Closing the Deal: When Fast Action is Needed


It’s important to educate yourself and shop wisely when financing a home. Even a small difference in points, fees, payment type, or down payment requirements, can add up to thousands of dollars, affecting your monthly payment or ability to finance.

Some lenders have different names for their fees, and might even waive one fee while adding another. Meeting with a loan officer can help you compare your options and understand your choices to ensure you select the right mortgage for your needs.

When Timing is Everything

Rich and Karyn Carpinone found the perfect home for their family just outside the town of Montgomery in Orange County. The Carpinones were buying their home with the help of a United States Department of Agriculture (USDA) loan, which helps families purchase homes in rural areas. Surprisingly, much of the Hudson Valley is designated by USDA as a rural area.

Everything was moving along smoothly with the sale & financing when they hit a bump in the road. During the loan review process, the Carpinones were alerted to a specific government guideline that it appeared their new house might not meet. This meant the loan would not be approved and Rich and Karyn would be starting their home search all over. HVFCU’s Mortgage Loan Officer, Michael Delgado took charge of the situation to make sure that didn’t happen. He suggested the family bring in a surveyor to verify that the house met the guideline in question. The surveyor’s report concluded that the property did in fact meet the required standards. The loan was submitted to USDA and approved! Rich and Karyn were thrilled, as was their Realtor. Thanks to Michael’s quick thinking and willingness to go the extra mile for a member, the Carpinones were soon in their new home with their daughter Lily.

Share Your Story

Do you have a story to share about how HVFCU helped you buy your home? If so, send us a note at [email protected]. We’d love to hear from you.

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