposit equal to your monthly mortgage amount. So do your homework and make sure you understand what that lower rate will really cost you.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Raleigh, Durham, Chapel Hill, Cary
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top