Wednesday May 2, 2018
These lenders “get it”. You’re buying a home that isn’t built yet. That scenario presents different factors to a lender than when you purchase a resale home. A builder’s preferred lender has experience in the construction process. They understand what’s involved in every step. You won’t pay the price of a learning curve for a mortgage professional who is only experienced in conventional mortgages of existing homes.
You’ll close on time. The path to closing on a new construction home takes a slightly different route in terms of documents required. A builder’s preferred lender know the steps to take and has the experience to know how the builder works, including when to check in online on the project’s status—to order the appraisals in a timely manner, pick up on details, and fund the home loan on schedule. This mortgage lender is truly part of your home building team!
You might be rewarded with incentives. Often, a preferred lender can offer incentives, like free upgrades and closing costs, that other mortgage companies can’t provide. These rewards reflect the strength of the relationship between the builder and the mortgage company, a level of trust that the critical step of financing will be handled expertly.
The lender is readily available to you. When a preferred lender accepts this role, they understand that it comes with responsibility. The builder wants all homebuyers to be treated fairly, respectfully, and responsively. If you have a question on a weekend or weeknight—after the bank has closed—these mortgage pros will take your call and get the answers you need.
Your home will be fairly appraised. If you’ve ever tried to buy a home that—surprisingly—didn’t appraise for the purchase price, you know the value of a fair appraisal. Preferred lenders have developed relationships with lenders who consistently demonstrate the knowledge and experience to present an honest appraisal of a property.
When you’re ready to buy your new home in the Dallas-Fort Worth area from Riverside Homebuilders, we offer you the option of working with one of our preferred lenders. Talk to any of them about your situation and needs, and then determine if it’s a good fit for you. If you have any questions, please feel free to contact us.
Tags: Riverside Homebuilders, Dallas Fort Worth, home builder, preferred lender, financing a new construction home, mortgage companies, home loan, incentives, free upgrades, closing costs