Is A Builder’s Preferred Lender The Best Choice?

By
Real Estate Agent with Steinberg Realty Group 9079562

Is A Builder’s Preferred Lender The Best Choice?

 

This video gives you some ways to frame that question.

It’s more efficient and less paperwork for home builders to have financing on new-home sales handled by a single lender. So builders, particularly on larger projects, frequently make arrangements with a “preferred lender.” That lender can be fully informed about their building project which may help them handle your mortgage application more quickly.

As with any large transaction, you should compare options for your financial situation to make the decision about what’s best for you. Be aware of market conditions and compare the preferred lender’s offer to others; in other words, you still need to shop.

Compare terms carefully, and get clarification in writing about what aspects of a builder’s offer apply to which lenders. If you have concerns or feel pressured toward one lender ask for written confirmation that no parties are receiving monetary benefits from any other parties which is illegal under RESPA laws.

It’s natural to want to close quickly but make sure you get the best terms for your long-term investment in a home.

To find out more information about buying or selling a home or to search homes for sale visit www.steinbergrealtygroup.com

 

Posted by


 

Laurie Steinberg(R)

508 922 2340

Lsteinberg@kw.com

www.steinbergrealtygroup.com

 

 

Laurie Steinberg is a top sales agent at Keller Williams Realty based out of Easton Massachusetts.  

Laurie has become known for her “Out Of The Box Marketing” style and approach that helps her sellers get their homes sold fast and for the most amount of money, while also helping her buyers with top of the market negotiating skills and being able to get her buyers available listing as soon as possible making sure her buyers don't lose their dream home.

 

Laurie Steinberg has over 15 years experience in Residential Real Estate Sales. Servicing Plymouth, Bristol & Norfolk Counties and specializing in the Bridgewater's, Middleboro, and Raynham Towns. Laurie holds her Accredited Buyer Representative Designations, Certified Distressed Property Designation, and has mastered Internet Marketing. Laurie also has been known for having one of the best Marketing and Selling Plans in the area. Laurie stays up to date with current technology and is always taking new courses/ classes to learn more about the local area markets and how to be the best Realtor(R). Laurie is committed to giving exceptional, professional and friendly service combined with great customer service that will build a relationship that will last a lifetime. Laurie’s goal is to meet and exceed all her clients expectations. in the Bridgewater's, Middleboro, and Raynham Towns.

 

Laurie is a mother of 2 girls and was born and raised in Bridgewater Ma, Laurie raised her children in Middleboro where they lived for 15 years and now reside back in Bridgewater, living in these areas has giving Laurie the knowledge she needs to help all her clients needs.For a custom market evaluation Click here

For an isntant market estiate Click here

To search all homes for sale Click here

 

 

Comments (2)

John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Always an interesting topic, Laurie.  I've seen some relationships between builders & lenders that are less than great for consumers.  Often, a builders lender will offer rates/terms that aren't competitive with other options out there (sometimes though, people accept granite counters in return for a higher rate, sadly).  Builders should NOT be able to financially incentivize a buyer to use their lender, but they do it all the time.

Feb 18, 2015 06:10 AM
Michael Dagner
Brokers Guild Classic - Denver, CO
Your Denver Homes Realty Expert

Hi Laurie, oftentimes the builders lender wouldn't be the best choice, if it weren't for the incentives tied to using them. 

Feb 18, 2015 12:04 PM

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