Why should I use the preferred lender when buying a newly constructed home?
Often times the builder or seller will offer incentives for using their preferred lender in exchange for the assurance that the mortgage process will be completed in a professional and reliable manner.
These incentives can be both monetary and non-monetary. Monetary incentives can include a credit towards closing costs, a credit for free upgrades, an interest rate buy-down, or a combination of these items.
The non-monetary benefits of using a preferred lender can be equally as valuable. The non-monetary benefits of working with the preferred lender include expert advice that can only come from experience, seamless communication between parties during the transaction, and full disclosure of all upfront settlement fees/ charges.
Posted: October 27th, 2008 under New Construction.
Tags: builder, incentives, monetary incentives, non-monetary incentives, preferred lender, using preferred lender