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Financing in Nashua : Real Estate Advice

  • All128
  • Local Info7
  • Home Buying51
  • Home Selling8
  • Market Conditions3

Activity 2
Sat Nov 20, 2010
Scott Godzyk answered:
i can refer you to a lender if you need assistance. please feel free to email me direct at

Citimortgage may not be any better than any other lender of the same size though, all large banks and mortgage companies have similar rates and closing costs. It is the service that differs and you should be concerned with.

please see my blog with advice and tips on obtaing a mortgage
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Sun Jun 13, 2010
David Belman answered:
Most lenders will only allow you to lock the rate for up to 45 to 60 days. You may be able to find a longer rate lock (60 to 120 days) but it will most likely be at a higher percentage rate or have points or fees. Some lenders also allow a float down option so if rates drop lower you can take advantage.

Ideally, now would be an excellent time to lock the rate because they are at historic 50 year lows. Rates are expected to go up in the near future. You might even want to explore closing earlier to take advantage of these fantastic interest rates. You will need a signed contract signed to lock your loan.

Also check with at least 3 lenders and find the one that you are most comfortable with and has the best program for you. Make sure you know whether they are going to portfolio the loan (keep it in house) or sell it on the secondary market. I also assume you are pre-approved so you know your spending limits prior to purchasing. Good luck on your purchase!
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